Senator Kirk and Governor Romney Visit MATTER, Support Innovation in Healthcare

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CHICAGO, Oct. 19, 2016 – U.S. Senator Mark Kirk and former governor and presidential candidate Mitt Romney today toured healthcare technology incubator MATTER to discuss the future of healthcare with entrepreneurs and innovators.

Located in Chicago’s Merchandise Mart, MATTER is a community of healthcare startups and industry leaders working together to fuel innovation in health IT, medical devices, diagnostics, and biopharmaceuticals.

Senator Kirk and Governor Romney met with several of the entrepreneurs working at MATTER to develop innovative healthcare solutions, including the founders of SurvivorPlan, an integrated care planning, care coordination, and patient engagement platform; HabitNu, a diabetes prevention and management tool; 300 Medical, a technology company that improves how patients receive care; and Resonance Medical, a software company that aims to upgrade existing cochlear implant processors.

“It was a pleasure to be back at MATTER,” said Senator Kirk, who visited the incubator for the first time in August of 2015. “The technology, devices, and products being developed by the entrepreneurs at MATTER will improve patients’ lives and positively impact the region’s economy,” Kirk continued.

“Today I had the opportunity to tour MATTER with U.S. Senator Mark Kirk,” added Governor Romney. “I enjoyed hearing from entrepreneurs and innovators on the cutting edge of healthcare technology who are working together to improve the healthcare industry, create jobs, and bolster the local economy,” Romney said.

“MATTER is honored to host Senator Kirk and Governor Romney for a discussion about how technology innovation is improving healthcare and changing lives,” said Steven Collens, MATTER CEO.

About MATTER
MATTER is a community of entrepreneurs, innovators, and industry leaders working together to harness technology to improve health and healthcare. MATTER connects and promotes collaboration between entrepreneurs, scientists, physicians, investors, and industry partners in order to bring next-generation products and services to market that improve quality of care and save lives. For more information, visit www.matterchicago.com and follow @matterchicago.

Fresenius Kabi Joins Chicago Health Innovation Incubator MATTER as Newest Strategic Partner

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(LAKE ZURICH & CHICAGO) – October 11, 2016 – Fresenius Kabi has joined Chicago’s healthcare innovation incubator, MATTER, as a new strategic “gold” partner, both organizations announced today.

MATTER is a community of healthcare innovators based in Chicago.  Fresenius Kabi is a global healthcare company that specializes in medicines and technologies for infusion, transfusion and clinical nutrition.  The company is based in Germany with its U.S. headquarters in Lake Zurich, Illinois and advanced manufacturing, R&D and logistics operations throughout the Chicagoland area.

MATTER and Fresenius Kabi will work together to accelerate the development of technologies that improve health and patient care, with a focus on products used in the treatment of people with critical and chronic conditions, which is where Fresenius Kabi has special expertise.

In the U.S. Fresenius Kabi products include specialty and generic injectable medicines, infusion pumps, clinical nutrition products and transfusion and cell-processing technologies used to collect, store, process and transfuse blood, blood components and specific therapeutic cell types and lines.

“This partnership is about physical and digital innovation, which as we know is transforming patient care, making high-quality care more effective, more affordable and more in reach for more people worldwide,” said Dean Gregory, president, medical devices, Fresenius Kabi USA.  “We look forward to engaging with the MATTER community and collaborating with its innovators, entrepreneurs and other partners as a means to fulfill our purpose, which is to put lifesaving medicines and technologies in the hands of people who care for patients.”

Through MATTER, innovators from across the healthcare industry connect and collaborate to accelerate the development and growth of solutions that address industry challenges and improve care.

“Fresenius Kabi is a leader in healthcare with a focus on therapeutics and devices, and we are thrilled to welcome their innovators and experts into the MATTER community as we collaborate to improve care,” said Steven Collens, chief executive officer, MATTER.

