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June 23, 2015

Couple give Rochester a double kick with 2nd gym

A Rochester gym is now giving the Med City a double kick with a new second location.

Daniel and Norma Flores opened their second 9Round Gym on June 10 in Suite 104 at 3270 19th St. NW. That's in the 19th Street Business Park.

Photo_4_1382974688_1"This is area is really growing," said Norma Flores of the new gym. "We have a lot of members from Byron, Mantorville and Kasson. This is a good spot for people to stop before or after work."

The fitness franchise offers a 30-minute circuit workout based on boxing and kickboxing training. The workouts involve aerobic, anaerobic and strength training, tailored to each members' ability.

Members can come in at anytime and be guided through the nine workout stations or "rounds," including kettle bells, jump ropes and lots of punching and kicking.

"The workout changes every day and there's always a trainer to help and encourage," she said.

In 2013, the Flores opened their first 9Round Gym in the River Center Plaza. They later moved that original gym to Suite 101 in 2571 Clare Lane NE. That's in the Century Business Plaza.

They now have about 300 members. In addition to the two owners,  9Round has a staff of six trainers.

June 15, 2015

Former Cardio3 launching $99 million IPO in US and worldwide

Celyad, formerly Cardio3 Biosciences, announced the terms for its $99 million stock offering this morning.

The Belgium-based Celyad, which is building a manufacturing facility in downtown Rochester and has close ties with Mayo Clinic, hopes to raise $99 million by offering 1.4 million shares at $70.98 per share.

CelyadWhile Celyad has traded on the European stock markets of NYSE Euronext Brussels and NYSE Euronext Paris for some time, this stock offering would introduce the regenerative medicine firm directly to the U.S. market. It has applied to make the U.S. offering on the Nasdaq stock market under the symbol CYAD.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. It cannot sell or accept offers to buy until the SEC OKs the registration.

This move could benefit Mayo Clinic, which owned 2.69 percent of Celyad as of March 3. Mayo Clinic first acquired equity in Cardio3 in 2007, when it licensed stem-cell research by Mayo Clinic's Dr. Andre Terzic and Dr. Atta Behfar. Its cardiopoiesis technology repairs patients' hearts by re-programming their own stem cells to regenerate cardiac tissue.

Earlier this year, the Rochester City Council recently approved a lease for Celyad to take over the entire fifth floor of Rochester's Minnesota BioBusiness Center. Rochester Area Economic Development Inc. and the Minnesota Department of Employment and Economic Development also are involved in the deal.

Celyad is building a prototype manufacturing facility in the 14,963-square-feet of space on the fifth floor of the downtown building. Mayo, which leases the fourth through eighth floors, moved its employees out of the fifth floor earlier this year. The five-year lease calls for it to pay a rent of $18 per square foot, or $22,444.50, per month. The city agreed in the lease to pay for $600,000 in equipment and improvements to the space.

DEED is offering Ceylad a $357,000 Minnesota Job Creation Fund award if it invests $1.5 million in Rochester within a year and hires 33 employees within two years. The average wages of the new jobs will be $21.52 per hour.

May 28, 2015

Mayo hires consultant to map out Discovery Square

To help fire up Discovery Square as "a catalyst" to create jobs in downtown Rochester, Mayo Clinic has contracted a feasibility study, independent of the Destination Medical Center Corp.

Mayo Clinic has hired the DMC development manager, Hammes Co. of Madison, Wis., to analyze the Discovery Square piece of the DMC vision and offer a market plan of how DiscoverySquarethe medical and technology research area might be developed. Mayo is paying Hammes $1.5 million to conduct the study, which is expected to be completed by the end of the year.

One expected tenant is Epic, a Madison-based software system that recently signed a contract to help build an electronic health record system for Mayo Clinic. It's planning on having many employees based in Rochester.

"They've indicated a strong interest in the Discovery Square concept, and we're exploring ways they may participate in that," said Bolton.

Discovery Square is described as "the focal point" for Mayo Clinic's expansion of its science and technology institutes, and it's designed as a place for private companies and others to work with Mayo on research and other projects. It's marked on the DMC map as being central to the Gonda Building and the Mayo Medical School.

"The Square is designed to be playful and artful, similar to the Google Commons in order to, quite simply, attract the best and the brightest, the most creative minds in the world," according to the DMC plan.

