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Research Outline

Prepared for Nick S. | Delivered February 14, 2020

Rion Health Company Summary

Goals

To gain a complete understanding of Rion Health in preparation for a meeting by looking at information in addition to what is on the company's website.

Early Findings

  • Rion has continued their presence in Minnesota by recently renting office space in One Discovery Square in Rochester and expanding the “biotechnology sector” in the state.
  • One Discovery Square is an office space that is leased to entrepeneurs, scientists, and researchers in biomedical research. The center is a public-private partnership between Minnesota and Mayo Clinic.
  • Rion was founded in 2014 and is a Minnesota-based company.
  • The company is registered to Dr. Atta Behfar and Dr. Andre Terzic who work at Mayo Clinic and is part of the Mayo Clinic Employee Entrepreneurial Program.
  • Both doctors lead the Cardiac Regenerative Mecidine Team at Mayo.
  • Mayo Clinic owns equity in the company.
  • The founders of the company once worked closely with a Belgium company, Celyad, that specialized in stem-cell research.
  • Rion's primary focus is on “extracellular vesicles” (EVs) and how they can regenerate tissues in the body.
  • In 2016, Rion filed a patent for adapting healing properties of cells in EVs into a type of product. These patented EVs could help restore and heal damage tissues in the body such as heart disease and joint problems.
  • Rion looks to provide “low cost and off-the-shelf” regenerative technologies.
  • The company is looking to help develop Rochester into a “local biotech business cluster” and make Rochester a medical destination.
  • In 2019, Rion partnered with Medovex to create a “proprietary cellular platform.” It was reported that both Behfar and Terzic were on the board of directors for Medovex until they resigned.
  • Medovex bought out Lung Health Institute that had been sued by patients for deceptive marketing.
  • Behfar said the partnership with Medovex is for COPD and they would used FDA-approved trials and would not provide treatment until it have been “rigoursly” tested and they were unaware of Lung Health Institute’s lawsuits and functions.