About Fresenius Kabi

Fresenius Kabi (www.fresenius-kabi.us) is a global healthcare company that specializes in medicines and technologies for infusion, transfusion, and clinical nutrition. The company’s products and services are used to help care for critically and chronically ill patients. The company’s U.S. headquarters is in Lake Zurich, IL. The company’s global headquarters is in Bad Homburg, Germany. For more information about Fresenius Kabi worldwide, please visit www.fresenius-kabi.com.

About MATTER

MATTER is a community of entrepreneurs, innovators and industry leaders working together to harness technology to improve health and healthcare. MATTER connects and promotes collaboration between entrepreneurs, scientists, physicians, investors and industry partners in order to bring next-generation products and services to market that improve quality of care and save lives. For more information, visit www.matterchicago.com and follow @matterchicago.

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Fresenius Kabi Media Contact
Matt Kuhn
Fresenius Kabi
(847) 550-5751
matt.kuhn@fresenius-kabi.com

MATTER Media Contact
Melissa Lederer
MATTER
(312) 543-9537
melissa@matterchicago.com

MATTER Launches The OSF Simulation Stage in Partnership with OSF HealthCare

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New specialty environment at MATTER lets healthcare innovators develop ideas and test products in real-world clinical scenarios; first project will focus on hospital observation units

(CHICAGO, IL) – September 6, 2016 – MATTER, in partnership OSF HealthCare, today announced the launch of The OSF Simulation Stage at MATTER, a flexible simulation environment designed to allow early-stage healthcare technology innovators to test their products in real-world clinical environments and gain valuable feedback – knowledge they traditionally would not have the opportunity to receive until much later in the development process. The Stage, which is configurable to model a number of hospital clinical settings such as an ICU, cath lab, or procedure room, is outfitted with medical equipment from Hill-Rom and electronic health record software from Allscripts.

The OSF Simulation Stage’s first configuration will model a hospital observation room and will be the focal point of a six-month-long challenge sponsored by Hill-Rom to develop technologies to improve the efficiency, quality, and financial stability of hospital observation units. The challenge is an opportunity for innovators to develop solutions to a timely problem and gain feedback from clinicians on the front lines of delivering care. Applications from teams interested in participating must be submitted by October 15. The winning team will be presented with a cash prize. For more information, visit http://matterchicago.com/about/thestage/

“Simulation provides an invaluable opportunity for testing, training, and iteration in a safe and controlled environment,” said Dr. John Vozenilek, vice president and chief medical officer for Jump Trading Simulation & Education Center, a partnership between OSF HealthCare and University of Illinois College of Medicine at Peoria. “The friction involved in bringing new healthcare technologies to market is immense, and it’s often doubly hard for early-stage innovators to navigate the healthcare system to secure crucial pilots and gain direct feedback. The OSF Simulation Stage at MATTER eliminates this friction by accelerating the testing process and paving the way for outside evaluation to shape new ideas and iterative decisions that might otherwise not be uncovered until much later in the process – or missed entirely. We’re thrilled to partner with MATTER on this endeavor.”

“Since MATTER opened last year, we have heard from startups and innovators that they want greater access to clinical environments in which to develop ideas and test prototypes,” said MATTER CEO Steven Collens. “The OSF Simulation Stage gives them this environment and is designed to be highly flexible and adaptable to a variety of situational challenges.”

The OSF Simulation Stage is the second specialty environment that MATTER has designed to facilitate connection and collaboration between entrepreneurs and clinicians to advance healthcare. Previously, MATTER introduced the AMA Interaction Studio, in partnership with the American Medical Association, that provides an interactive environment for entrepreneurs and physicians to engage one another early on in the development of new solutions.

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Media Contacts:
Melissa Lederer
MATTER
(312) 543-9537
melissa@matterchicago.com

Denise Molina-Weiger
OSF Innovation
(309) 308-9547
denise.molina-weiger@osfhealthcare.org

About OSF HealthCare
Headquartered in Peoria, OSF HealthCare is owned and operated by The Sisters of the Third Order of St. Francis, and consists of more than 18,000 employees in 115 locations, including 11 hospitals throughout Illinois and Michigan. Its physician network employs more than 1,000 primary care, specialist physicians, and advanced practice providers. More at www.osfhealthcare.org.

