Venn Life Sciences has announced the launch of InnoVenn, Venn’s new innovation division set up to focus on co-development opportunities, particularly in the medical device arena.
The goal of InnoVenn is to accelerate the commercialization of life science products in the later stages of development.
InnoVenn’s first co-development initiative will be a joint venture with two Irish biomedical companies, Cellulac Limited and Biopharmed West Limited, developing the next generation of biodegradable human implants, to replace the widespread use of titanium in orthopaedic surgery.
Biodegradable implants degrade at the same rate as the matching tissue which eliminates the need for further surgery to remove and replace metal alternatives.
Venn will provide clinical research services at a subsidized rate for the project for a future carry within the ventures.
The launch of InnoVenn comes at a time which has seen Venn expanding its operations throughout Europe. Following on from the establishment of Venn Russia in February 2013, the Company also announces that it has recently opened an additional office in the UK, extending its reach throughout Europe.
The new UK office has seen Venn augment its Clinical Resourcing business with the appointment of Stewart Hulse as Vice President Resourcing.
Stewart has over 15 years of clinical research and recruitment experience and has placed business in over 19 countries worldwide.
Venn currently provides resourcing solutions across Europe exclusively in the areas of clinical research across all positions.
Commenting, Venn CEO, Tony Richardson, said: “This joint venture instantly provides access to medical device technologies that fit well within our strategic vision. With the expansion of our coverage and services throughout Europe we are able to offer our clients valuable on the ground support in the all too often difficult area of managing clinical trial across European borders.”