FDA to Work With Industry Consortium on Speeding Up Medical Device Approval Procedure

Published date : 04 December 2012
Article date : 04 December 2012

The Star Tribune (US) reports that the FDA intends to collaborate with medical device manufacturers on a public-private partnership basis in order to quicken the development of new medical technology. The FDA aspires to offer guidance to the Medical Device Innovation Consortium which includes companies such as Medtronic, the Mayo Clinic and the University of Minnesota that is driving to simplify the design and testing of medical devices.
A quote from the FDA acknowledges that many medical device companies are small businesses that may not have the research budgets to find more effective ways of testing their devices.
The article says that the FDA's pledge follows criticism from industry supporters who have claimed that the FDA's overly burdened system of reviewing devices may have lead to some companies going out of business as well as slowing down the development of new treatment options.  
Apparently, the FDA has been making recent attempts to reduce red tape and hasten review times.
Source: Star Tribune, 03 December 2012
Read the original article here.
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