About Jump Trading Simulation & Education Center
Jump Trading Simulation & Education Center (Jump) is an incubator where collaboration and innovation lead the transformation of healthcare worldwide. Jump programs and objectives are key to improving the safety, effectiveness, and efficiency of care for community members across the region.
A collaboration between OSF HealthCare and University of Illinois College of Medicine at Peoria (UICOMP), Jump advances the missions of both organizations.

About MATTER
MATTER is a community of entrepreneurs, innovators and industry leaders working together to harness technology to improve health and healthcare. More than 130 healthcare technology startups operate at MATTER, and the company partners with 10 hospitals and health systems, four universities and more than 40 industry-leading companies. By equipping, empowering and emboldening healthcare innovators, MATTER accelerates the development of technologies that solve the right healthcare problems in the right ways. For more information, visit www.matterchicago.com and follow @matterchicago.

Tales from the Trenches: Norbert Riedel and Joe Moskal

Posted April 14 by Devon Leichtman

Last month, MATTER’s Tales from the Trenches series welcomed Norbert Riedel and Joe Moskal, the leaders of Evanston-based Naurex, which was recently acquired by global healthcare giant Allergan for $560 million. ContextMedia CEO Rishi Shah interviewed the pair about their successful (if oddly coupled) partnership. Watch the full video of the event or read our recap below.

In 1983, Joe Moskal, a neuroscience PhD, built a nonprofit research institute dedicated to studying depression and other conditions of the central nervous system. At the time, in many circles, depression wasn’t accepted as a true medical condition, so Moskal had to fight against the stigma and the largely-held belief that his work wasn’t valid.

Moskal founded The Falk Center for Molecular Therapeutics at Northwestern University where he developed drugs to treat conditions related to the central nervous system including depression, surviving on grant funding while maintaining close ties with the private sector. While running the Falk Center, he met Norbert Riedel.

Riedel was Baxter’s chief scientific officer and head of Baxter Ventures where he scouted academic labs for potentially disruptive technologies to fund. After funding a few of Moskal’s proposals in the mid-2000s, Baxter Ventures led Naurex’s Series-B funding round in 2012, and Riedel joined Naurex’s board. In 2013, Riedel stepped down as Baxter’s chief scientific officer and became Naurex’s CEO the following year.

Dtt2uring the conversation, Riedel shared his view that Baxter could never be as innovative or entrepreneurial as he wanted it to be without working closely with universities. Moskal chalks up his commercial success to his research’s independence from Northwestern – something he was only able to maintain with funding from Baxter. Had he only focused on developing peer-reviewed research and obtaining government grants, he would not have been able to shape his research into commercially viable drugs affecting the CNS.

Together, Riedel and Moskal were able to develop treatments for conditions affecting the central nervous system. One such medicine is rapastinel, an adjunctive therapy for treatment-resistant depression. Their clinical trials showed efficacy a mere two hours after a single dose was administered to a patient, with relief lasting up to a week. The relief was twice as robust after one dose than after four weeks of treatment with selective serotonin reuptake inhibitors, or SSRIs, the most widely-prescribed treatment for depression in the US. Not only that, but rapastinel didn’t have a single serious side effect after a large number of clinical trials. The FDA granted the drug Fast Track designation in 2014 and Breakthrough Therapy designation in 2016.

Allergan acquired the Naurex name and the company’s lead compounds for depression, but the entire Naurex team reconstituted under a new company name, Aptinyx, and are currently working on using the same platform to develop breakthrough therapies for neuropathic pain.

In giving advice for building a biopharmaceutical business from the ground up, Riedel and especially Moskal stressed the incremental nature of entrepreneurship. They raised numerous rounds of funding over many years before developing the company to a point where it was an attractive acquisition target. He emphasized “taking small swings,” claiming that “the name of the game is to stay in the game.”

