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In recent months the FDA has been highlighting efforts to slash red tape and accelerate review times. The new consortium will take suggestions from its members on initial projects for research. The group has raised about a half-million dollars in funding from industry members, but hopes to double that amount in the first year, according to the group's interim director, Maura Donovan. The Medical Device Innovation Consortium was created by LifeScience Alley, a Minnesota-based group that includes companies like Minneapolis-based Medtronic Inc., the world's largest medical device company. The group also includes research institutions like the Mayo Clinic and the University of Minnesota.
[Associated
Press;
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