Mayo Clinic owns about 35 percent of the property within the proposed Discovery Square area.

The goal of the new study is to map out the area more specifically and identify potential partners and funding streams to make it sustainable.

Jeff Bolton, Mayo's chief administrative officer and the chair of DMC's Economic Development Agency, said Mayo funded the study because it's not part of the DMC EDA's scope.

"The EDA budget is really to provide staffing to support the DMCC board, to work with developers and help market the DMC concept," he said. "Mayo Clinic views this as area where we could serve as an important catalyst to advance the DMC vision. That's why we stepped up and are making this investment."

Mayo Clinic's relationship with Hammes dates back to the very early days of the DMC concept in 2008 before it became public. Mayo Clinic first officially contracted with the company about DMC in 2011. When the EDA signed its own contract with Hammes last year for $2.3 million a year, it had no ongoing Mayo contracts.

Bob Dunn, president of Hammes, explained that this study will be similar to his company's work on the overall DMC plan but will be much more detailed.

This study will include a master plan, a conceptual design, preliminary engineering, financial analysis, financing plan, a market analysis, a review of effective land use and operational aspects for Discovery Square.

"This will be a block-by-block plan," he said. "But we're not starting at ground zero. Mayo, which owns a good portion of the land in Discovery Square, has already thought a lot about this development."

Meanwhile, Mayo is actively working with companies to try to get them to locate there, Bolton said.

"We're out marketing the concept," said Mayo's Bolton. "Obviously, we have an interest in terms of attracting groups to collaborate with us."

The project's success likely will be driven by what partners want to work with Mayo Clinic.

"If I were to forecast, I'd say there will be multiple of owners of facilities in Discovery Square. Many will probably be owned by private developers," predicted Bolton. "There won't be a monolithic owner of the facilities. The free market will play out in this environment."

He added that Mayo Clinic may participate "directly or indirectly" in some of the development.

The multimillion dollar question is when actual development of this new job generator area will begin.

"We'll need a critical mass of corporate engagement in order to have a developer to put that first shovel in the ground," said Bolton.

Dunn said this is a fascinating feature of what is already a unique project.

"DMC and Discovery Square, to me, is one of the most interesting things that I can think of nationally in terms of major economic development," he said. "It's unique because impact Mayo Clinic can bring to something like this in a market that's now beginning to mature and evolve very quickly."

May 05, 2015

Tech security chief leaves Mayo Clinic for new job

Mayo Clinic's chief information security officer is leaving Rochester to join a Colorado technology firm.

3a01a19James Carder made the announcement on Twitter Tuesday saying, "It's with mixed emotions to announce that I have officially left Mayo Clinic and taken a new role as CISO (chief information security officer) @LogRhythm & VP of @LogRhythmLabs."

Carder was Mayo's technology security chief from June 2013 until this week. Described as "a frequent speaker at industry events and noted author of several security publications," Carder managed the security of the 250,000 to 300,000 devices connected to Mayo Clinic's network, according to the Wall Street Journal.

While at Mayo Clinic, the Wall Street Journal said he also created "an incident response infrastructure" and as well as Mayo Clinic’s first cyber threat intelligence organization.

At LogRhythm, Carder will serve as the chief information security officer and vice president of LogRhythm Labs. The Boulder, Colo.-based firm stated in the announcement of the hiring that Carder will set "the vision for and direct the company’s global information security program." He will manage 12 employees.

Carder told the Wall Street Journal that his primary reason for the move is "speed."

“The main difference is that things you do have a ripple effect quickly,” he explained to the WSJ.

April 30, 2015

Lisa Clarke to officially become leader of DMC's EDA

More than a year after starting a national search for an executive director to lead the Destination Medical Center's Economic Development Agency, Mayo Clinic's Lisa Clarke has been hired to fill that role.

As DMC's board secretary and Mayo Clinic's Community Engagement head, Clarke has filled the interim role of leading the EDA from the organization's start.

The DMC group originally posted advertisements for the position in February 2014, in hopes of hiring someone by April of that year. This hiring is solely the responsibility of the EDA and doesn't involve the DMC Corp. board or the Rochester City Council.

