City of Scottsdale Highlights Companies Breaking New Ground on the Scottsdale Cure Corridor

City of Scottsdale  Nov. 14, 2016

Often, the Scottsdale Cure Corridor has been referred to as a concentration of cutting-edge bio-life science industries; however, the Cure Corridor is more than a brand or a physical location. It’s a collaboration of like-minded companies and professionals working together to find cures for disease. It is because of this collaboration that 13 percent of all Phoenix metro area bio-life sciences employers call Scottsdale home.

 For a number of years, the Scottsdale Cure Corridor has been growing in notoriety as a destination for entrepreneurs, startups and international research professionals interested in growing their product lines and business operations in a community dedicated to fostering a spirit of collaboration and success amongst its businesses.

 This culture of entrepreneurship and innovation has been gaining momentum since its inception. Startups such as Neolight, founded by ASU graduates in 2014, recently designed and developed a phototherapy technology to help treat and eradicate jaundice in newborn infants. Currently it has raised $1.4 million in seed money and was featured in the 2015 Cure Corridor Event as a rapid-fire speaker. CEO Vivek Kopparthi said, “Scottsdale is a city that allows companies like ours to connect and grow our business with access to venture capital firms which are searching for opportunities outside of the Bay Area. Having located at SkySong, the ASU Scottsdale Innovation Center, we are close to large investment firms on the West Coast, which we meet with frequently, but aren’t suppressed by exorbitant overhead as a result of the high price of real estate like other startups and entrepreneurs in the Bay Area.”

 “Scottsdale’s healthcare and life science community is a vital economic sector and is a key driver for job growth in our community,” said Mayor W.J. “Jim” Lane. “More importantly, leading life science innovators call Scottsdale ‘home.’ This means that the people of our community have access to the best possible healthcare services, cutting-edge research, and other opportunities that will benefit the people of Scottsdale today and for generations to come.”

 Companies on Scottsdale’s Cure Corridor employ more than 20,000, with a direct economic output of $2.5 billion and indirect output of $3.5 billion annually. Anchored by companies such as TD2, HonorHealth Research Institute and Mayo Clinic, this medical corridor is one of the strongest employment centers in the state.

 Companies such as Goxtudio have also fueled innovation in wearable robotics, where solutions for paraplegics and cures for injuries which afflict athletes the world over are being discovered. Led by CEO Joseph Hitt, it has developed the first bionic running leg showcased on the DISCOVERY CHANNEL with a special forces amputee running at 8 mph four months after losing his limb. Regenerative kinetics propels a robotic tendon that stores and releases energy, significantly reducing the need for external energy and power delivered by an electric motor. This strategy may allow motor-free wearable sleeves or socks to propel walkers and runners, increasing performance, reducing fatigue and mitigating injury.

Recent breakthroughs in cancer treatment have shown promising results with first-in-human clinical trials at Scottsdale’s HonorHealth. Patients diagnosed with stage IV pancreatic cancer were involved in a clinical trial which was applauded by the medical community as the first clinical trial to show meaningful results in late stage treatment of this disease. After two years, patients are still cancer free as a result of this new treatment combining three different drugs.

 “Cancer treatment and clinical trials are really our forte,” said Dr. Mark Slater, vice president of Research at HonorHealth Research Institute. “We’ve become known nationally and internationally for Phase One, first-in-human studies for cancer and have accelerated the development of breakthrough cancer therapies with new drugs that have received Food and Drug Administration approval, with the very first patients in the world being treated in Scottsdale.”

 “Companies worldwide are finding that Scottsdale is the perfect location to start and expand their business. Scottsdale is working hand in hand with its Cure Corridor partners and business advocates like the Scottsdale Area Chamber of Commerce to grow this strong market cluster in our community,” said Economic Development Director Danielle Casey. “The City of Scottsdale will continue to foster a spirit of collaboration which draws on and demonstrates existing strengths to companies looking for a new home to choose Scottsdale.”

 On the Horizon

Scottsdale will be hosting the fourth annual Cure Corridor Event at the Scottsdale Resort at McCormick Ranch, Dec. 9 from 11:30 a.m. to 1:30 p.m. and will feature a significant lineup of Cure Corridor partners sharing highlights of the innovation they are leading along the Cure Corridor.

 Dr. Joon Yun, managing partner and president of Palo Alto Investors, LLC, a healthcare-focused investment management firm founded in 1989 with $1.8 billion in assets, will be serving as keynote speaker for the event. Dr. Joon will be speaking on the Future of Healthcare: The Real Evolution in Life Sciences, Aging & the Business of Healthcare is Ahead of Us.

Rapid-fire presentations will be given before Dr. Joon’s keynote speech by featured founders, CEOs and innovators across healthcare sectors, including:

Visit ChooseScottsdale.com/News to register for this year’s event.

 About the City of Scottsdale

Scottsdale is one of the state’s leading job centers, with a diverse economy built on medical research, high-tech innovation, tourism and corporate headquarters. Scottsdale is home to nearly 18,000 businesses supplying over 150,000 jobs. The high-tech innovation center SkySong, located just a few miles from Downtown, is designed to help companies grow through a unique partnership with nearby Arizona State University. The Scottsdale Cure Corridor is a partnership of premier health care providers and biomedical companies seeking to advance medicine and patient care through cutting-edge research. For more information, visit ChooseScottsdale.com.

 

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