Frantz Medical Group Subsidiary, VasoStar, Awarded $1 Million Research Grant
CLEVELAND, July 20, 2011 /PRNewswire/ -- One of Frantz Medical Group's (FMG) subsidiaries, VasoStar Inc., Mentor, Ohio today announced that it has been awarded an Ohio Third Frontier grant to further develop and commercialize a novel electromagnetic guidewire system for penetrating through vascular Chronic Total Occlusions (CTOs), in lieu of invasive open heart surgery such as Coronary Artery Bypass Graft (CABG).
VasoStar's primary clinical development partner is the Cleveland Clinic's Lerner Research Institute. The VasoStar advisory team consists of world renowned cardiovascular clinicians including Dr. Patrick Whitlow, Director of Interventional Cardiology, Cleveland Clinic; Dr. Kiyo Fukamachi, Director of the Cardiovascular Dynamics Laboratory, Lerner Research Institute, Cleveland Clinic; Dr. Marc Penn, Director of Research, Summa Cardiovascular Institute; and Dr. Peter Fitzgerald, Director of the Center for Cardiovascular Technology and Director of the Cardiovascular Core Analysis Laboratory (CCAL), Stanford University Medical School. VasoStar has also received grant support and technical and commercial counsel from the Global Cardiovascular Innovation Center (GCIC), an Ohio based product commercialization consortium led by the Cleveland Clinic.
This $1,000,000 grant, in addition to FMG's financial and engineering support, will allow VasoStar to complete development of and collect additional safety data for the guidewire and catheter system in preparation for FDA and CE regulatory submissions. The VasoStar technology has been demonstrated to be safe in an animal study performed at the Lerner Research Institute. A number of preeminent interventional cardiologists have provided positive feedback regarding the VasoStar system's usability and potential effectiveness following hands-on experience with prototype devices in arterial pathway models with simulated blockages. With the assistance of the Ohio Thir