Clarke previously described her role as the first executive director of the EDA as building the organization and creating the processes as well as getting approval of the DMC master plan. The next director has a different job ahead of them.

"The first full time executive director's role will be to execute the plan," she said. "The important thing is to get someone who has the experience in economic development and in development, in general. The most important thing is to get the right person with the right skill set."

While Lisa Clarke will step into the role of EDA director, she will remain connected to Mayo Clinic.

"The technical answer is that she's 100 percent an employee of the EDA," said Jeff Bolton, Mayo Clinic's Chief Administrative Officer and chair of the EDA . "However, we did not want her to lose the benefit of being a Mayo employee."

Bolton explained that all of the personnel costs related to Clarke will be covered by Mayo Clinic from that $585,000 annual contribution to the EDA.

"I'm part of the package," said Clarke with a grin.

When asked about Mayo Clinic's relationship with the EDA, Bolton said, "The EDA is a separate legal entity. It is separate from Mayo."

Clarke plans to set up an office for the EDA staff in the roughly 6,000-square-foot former Red Lobster space at 195 S. Broadway.

The space is on the street level of the 60-year-old Rosa Parks Pavilion building. Mayo bought the building for $2.37 million in 1997, and Red Lobster leased space there from 1987 until it closed in 2011 and opened in a new building by Apache Mall.

With the hiring of Clarke and the EDA moving into Mayo Clinic office, is Mayo Clinic concerned about the possible appearance that it is controlling the EDA?

"I do think the EDA an independent agency is the right approach, the right structure. This is a many part orchestra, if you will. I do see Mayo having one voice in this with the city, county  and the state," Bolton said. "I think there's a good separation without making it independent of the entire process. Everything is really tightly connected, really tightly coordinated."

Clarke echoed Bolton's sentiments about the relationship between Mayo and the EDA.

"It truly has been a very positive thing to have all of these players around the table to represent the diversity of the community and its diverse businesses with Mayo Clinic being the largest," she said.

Lisa Smith, the lieutenant governor of Minnesota and chair of the DMCCorp. board of directors said that Mayo's role is important to the big picture.

"From the perspective of the state, it's great to have a really, really strong anchored tenant in the private sector. We've got four strong partners with very specific ideas about moving this forward," she said. "There are a lot of strong opinions around the table. I think it works very well."

April 24, 2015

Shorewood senior complex to add health, wellness center

A senior living complex in southwest Rochester is adding a more than $2 million health and wellness center to its complex.
Shorewood
Construction started this week at Shorewood Senior Campus, at 2115 Second St. SW, on the more than 11,000-square-foot center, which will include a warm-water pool, exercise areas and therapy rooms. It's being added on the south side of the complex, near the main entrance.

Campus Director Eric Huntoon estimates the new addition should be completed by late September or October.
 
"We're going to try to incorporate some interdisciplinary type therapies, like acupuncture, massage therapy, podiatry, physical therapy and things of that nature," he said. "This is an opportunity to provide an additional outlet for our residents."

Huntoon said it also could help Shorewood residents prevent falls, since pool therapy helps improve balance, strength and range of motion.

The new center also will include a very specialized therapy pool called Hydroworx, which includes a platform treadmill that lowers into the water. Many professional athletes use it to recover from knee injuries. Shorewood plans to reach out to area high schools about possibly allowing high school athletes to use it.

Shorewood, which is managed by Minneapolis-based Silvercrest, has 229 apartments — 155 for senior living, 61 for assisted living and 13 for memory care.

Huntoon acknowledged the senior-housing market is becoming much more competitive in Rochester with the recent openings of Waters on Mayowood and River Bend Assisted Living. However, Shorewood has been full to capacity for the past 18 months and has a waiting list.

"With so many people turning 65 in the U.S., demand is certainly going to be outpacing the supply," he said.

April 22, 2015

Mayo Clinic to expand Saint Marys power plant

As part of Mayo Clinic's ongoing growth in Rochester, work has started on a project to expand the Saint Marys Campus' power plant. St_Marys_Hospital,_Rochester,_stone_marker

“The project will include a 5,000-square-foot addition onto the south side of the power plant at the Saint Marys Campus to increase plant cooling capacity," according to Kelley Luckstein, of Mayo Clinic.

The addition is needed to create space for a chiller and associated pumps and piping.