The pair shared words of wisdom about the importance of failure: the sooner entrepreneurs fail, the sooner they stop working on bad ideas. Building a network was crucial to Moskal, who mentioned mentors and colleagues who provided invaluable feedback throughout his career. With regards to the healthcare industry, both hammered home the importance of staying focused on the patient. If you have a unique, differentiated product that eases real patient pain, the money will follow. Just ask Joe Moskal.

Over 40 Ventures from 10 Midwest Universities to Participate in MATTER’s Second Annual Midwest University Healthtech Showcase

CHICAGOApril 8, 2016 – MATTER, the healthcare community hub and entrepreneurial incubator, announced today that the second annual Midwest University HealthTech Showcase will take place on Monday, April 11, 2016. The showcase will bring together early stage healthcare innovators from 10 midwestern universities to present their technologies to hundreds of healthcare investors and industry leaders at MATTER. The Midwest University Showcase is the kick-off event to the two-day MedCity INVEST Conference on April 12-13 that attracts both regional and national venture capitalists and angel investors.

“We’re looking forward to welcoming some of the brightest healthcare innovators from across the Midwest,” said Steven Collens, MATTER CEO. “Investors and industry leaders will see promising new technologies that represent real business opportunities and that will have a huge impact on health and healthcare.”

The event will showcase over 40 biopharmaceutical, medical device, and health IT innovations that are available for licensing or in the commercialization process. Participating technologies include BOLD Diagnostics, which developed a device to remotely capture blood pressure in patients with hypertension; NovaScan that commercializes a low-cost instantaneous cancer detection system; and Output Medical that automates urine output measurements to improve acute kidney injury diagnosis.

“We are extremely excited about attending the Midwest University Showcase because we see this as an ideal opportunity to validate our venture, and build the necessary connections to generate traction and move the company forward,” said Output Medical founder Dr. Jay Joshi.

Participating universities include Indiana, Illinois, Northwestern, Ohio State, Notre Dame, University of Chicago, University of Kansas, Medical College of Wisconsin, Rush University, and the Wisconsin Alumni Research Foundation. BioSTL will also participate. Several MATTER member companies, whose technologies were initiated out of participating universities, will be involved in the program.

In addition, MATTER will bring together healthcare technology investors from across the country, as well as industry professionals responsible for in-licensing and investment opportunities from companies such as Horizon Pharma, Abbott, AbbVie, Astellas, Baxalta, and Takeda.

“It’s always compelling to learn about new technologies that are being developed right in our backyard that we don’t have visibility into through our traditional channels,” said Nancy Sullivan, CEO of IllinoisVENTURES. “MATTER’s ability to convene this many healthcare innovators, industry insiders, and investors makes for a stimulating evening of discovery, networking, and opportunity,” Sullivan added.

The Midwest University Showcase is a private, invite-only event underwritten by Horizon Pharma. To see the full list of participating technologies, visit http://matterchicago.com/programs/midwest-university-healthtech-showcase/

About MATTER

MATTER is a community of entrepreneurs, innovators and industry leaders working together to harness technology to improve health and healthcare. MATTER connects and promotes collaboration between entrepreneurs, scientists, physicians, investors and industry partners in order to bring next-generation products and services to market that improve quality of care and save lives. For more information, visit www.matterchicago.com and follow @matterchicago.

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MATTER’s Anniversary: CEO Steven Collens Looks Back on Year One

One year ago, together with Senator Dick Durbin, Governor Bruce Rauner, and Mayor Rahm Emanuel, we opened MATTER with the ambitious goal of developing a better model for healthcare technology innovation.

MATTER Grand Opening Ribbon-Cutting
Ribbon-cutting at the MATTER Grand Opening

There has never been a more dynamic time for healthcare innovation – and we built MATTER to accelerate the development of new technologies that will improve health and healthcare.

