Who will be the next Medtronic? What will be Minnesota's next breakthrough industry? James Walsh will provide the latest information and commentary on the people, companies and trends driving innovation in Minnesota. From visionary entrepreneurs to game changing technologies, this blog offers a window into the future of Minnesota's economy.
A local start-up has agreed to license technology from the University of Minnesota that may offer patients a non-invasive alternative to dealing with clogged arteries.
Chaska-based International Cardio Corp. plans to commercialize an image-guided ultrasound device that will work as a virtual scalpel by applying non-ionizing radiation to abnormal tissues. The company plans to use its product to treat atherosclerosis, a condition that may lead to a blockage of the arteries due to plaque.
Donald Knight, the company’s president, said his goal is to develop the technology as a noninvasive alternative to angioplasty, a procedure that involves inserting a small balloon catheter to clear arteries.
ICC started human clinical trials this year and the company will seek FDA approval, according to its website.
The company said it needs up to $12 million to complete its plan. A document on its website said the company raised $802,435 in its first fundraising round and later bridge financing worth $895,071.
The team that developed the technology was led by Emad Ebbini, an electrical and computer engineering professor at the College of Science and Engineering. Ebbini said he thinks the technology can be applied in other areas, including the treatment of cancer.