At the same time, the company has hired a 27-year veteran of the medical device industry as its new CEO.
The agreement will allow Cardiovate to continue its research and product development initiatives for its innovative graft technology. Company President and founder Jordan Kaufmann came up with the idea for the new stent as part of her doctoral research at the University of Texas Health Science Center San Antonio. The cardiovascular stent-graph is made with biodegradable materials and is designed to help prevent aneurysm leakage in the aftermath of heart surgery.
Cardiovate’s new CEO, Mark Standeford, previously held key positions at KCI and Hill-Rom, and served as president of M&C Services, a business consulting practice. Over the years, he was responsible for setting strategy and leading company growth through innovative new products and business development.
Standeford says the technology developed by Cardiovate will help address tissue regeneration needs that are key to helping treat and heal the body.
“Better healing with lower risks and treatment costs are key objectives with these products,” he says. “This (agreement) will allow us to develop a portfolio of opportunities that will generate considerable value for patients, clinicians and for the company.”
Since it was founded in 2012, Cardiovate has won numerous awards and honors for its stent technology.
In 2012, Kaufmann won the University of Texas Horizon Fund Student Investment Competition, which came with $50,000 in seed funding. In 2013 at the Innotech Conference, she won the pitch competition at the Emerging Medical Technology Symposium.
Cardiovate currently operates out of the New Venture Incubator, a 3,000 square-foot wet lab located at the UTSA Main Campus managed by the UTSA Center for Innovation and Technology Entrepreneurship (CITE) for the purpose of hosting emerging technology and biomedical device companies.
“UTSA has been fostering the creation of faculty and student startups for several years and Cardiovate is a prime example of a successful research collaboration between UTSA and UTHSCSA that has made the transition to a startup company,” says Cory Hallam, UTSA chief commercialization officer and director of CITE.
For more information about the UTSA Office of Commercialization and Innovation, click here.
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