March 03, 2015 6:24 PM ET

Company Overview of Austen BioInnovation Institute in Akron

Company Overview

Akron, OH 

United States

Founded in 2009

Key Executives for Austen BioInnovation Institute in Akron

Chief Executive Officer and President
Age: 70
Chief Operating Officer
Age: 64
Compensation as of Fiscal Year 2014.

Austen BioInnovation Institute in Akron Key Developments

ADB International Group, Inc. Announces Partnership with Austen Bioinnovation Institute in Akron to Bring E-QURE BST Wound Healing Device to U.S. Market

ADB International Group Inc. announced a partnership with Austen BioInnovation Institute in Akron for the purpose of bringing ADBI's E-QURE BST(TM), a bioelectrical signal therapy device (the E-QURE BST Device), to the U.S. market. The Institute, which has significant expertise in wound healing, clinical trial development and regulatory operations, will conduct a clinical trial that will include 70 patients in a double-arm, controlled, randomized, multi-center study to assess the safety and efficacy of the E-QURE BST Device in subjects with stage II & III Pressure and Venus Stasis ulcers, as an adjunct to the 'Standard of Care'. The company's E-QURE BST Device currently is marketed in Europe for similar indications. It aims to accelerate healing of hard-to-heal chronic wounds by delivering electrical stimulation to an injury site and thus effectively mimicking the electrical currents of chronic wounds in order to enhance the body's natural healing mechanisms. The company's management selected ABIA's Product Innovation and Commercialization Division to spearhead its pre-market clinical trial program, which is necessary to apply for regulatory approval from the FDA to distribute in the United States. ABIA will prepare on behalf of the company an investigative device exemption application to obtain FDA approval to conduct the clinical trials. The initial trial includes 70 patients in a double-arm, randomized, multi-center study to assess the safety and efficacy of E-QURE's BST Device of which data will be submitted to the U.S. Food and Drug Administration to obtain marketing clearance.

Lorain County Community College District and Austen BioInnovation Institute in Akron Join to Advance Medical Technologies

Lorain County Community College District and the Austen BioInnovation Institute in Akron (ABIA) are leveraging their complementary strengths to build a partnership to accelerate the commercialization of novel medical technologies that can advance economic growth, stimulate job creation, foster talent development, enrich patient care and improve community health in Northeast Ohio. Nationally, the Advanced Manufacturing Partnership (AMP), created as a collaborative led by National Institute of Standards and Technology (NIST), cited the "missing middle" as the gap between research and market, and as a primary barrier of moving new inventions to market and creating jobs.

St. Vincent, Austen BioInnovation Institute in Akron Announce Strategic Partnership to Develop New Products

The Austen BioInnovation Institute in Akron and St. Vincent Charity Medical Center announced a Strategic Innovation Partnership intended to create an innovation-oriented pathway for surgeons to explore and commercialize new ideas and solutions. Working closely with a select group of surgeons at the hospital, the ABIA partnership will provide St. Vincent with engineering and technology development resources necessary to develop medical devices and solutions that have clinical and commercial potential. The ABIA-St. Vincent partnership will focus initially on the area of orthopedics. To facilitate the first phase of this technology development initiative, ABIA's biomedical engineers will spend time on-site at St. Vincent in partnered-innovation sessions. The sessions involve working directly with surgeons in the operating room to identify unmet clinical needs and problems that might lead to products and solutions. The collaborative process then allows for ABIA to further the commercialization path through market and intellectual property analysis, regulatory strategy, engineering design, prototype development and testing of new advances.

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