CorMetrics is a pre-revenue stage medical device start-up developing sensor based interventional devices for the cardiology market. The company will design, develop and manufacture these products in Cleveland – we are currently leasing a space at MAGNET. CorMetrics is a spinout of CorCadence Inc., which is wholly owned by Gene Jung, Subba Shankar, and Reza Mohammadpour. The technologies are protected by IP enabling premium pricing and offering differentiated performance. Initial applications were selectively chosen based on opportunity and potential, capitalizing on an emerging trend focused on individualized healthcare delivery, where the use of advanced diagnostic technologies helps optimize treatment for each individual.
A portfolio of devices is planned. The first is a Fractional Flow Reserve guide wire system for use in percutaneous coronary interventional (PCI) procedures. This market has shown high growth rates, but remains highly underpenetrated. The current products serving this market are old and vulnerable. Our product incorporates state of the art technologies enabling game changing improvements in performance, cost and patient outcomes. The preferred 510(k) FDA regulatory pathway has been established for this product. This offers an attractive ground floor investment opportunity.
The company received a $100,000 Innovation Fund B award in November 2015.