SOURCE: North Shore Long Island Jewish Health System

North Shore Long Island Jewish Health System

December 18, 2015 09:28 ET

International Alliance to Develop Medical Device and Diagnostic Solutions Focused on Asian and Global Needs

NEW YORK, NY--(Marketwired - December 18, 2015) - Singapore's Diagnostics Development (DxD) Hub has formed an international alliance with an American research institute and an Irish healthcare technology innovations firm to target the development of medical device and diagnostic technologies that will initially target surgical procedures, intraoperative diagnostics and diabetic management.

The new strategic alliance, created as part of a newly signed memorandum of understanding, involves The Feinstein Institute for Medical Research, the research arm of the North Shore-LIJ Health System in New York; i360medical Ltd (i360), a healthcare solutions and medical device innovation company in Ireland; and the DxD Hub, a national initiative led by Singapore's Agency for Science, Technology and Research (A*STAR).

Under this agreement, the parties will jointly identify and evaluate pipeline projects, with the goal of developing selected projects with high potential for clinical and commercialization impact. The alliance gives the Feinstein Institute access to the DxD Hub's Asian clinical network and i360's European clinical network. The DxD Hub and i360 will also gain access to the Feinstein Institute and North Shore-LIJ's clinical network of key opinion leaders, to benefit from their clinical input and evaluation of joint initiatives.

The Feinstein Institute comprises 1,500 clinicians, scientists and staff who work in laboratories and clinical research programs throughout the North Shore-LIJ Health System. Annually, more than 15,000 patients and volunteers participate in more than 2,000 clinical research studies and trials. The institute's key research areas include autoimmune diseases, Alzheimer's disease, Parkinson's disease, and bioelectronic medicine. The DxD Hub and i360 will leverage this alliance to conduct clinical studies and product roll-out in the Feinstein Institute's clinical labs, thereby gaining market access to the United States.

The collaboration will also enable the DxD Hub and i360 to serve as gateways to Singapore and the rest of Asia, as well as the European Union markets respectively. The synergistic relationship among the three parties is expected to accelerate productization and commercialization of medical diagnostic technologies in Singapore to address Asian and global needs.

Dr. Sidney Yee, CEO of the DxD Hub, said, "As the aging population continues to grow, and with the rise of chronic diseases, medical diagnostics becomes increasingly critical within healthcare for early detection, prevention and treatment of diseases. The DxD Hub's collaboration with the Feinstein Institute and i360 will catalyze the development of leading edge medical technologies and devices, and bring them quickly to global markets. This enables A*STAR to achieve value creation, value delivery and value capture from our R&D."

Mr. Kirk Manogue, Vice President of the technology transfer arm for the Feinstein Institute, said, "I am delighted that the DxD Hub, i360medical and the Feinstein Institute have concluded this agreement to collaborate in identifying, developing and advancing the adoption of new medical technologies that improve healthcare and patient outcomes around the world."

i360medical Founder and CEO Derek Young said, "This is an important partnership because it not only provides for collaborative research and development of new solutions for unmet clinical needs, but it also offers significant reach to bring affordable solutions to patients worldwide -- most particularly in the US, Asian and EU markets. Collectively, our organizations and respective scientific and clinical thought leaders will look to combine expertise and produce new and enduring surgical and diagnostic technologies. It's exciting to join forces to identify and develop a global lifecycle plan for breakthrough technologies in the healthcare of tomorrow."

About the Diagnostics Development (DxD) Hub
The Diagnostics Development (DxD) Hub is a national initiative in Singapore, led by the Agency for Science, Technology and Research (A*STAR). The DxD Hub aims to accelerate the transformation of innovations into clinically validated diagnostic devices that are ready for market adoption. Through impactful products, empowering local enterprises and anchoring global companies in Singapore, the DxD Hub contributes to the development of an effective diagnostic devices ecosystem in Singapore. 

About i360medical
i360medical Ltd. is an Ireland headquartered health technology innovation company with offices in New York USA that drives collaboration across clinicians, multinational companies, emerging businesses, and universities. With an experienced international team and Board who share a strong design, development, intellectual property, market, and commercialization focus, i360medical is a dynamic conduit for new concept ideas and verified unmet surgical and clinical needs. The company has established itself as a preferred 'one stop' supplier of outsourced Ideation and R&D for a number of global and national healthcare systems and medical technology companies. Clients engage with i360medical because of our practical experience, our independence, our access to the European and emerging markets through our exceptional international clinical and commercial network and our ability to accelerate healthcare technology commercialization.

About The Feinstein Institute for Medical Research
Headquartered in Manhasset, NY, The Feinstein Institute for Medical Research is home to international scientific leaders in many areas including cancer, Parkinson's disease, Alzheimer's disease, psychiatric disorders, rheumatoid arthritis, lupus, sepsis, human genetics, medicinal chemistry, and bioelectronic medicine. The Feinstein Institute, part of the North Shore-LIJ Health System, ranks in the top 6th percentile of all National Institutes of Health grants awarded to research centers. For more information, visit www.FeinsteinInstitute.org.

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Contact Information

  • For media queries and clarifications, please contact:

    For A*STAR
    Lynn Hong
    Senior Officer, Corporate Communications
    Agency for Science, Technology and Research (A*STAR)
    Singapore
    Tel: +65 6419 6597
    Email: hongxl@scei.a-star.edu.sg

    For Feinstein Institute for Medical Research
    Emily Ng
    Research Communications Manager
    The Feinstein Institute for Medical Research
    North Shore-LIJ Health System
    350 Community Drive, Manhasset, NY 11030, USA
    Tel: +1 516 562 2670
    Email: Eng3@NSHS.edu

    For i360medical
    Derek Young
    Founder & CEO
    i360medical
    12 Merrion Square, Dublin 2, Ireland
    350 Community Drive, Manhasset, NY 11030, USA
    Tel: + 353 (0) 1 631 6029 IRL
    Tel: +1 516 562 0411 US
    Tel: +353 (0) 86 8281515 IRL
    Email: derekyoung@i360medical.com
    Web: www.i360medical.com