State grants $200K to Mercy R&D

Gov. Jay Nixon yesterday visited Springfield to announce his administration is awarding a $200,000 grant to Mercy Research & Development.

The grant is being provided by the Missouri Technology Corp.'s Missouri Building Entrepreneurial Capacity Program. With the funding, Mercy R&D will help entrepreneurs create and launch biomedical device companies that develop medical solutions, according to a news release.

Speaking from Hammons Heart Institute on the Mercy Hospital Springfield campus, Nixon said the grant would assist Mercy physicians standing "at the forefront of biomedical research."

"Their spirit of innovation and invention are leading to the development of new medical devices and new Missouri-based startup businesses,” Nixon said in the release. “This impressive organization is a leader in Missouri’s emerging biomedical technology sector, and this grant will assist Mercy in its continued development of innovative medical products to serve as a catalyst for new startup businesses.”

The grant also would help Mercy R&D provide investment capital for startups, the release said.

Mercy R&D, which operates out of Jordan Valley Innovation Center, was established in 2007 and currently employs 12 full-time scientific and business professionals. Currently, the organization has 24 projects in development, according to the release.