Grading for the project began recently. Luckstein estimates it will be completed by February 2016.

April 16, 2015

Cardio3 changes name to better fit new focus

The Mayo Clinic-linked firm Cardio3 Biosciences, which is building a manufacturing facility in downtown Rochester, has abruptly decided to change its name to better fit its widening focus in the growing area of cell-based therapies.

Cardiobioscience_jpegThe Belgium-based biotech firm announced Wednesday that it changed its name to Celyad. It started using the new name immediately, though shareholders will not vote on the change until its annual meeting May 5.

This sudden move comes as the company is preparing for an initial public offering on the U.S. stock exchange. Celyad has not released a date for the IPO.

CEO Dr. Christian Homsy was quoted in a company statement saying this new name fits with the firm's new direction following its recent $10 million acquisition of Celdara Medical's oncology division, OnCyte. That signals an expansion beyond its stem-cell-based cardiac regeneration therapy into immuno-oncology. The regenerative stem cell therapy is based on research done by Dr. Andre Terzic and Dr. Atta Behfar, licensed from the Mayo Cli6a00d83451cc8269e201a511d8e824970c-250winic.

“We believe that the name change better aligns our identity with our core activities and overall unified objective of identifying and translating innovative cell-based therapies into therapeutics, not only in cardiology, but now also in oncology and potentially in other areas in the future,” Homsy stated in the announcement of the new name.

Celyad's U.S. communication staff said Wednesday that no one from the company could publicly comment on the name change, other than through the press release. Celyad spokeswoman Kirsten Thomas, of The Ruth Group, explained the silence was due to the U.S Securities Exchange Commission's imposed "quiet period" on promotional publicity during the buildup to the IPO.

Mayo Clinic and Celyad have collaborated since 2007 on the cardiopoiesis technology that the company uses to repair patients' hearts by re-programming their own stem cells to regenerate cardiac tissue. Mayo Clinic owned 2.69 percent of the company as of March 3. Mayo Clinic also is participating in a Celyad clinical trial.
Celyad
If the stem cell therapy makes it to the market, Celyad will pay Mayo Clinic $1 million a year for four years for research as well a 2 percent royalty on sales for 15 years, the press release says.

5503a0ea8a679.image"We are excited that Celyad is branching out beyond cardiology into areas such as oncology," stated Jim Rogers, the chairman of Mayo Clinic Ventures. "Our hope is that they are building a robust capability to deliver breakthrough therapies in the area of regenerative medicine, which is a significant priority for Mayo as well."

The name change comes before new signs have gone up in the city of Rochester's Minnesota Biobusiness Center. The city signed a lease with Celyad earlier this year for it to develop a prototype manufacturing facility in the 14,963 square feet of space on the fifth floor of the downtown building. The five-year lease calls for Celyad to pay a rent of $18 per square foot, or $22,444.50 per month. The city agreed in the lease to pay for $600,000 in equipment and improvements to the space.

The Minnesota Department of Employment and Economic Development also signed a deal with Celyad on Jan. 12 to receive a Minnesota Job Creation Fund award of $357,000. To collect the money, it must invest $1.5 million in Rochester within a year, plus hire 33 employees within two years.

The ultimate goal of the project is for the city, state and Rochester Area Economic Development Inc. to eventually convince Celyad to build a 100,000-square-foot manufacturing facility with 350 employees in Rochester, according to RAEDI officials.

However, Rochester is not the only city wooing the Belgium company. While the Rochester facility is the company's first official U.S. location, it also has plans to build a U.S. headquarters in Boston.

It seems as though Celyad is at a turning point. The company has worked on developing its cardiac regenerative therapy since 2007. While it has seen many positive results from trials in Europe and research in the United States, it has no products currently on the market.

The company lost $18.1 million in 2014, up from $15.9 million in losses in 2013. While the cardiopoiesis technology developed by Mayo Clinic appears to be promising, the company seems to be embracing the new CAR T-Cell cancer-fighting approach — essentially, a cancer vaccine — that it purchased from Celdara Medical for $10 million earlier this year.

"Our acquisition of the OnCyte CAR T-Cell portfolio in early 2015 heralds the first major step in our strategy to leverage our unique expertise in cell therapies and drug development to expand beyond the cardiac arena to develop breakthrough treatments to change the outcome of disease," stated Homsy last month.

