Medical Device Development Group and Moffitt Cancer Center Form Tampa Medical Innovations to Commercialize Inventions

TAMPA, FL--(Marketwire - Feb 3, 2012) - Medical Device Development Group, specialists in the commercialization of medical devices, has announced a joint venture with Moffitt Cancer Center. The new organization, called Tampa Medical Innovations (TaMI), will commercialize medical device inventions envisioned by the Moffitt medical team.

The lead product is an IV closure system designed to eliminate blood loss during IV insertion and reduce the potential for blood-borne pathogen exposure. "The process of connecting intravenous fluid tubing to a catheter that has been inserted into a vein basically requires three hands," explained Tariq Chaudhry, M.D., the inventive anesthesiologist at Moffitt. "The Stat-Clip system is a break-through technology that solves a long-standing issue in the practice of IV therapy by eliminating blood exposure between establishment of patency and connection of the IV line."

There are approximately 176 million IV procedures performed annually in the United States, and each has the potential for cross contamination and blood-borne pathogen exposure, two key sources for infection.

"We are delighted to join with Medical Device Development Group to bring important new inventions to market," said Haskell Adler, PhD, MBA, Senior Licensing Manager at Moffitt. "We believe that this venture is the best way to accelerate commercialization and get these innovations into routine use worldwide."

"Some of the best innovations come from doctors and nurses whose daily patient care leads them to see a need and find a solution," said Bill Knab, CEO of TaMI. "Our goal with TaMI is to transform these inventions into products that will improve patient care and simplify medical procedures."

TaMI is currently seeking first-round funding to accelerate the development of the Stat-Clip system as well as other medical innovations from Moffitt.

About Moffitt Cancer Center
Located in Tampa, Moffitt Cancer Center is the only Florida-based National Cancer Institute Comprehensive Cancer Center, a designation that recognizes Moffitt's excellence in research and contributions to clinical trials, prevention and cancer control. Moffitt has 14 affiliates in Florida, one in Georgia, one in Pennsylvania and two in Puerto Rico. Moffitt is also a member of the National Comprehensive Cancer Network, a prestigious alliance of the country's leading cancer centers, and is listed in U.S. News & World Report as one of "America's Best Hospitals" for cancer.

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About Medical Device Development Group
Medical Device Development Group (MDDG) was founded in 2006 by experienced medical device executives, each with more than 20 years in the industry. With a focus on devices in Class 1 to Class 3, MDDG offers comprehensive product development as well as skills that extend from product conceptualization, through prototyping and manufacturing, to order fulfillment. MDDG's proprietary business methodologies and processes have been proven to reduce time to market and enhance profitability.

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Media Contact:
Lynn Hood