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The foundation, established by billionaire businessman and philanthropist Alfred E. Mann, has formed the company to produce and market an infusion pump designed to provide accurate targeted delivery for people suffering from chronic diseases.
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The Alfred Mann Foundation (AMF) established in 1985 healthcare entrepreneur Alfred E. Mann has announced the formation of a new venture in thesector.
The company, known as Medallion Therapeutics will be headed up by Donald Deyo who will be taking the post of CEO while Eric Harris will be the Chief Commercial Officer. Deyo and Harris come with years of experience in the field of medicine and will be overseeing the further development, production and marketing of an innovative infusion pump which will provide totally accurate delivery of prescribed drugs to people suffering from chronic illnesses such as diabetes and neurodegenerative diseases.
The medallion Therapeutics’ infusion pump has been developed by scientists and engineers employed by the AMF with a view to providing the highest levels of safety, connectivity as well as the capability of confusion large molecule masses.
The presence of these capabilities is highly critical in addressing both the requirements of currently approved clinical indications, as well as to provide possibilities for future expansion of the pump.
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According to a spokesperson from Medallion Therapeutics the development of the infusion pump by the team at AMF comes after more than 10 years of research and development to create the novel Medallion implantable drug delivery system.
Deyo and Harris are currently involved in instigating pivotal clinical evaluation for the pump in the United States in order to clear the path for an upcoming submission for pre-market approval (PMA), while at the same time as pursuing CE Mark certification to support distribution in Europe.
Over the years since its founding AMF’s research team has been involved in the development and commercialization of a number of medical devices, whose presence has succeeded in improving the lives and assassinating the treatment of thousands of patients across the globe. The strategy of AMF has always been to strive to develop innovative solutions to what has been recognized as being major demands in the medical profession, often taking companies, such as Medallion to commercialize the newly developed product.
Announcing the formation of Medallion Therapeutics David Hankin, Chief Executive Officer of the Alfred Mann Foundation, remarked that the new infusion pump holds considerable promise of providing patients and physicians with a superior method of infusion therapy than what is currently available on the market. “Don Deyo, Eric Harris as well as the group of AMF research and development professionals who will be joining Medallion Therapeutics go to make up a world class team that will very well equipped to bring this innovative solution to patients around the globe.” Summed up Mr. Hankin.
In response Don Deyo stress that the team of engineers at AMF have succeeded in creating a tremendous platform which will ideally address the major needs associated with currently-marketed implantable delivery devices, as well as opening the door to targeted delivery of large molecules associated with novel biologic therapies for neurodegenerative diseases.
Medallion Therapeutics, Inc. are located located in Minneapolis-St. Paul, MN, regarding as being one of the most important global production hubs for medical device and drug-device combination companies.
Alfred E. Mann graduated with a Bachelor of Science degree and a Masters degrees in physics from the University of California, Los Angeles, where he remained to carry out graduate work in nuclear and mathematical physics.
In the mid-1950s, Alfred E. Mann founded his first company Spectrolab, one of seventeen companies that he would go on to establish during the course of his long and active business life. Nine of the companies that were established by him were later subjects of takeovers, bringing in an overall total of almost $8 billion. Another two companies which Alfred E. Mann founded went on to become public concerns.
Mr. Mann is estimated to have a net worth in excess of $2 billion.
In 1985 Mr. Mann founded the Alfred Mann Foundation for Scientific Research, currently based in Santa Clarita, California, which has been responsible for the development of countless medical devices all of which have helped change the lives of people suffering from a variety of ailments all around the world. Among the better-known and the AMF developed cochlear implant, which has gone a remarkable way in helping those who are hard of hearing to live normal lives, several important products in the arrest and possible cure of diabetes, as well as inventions designed to reduce and eradicate pain or to reduce recovery times after operations.
Alfred E. Mann holds a number of honorary doctorate degrees, among them from the University of Southern California, The Johns Hopkins University, and the Technion – Israel Institute of Technology (Israel).
