Med-tech start-up to move into new downtown digs
A Med City biotech start-up is heading to Broadway.
NaviNetics, a company led by Dr. Kevin Bennet, is building out new offices in the Associated Bank building at 206 S Broadway.
A building permit was filed last week for a “tenant build-out, steel stud/gypsum board, acoustical ceilings, floor finish HVAC” for a 3,850-square-foot office in Suite 700 of the seven-story building.
The estimated value of the build-out is $167,888, according to the permit.
NaviNetics was incorporated by Bennet in 2018. The firm is collaborating with Mayo Clinic in a clinical trial “designed to demonstrate an in-house developed re-attachable stereotactic system that can markedly reduce the overall deep brain stimulation procedure time to greatly facilitate subject access to neurosurgical restorative therapies.”
The brain stimulation could be used to treat Parkinson disease, essential tremors, dystonia, Tourette Syndrome and obsessive-compulsive disorder.
NaviNetics is currently based downtown in Suite 204 of the Kahler Hotel complex, so it won’t have far to move to the new offices.
Cornerstone Management Services managed the Associated Bank building for Bloom International Realty. Bloom, based in Abu Dhabi, paid $7.7 million for the property in 2013.
Jeff Kiger tracks business action in Rochester and southeastern Minnesota every day in “Heard on the Street.” Send tips to email@example.com or via Twitter to @whereskiger. You can call him at 507-285-7798.