BioEnterprise: Investments in local biomedical companies since 2002 surpasses $2 billion plateau

Story excerpt provided by Crain’s Cleveland Business.

Written by Chuck Soder.

More than $2 billion has been invested in local biomedical companies since 2002, according to the latest tally from BioEnterprise Corp.

Passing the milestone suggests that Northeast Ohio has become a significant player in the biomedical industry, according to several people quoted in a news release from BioEnterprise, a Cleveland-based nonprofit that assists local health care companies.

A big chunk of that $2 billion was raised last year, when local biomedical companies attracted a record-smashing $398 million. That total almost certainly got a big boost from a large investment attracted by CoverMyMeds, a health information technology company based in Twinsburg.

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Originally published February 26, 2015.