* M E D I A A D V I S O R Y *
UMass Lowell’s Massachusetts Medical Device Development Center Gets Boost
Wednesday, Feb. 13, 2008
WHAT: State Sen. Steven Panagiotakos will bring Gov. Deval Patrick to UMass Lowell for a significant announcement to support the Massachusetts Medical Device Development Center. Also known as M2D2, the center is a partnership between UMass Lowell and UMass Worcester, and works with companies around the state to move innovative new medical devices from concept to market.
UMass Lowell is establishing an on-campus innovation center that will house this key life sciences initiative. M2D2 focuses on a sector of the industry that can produce economic growth and jobs quickly and already has a track record of success on return on investment. With its client companies, M2D2 has leveraged a nearly 10 to 1 return on the initial investment of $150,000 by the John Adams Innovation Institute, which recently invested another $500,000 to help the center work with a dozen more businesses across Massachusetts.
Through M2D2, plastics engineering and medical experts, working with a steering committee of industry veterans and venture capital managers, guide companies through the pipeline from idea to production. M2D2 is co-directed by UML’s Stephen McCarthy, a Ph.D. and professor of plastics engineering who holds nine patents and is the founder of the nanotechnology-based company Encapsion, and Dr. Sheila Noone, UMass Worcester’s director of clinical research.
UMass President Jack Wilson and UMass Lowell Chancellor Marty Meehan are also scheduled to take part in the event, as well Thomas Sommer, president of MassMEDIC. Gov. Patrick will hold a question-and-answer session at the event.
WHERE: Wannalancit Conference Center, 600 Suffolk St., Lowell. Conveniently located parking is available.
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