The Life Sciences team advised Coridea in its collaboration with Deerfield Management Company, named Deerfield Device Design and Development Catalyst, to advance medtech innovation and accelerate the formation of commercial companies. The initiative combines the resources of two established health pioneers and will aim to launch 10 new companies over the next five years. Structured to support company formation and growth, the incubator includes funding for operating expenses, early idea generation, and project and company evaluation. The medtech incubator hub and newly formed companies will be housed in the Cure building at 345 Park Avenue South in Manhattan.
Coridea, based in New York, NY and Santa Clara, CA, is a next-generation medical device incubator that develops solutions that change the lives of cardio, pulmonary and renal patients. Coridea has started 10 venture-backed medical device companies and returned $1.2 billion to investors.