Twin Star Medical, a catheter technologies company, said it will be moving its business to the Excelen Center for Bone & Joint Research and Education in November.
"Our business is maturing and we needed a location that can support our growth," said Twin Star CEO and Director Jim Stice in a statement released on Wednesday.
Excelen, a non-profit research and education organization, is located near Hennepin County Medical Center in Minneapolis. Stice said the close proximity will make human studies easier, there will be access to lab facilities and equipment and its "important collaborators are right there."
Twin Star Medical will lease a 4,000 square foot space and is expecting three research and development grants this year that will total $7.5 million.
The business is currently based at the University Enterprise Laboratories in St. Paul. UEL is in the process of raising money to expand its 125,000 square foot space by an additional 40,000 square feet.