"We are excited to be expanding our product offering into the prominent area of immuno-oncology and anticipate the initiation of the Phase I trial of our lead immuno-oncology candidate, CAR-NKG2D in the first half of 2015 and look forward to sharing details of our progress as we evaluate its clinical potential," Homsy said. "We intend to leverage our cell therapy know-how and infrastructure to quickly progress those assets into later stage clinical trials in 2016, aiming at more than five trials in liquid and solid tumors in the USA and Europe."

Many companies are vying for a spot in the hot CAR T-Cell area to be the one to develop the breakthrough cancer vaccine. The worldwide market for such vaccines was recently estimated to $8.4 billion in 2020.

April 10, 2015

FDA gives green light to Rochester medical software start-up

A Rochester medical software start-up with financial ties to Mayo Clinic says getting approval from the U.S. Food and Drug Administration is a major milestone for the company.

"It's tough to get. It's a big deal for us. Historically been rare in the software industry to have these type of devices to fall into that class," said Al Berning, CEO of Ambient Clinical Analytics.

Berning is known in Rochester as a former IBMer, a co-founder of Pemstar and former CEO of Hardcore Computers/LiquidCool Solutions.

Ambient, which was founded in 2013, makes analytical software that helps physicians make decisions about patient treatment in emergency room and intensive care situations. The FDA gave 510(k) clearance for Ambient's AWARE software platform as a Class 2 device this week.

The FDA has three classes with highest level being Class 3, which is typically used for implantable devices like pacemakers and heart valves. Dental floss is categorized as a Class 1 device. An example of a device with a Class 2 ranking is a condom.

Ambient, which licenses the core of the AWARE software from Mayo Clinic, describes it as "a clinical decision support tool."

Berning explained that means it uses algorithms to shift through massive amounts patient data, prescription reports and more to select the most important information for the clinical staff to consider during real-time treatment of patients.

"It takes a lot of administrative and IT drudgery off of the physician to allow them to focus on medical care," he said.

Ambient has 10 employees and it's based in the Mayo Clinic Biobusiness Accelerator in the Minnesota Biobusiness Center. Berning says the firm plans to add more employees within the next several months.

"We could need to double or triple our staff," he said.

Berning plans to announce the commercial availability of AWARE at the top health care software industry conference next week in Chicago.

"That's where we'll let everyone know that we are open for business," he said.

April 06, 2015

Mayo Clinic's Noseworthy makes top physicians list, though down from 2014

Mayo Clinic CEO Dr. John Noseworthy made Modern Healthcare magazine's 2015 list of most influential physicians, though he dropped down four places from the previous year.

Noseworthy was ranked at 6th in the 11th annual 50 Most  influential Physician Executives and Leaders. That's up from down from his previous ranking of second in the 2014 and 2013 lists. He was listed at 11th in 2011 and 31st in 2010. He was named president and CEO of Mayo Clinic in 2009.

Noseworthy-730The magazine describes the criteria of making the 50 Most Influential Physician Executives and Leaders list as "physicians working in the healthcare industry who are deemed by their peers and an expert panel to be the most influential in terms of demonstrating leadership and impact."

In recent years, Noseworthy has also made the magazine's annual list of 100 most influential people in healthcare. In 2014, he was ranked at No. 16. That list typically comes out in August.

That list also included the salaries of the leaders. The 63-year-old Noseworthy's salary was $1.75 million in 2012. It increased to $1.9 million in 2013.

The leaders of Mayo Clinic's perennial competitors, Cleveland Clinic and John Hopkins, also made the 2015 influential physicians list. However, they were much further down than Noseworthy. Cleveland Clinic's CEO Delos “Toby” Cosgrove was listed at 13th and Johns Hopkins Medicine CEO Paul Rothman came in at number 20.

Modern Healthcare named Dr. Robert Wachter as the most influential physician in 2015. He's the chief of the medical service at University of California San Francisco Medical Center and chief of the division of hospital medicine.

Richard Gilfillan, president and CEO of Trinity Health in Livonia, Mich., was ranked second. The Director of the Centers for Disease Control and Prevention in Atlanta, Thomas Frieden, was third.