We launched with 56 startup companies who took a risk on us. They moved in on day one, hoping we would deliver what we promised: a community, resources, and programs that would help them accelerate the development of their businesses. Today we have 117 startups at MATTER, developing breakthrough health IT, medical device, diagnostics, and biopharma technologies.

We launched with 11 founding partners who made that grand opening possible. Thanks again to AbbVie, Allscripts, the American Medical Association, Astellas, EY, Healthios, Horizon Pharma, JPMorgan Chase, Marathon Pharmaceuticals, OSF HealthCare, and Takeda – each of whom took a risk and invested in us before we had anything to offer other than a plan. Today we have 70 industry-leading partners who make our mission possible and come together every day at MATTER to accelerate innovation.

MATTER InsideOut Program
Representatives from our industry-leading partners and our members work side-by-side at our Inside/Out program

We started with a thesis: that the best way to develop healthcare technologies is to bring established companies and health systems together with entrepreneurs to develop new products together. As we’ve gained experience working with our members and partners, we have focused our efforts on doing three things for healthcare innovators, from solo entrepreneurs to Fortune 500 company executives: equipping them with tools and knowledge to better build their technologies; empowering them with an extensive network of corporate and hospital executives, researchers, physicians, investors, and entrepreneurs; and emboldening them with a community that helps inspire them to greater heights.

In our first year as we built out our programs, we facilitated 1,411 mentorship meetings, hosted 335 events, welcomed more than 25,000 visitors, and consumed many hundreds of gallons of coffee. We built bridges between startups and established institutions that have accelerated the development of new technologies ranging from a new operating system for medical devices, to algorithms that predict when people will have heart attacks days before they exhibit visible symptoms.

At the 2015 Midwest University Health Tech Showcase, we brought 100 investors to look at 50 technologies from 10 universities across the country – and we will host the 2016 event in just a few weeks.

Rishi Shah of ContextMedia interviewing former Allscripts CEO Glen Tullman during our Tales from the Trenches series.
Rishi Shah of ContextMedia interviewing former Allscripts CEO Glen Tullman during our Tales from the Trenches series

Together with ContextMedia and Pritzker Group Venture Capital, we brought successful healthcare entrepreneurs to MATTER to tell their stories in our Tales from the Trenches series. With NorthShore University HealthSystem, we brought leading clinicians and researchers to discuss the latest developments in medical science. And with the American Medical Association, we opened the AMA Interaction Studio, which brings the physician office into MATTER and allows doctors to collaborate with entrepreneurs in a real-world setting.

Last month, we acquired Chicago Innovation Mentors (CIM), a 5-year-old, team-based mentoring program that accelerates the development of complex technologies emerging from some of the best research labs in the country.

We had an amazing first year – but we’re really just getting started. Our focus as we round the corner into year two is on enhancing our startup incubation model, expanding the value we create for our partners, and broadening our network across the country.

Industry executives collaborating at Living Lab

To do that, we are continuing to develop new initiatives that create value for our community. We launched our Inside/Out program in December with a curated, 50-person event that was facilitated by IDEO and focused on improving diabetes management. We launched the Living Lab fellowship in January – which bring groups of industry executives to MATTER for 3 months to collaborate on the development of new business models that address industry-wide issues such as adherence. And we formalized our Financing Clinic, which brings investors from across the country to MATTER to meet with member companies. Each week we welcome new startup members, new industry partners, and new health systems to MATTER to work with our community to build the best solutions to the most vexing challenges.

We are grateful to those who believed in us as we opened our doors and built our initial operations, and we couldn’t be more enthusiastic about working with all our members and partners to accelerate the development of technologies that will improve live and lives.

MATTER to collaborate with Abbott to bolster healthcare innovation

 Sam Dewey, Built In ChicagoJan 28th, 2016
This week, Merchandise Mart-based Matter, unveiled a collaboration with global healthcare company Abbott to spur innovation in healthcare. Together, the companies will work to fuel the development of tech that improves from health and healthcare. Abbott is one of MATTER’s eight platinum-level partners from various corners of the healthcare industry.

