Fogarty Institute Receives Grant from Edwards Lifesciences Foundation for Medical Technology Innovation and Education Programs
- Foundation supports medical technology incubator for ninth year, providing nearly half a million dollars towards creating the next generation of life sciences companies -
MOUNTAIN VIEW, Calif., January 27, 2016 — The Fogarty Institute for Innovation, a nonprofit that provides intellectual, physical and financial resources to medtech startups, today announced it received a grant from Edwards Lifesciences Foundation. The grant will fund its medical technology innovation and Lefteroff Internship programs that support individuals, programs and early-stage ideas designed to create the next generation of life sciences companies. Edwards Lifesciences is the global leader in patient-focused medical innovations for structural heart disease and critical care monitoring.
Edwards Foundation has been supporting the Fogarty Institute since its inception in 2007, investing a total of nearly half a million dollars in its programs to host, mentor and groom future medical innovators. Edwards has been the manufacturer of the Fogarty family of vascular products, which were innovated with Dr. Thomas Fogarty, the founder of the Fogarty Institute. These products are used in more than 300,000 procedures worldwide per year and are estimated to have saved the lives and limbs of 20 million patients.
"We are grateful to Edwards Lifesciences Foundation for their continued support and for sharing our passion to improve patient care," said Ann Fyfe, President and CEO of the Fogarty Institute. "Their funds will help our medical startups continue to develop their innovative technologies, projected to improve and/or save the lives of nearly 10 million people worldwide. They will also help us expand our thriving internship program, which provides invaluable real world, on-the-job experience for young people who are just starting to explore the world of cardiac surgery and medical technology."
"We are excited to partner with the Fogarty Institute to inspire new innovation in medical technology that will help underserved patients," said Amanda C. Fowler, Executive Director, Global Corporate Giving of Edwards and Edwards Foundation. "As a convening point for global innovation, the Fogarty Institute is a strong partner for programs that inspire and guide students and startups that will create the next generation of devices seeking to lower healthcare costs and improve patients' quality of life."
Through its innovation program, the Fogarty Institute has hosted and worked with 20 medical device startups and mentored several international companies on medical device innovation. Six of the startups have successfully spun off. The Institute also offers a highly successful hands-on internship program to college and high school students from around the world. This program offers a creative, collaborative, real-world learning environment, which advances student's education and understanding of medical innovation.
About The Fogarty Institute for Innovation
The Fogarty Institute for Innovation is a 501(c)(3) non-profit that helps early-stage medical companies transform their ideas into medical products that improve patient care. Carefully selected medical innovators are offered workspace, research and development resources, financial aid, and world-class mentoring by physicians and industry experts to bring their products to market. The Institute was founded in 2007 by internationally renowned cardiovascular surgeon and innovator Dr. Thomas J. Fogarty, M.D., and it is based on the El Camino Hospital campus in Mountain View, Calif. To learn more, visit www.fogartyinstitute.org, and follow the Institute on Facebook and Twitter.