Steve Ellis was quoted in “Acquisitions Aren’t Always a Hit for Local Companies” in the May 3 issue of Crain’s Cleveland Business. Crain’s quoted Steve as saying that pharmaceutical companies will often buy startups for the drugs they have developed, and then close their offices.

“Getting a new drug through the development and testing phase is ‘such a grind’ that startups often need to find a buyer before a drug reaches the market, Ellis said. … Even so, Ellis is a big fan of regional efforts to convert research being done at local hospitals and universities into medical technology companies. He said that ‘an awful lot of people can enjoy wonderful careers’ creating and working for medical startups.” Read the entire article here.