The story of Cardioptimus began in the operating room with a discussion of the clinical challenges faced by doctors. Participants of the University of Missouri BioDesign and Innovation Program – Clint Matthews, MBA; Kyle Rood, ME; and Josh Arnone, PhD – found a particularly interesting challenge, the high stroke rate in transcatheter aortic valve replacement (TAVR). They researched and developed solutions and pitched their results to the program’s board.
The pitch resulted in Cardioptimus, a medical device company based in Columbia, Mo. With the help of Whiteboard to Boardroom, the fledgling company established a joint venture with Kansas City company Epic Medical Concepts and Innovations (EMCI) to commercialize its Embolisher, a supplemental safety device for use in TAVR. This minimally invasive device enhances the safety of TAVR, helping to eliminate the high stroke rate that has been a major clinical hurdle associated with the procedure. “W2B has opened multiple doors for us and allowed us to pursue higher-level opportunities than we could have given our resource limitations,” said James Lucas, President of EMCI.
W2B helped Cardioptimus define their path toward commercialization, including licensing and funding, and facilitated the joint venture with EMCI. The W2B staff guided the Cardioptimus team through the process to secure $50,000 from the Missouri Technology Corporation. Additionally W2B assisted the company with the identification, creation and submission of an NIH SBIR FastTrack application. Cardioptimus hopes to secure $2 million in funding in the short term for further commercialization activities.
“Coming into the process, we were hungry guys—and it’s easy to get overwhelmed with everything you have to learn when you’re trying to create a device, start a business and make it all work,” said Matthews, CEO. “W2B has been great about giving us the right direction and the right connections.”
The Whiteboard2Boardroom program provides a number of services to the regional entrepreneurial community. These include access to innovations developed at regional academic institutions and research organizations, establishment of strategic partnerships, identification of sources of capital and identification of CEO talent for startup companies. W2B staff members serve as “matchmakers” with service providers such as the UMKC SBTDC and KCSourceLink partner to assist with business connections and services.