Abbott signs on to support Matter

By John Pletz, Crain’s Chicago Business

 

Abbott, one of Chicago’s biggest healthcare companies, has signed on as a top-level partner of Matter, the health-technology incubator at the Merchandise Mart.

Abbott is a platinum-level sponsor, alongside seven other healthcare heavyweights, such as AbbVie, Astellas, Blue Cross & Blue Shield of Illinois, Takeda and others.

“It’s one of the biggest healthcare brand names in Chicago,” says Matter CEO Steven Collens. “We’re thrilled to welcome them.”

Abbott was in the process of splitting into two companies as Matter was being formed. Baxter, which also underwent a breakup, has yet to sign on.

Matter, which launched a year ago, is home to 115 startups and counts about 50 industry partners.

Abbott will serve on Matter’s advisory board, which helps provide guidance on programming to help spur innovation. Companies collaborate with Matter startups, helping them sharpen their business plans and figure out how to land big customers while getting a close-up look for themselves at new technologies and disruptive ideas.

 See the full story at Modern Healthcare.

Healthcare Technology Incubator MATTER and Global Leader Abbott to Support Healthcare Innovation

CHICAGO – January 26, 2016 – MATTER, the healthcare technology incubator, today announced a collaboration with Abbott, the global healthcare company, to support healthcare innovation. The two companies will work together to accelerate the development of new technologies that improve health and healthcare. Abbott joins as one of eight platinum-level partners from across the healthcare industry.

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Abbott will work with MATTER to identify and potentially commercialize promising new technologies and innovations. In addition, Abbott’s participation in MATTER’s mentoring programs, curriculum, salons and other initiatives will help support the growth of MATTER’s 115 startup companies.

“At Abbott, we are on a mission to help people live their best lives, and innovation is at the center of everything we do,” said John Capek, executive vice president, Ventures, Abbott. “We look forward to collaborating with entrepreneurs and other industry leaders at MATTER to identify and support the growth of next-generation technologies that help people live better, more fulfilling lives.”

Through MATTER, industry executives and entrepreneurs connect and collaborate to accelerate the development and growth of new products and services that can revolutionize health and healthcare. MATTER’s strategic partnerships, such as the one with Abbott, enable established companies and startup entrepreneurs to work together, helping to develop solutions to the most meaningful healthcare problems in the right ways, at the right times.

“Abbott is one of the world’s most important healthcare companies, and we’re thrilled to welcome them to the MATTER community of entrepreneurs and innovators working together to improve health and healthcare,” said Steven Collens, chief executive officer, MATTER.

About MATTER

MATTER is a community of entrepreneurs, innovators and industry leaders working together to harness technology to improve health and healthcare. MATTER connects and promotes collaboration between entrepreneurs, scientists, physicians, investors and industry partners in order to bring next-generation products and services to market that improve quality of care and save lives. For more information, visit www.matterchicago.com and follow @matterchicago.

 

Abbott signs on to support MATTER

John Pletz, Crain’s Chicago Business, January 26, 2016

Abbott, one of Chicago’s biggest health care companies, signed on as a top-level partner of Matter, a health-technology incubator at the Merchandise Mart.

Abbott is a platinum-level sponsor, alongside seven other health care heavyweights, such as AbbVie, Astellas, Blue Cross & Blue Shield of Illinois, Takeda Pharmaceuticals and others.

“It’s one of the biggest health care brand names in Chicago,” Matter CEO Steven Collens says. “We’re thrilled to welcome them.”

Abbott was in the process of splitting into two companies as Matter was being formed. Baxter, which also underwent a breakup, has yet to sign on. Matter, which launched a year ago, is home to 115 startups and counts about 50 industry partners.

Abbott will serve on Matter’s advisory board, which helps provide guidance on programming to spur innovation. Companies collaborate with Matter startups, helping them sharpen their business plans and figure out how to land big customers while getting a close-up look for themselves at new technologies and disruptive ideas.