Crux Biomedical Named One of Top 50 Companies to Watch
MENLO PARK, Calif., July 12 Crux Biomedical® was named one of "50 Companies to Watch" in an annual survey of medical device and diagnostic companies. The survey, conducted by Medical Device and Diagnostics Industry (MD+DI), was published in its June 2010 issue. The purpose of the survey was to identify firms that have either achieved success or have the potential to revolutionize medical practice with their respective products.
Crux Biomedical, founded in 2004 by Dr. Thomas Fogarty, has targeted the development of an advanced implantable vena cava filter (VCF) to prevent the occurrence of a potentially fatal pulmonary embolism (PE). Each year in the United States, approximately 600,000 patients develop a PE and an estimated 200,000 deaths occur. This is more than the combined deaths associated with breast cancer, highway fatalities and AIDS. The U.S. market for VCFs is valued at $300MM and growing between 8-10% annually.
Although routinely used in the United States, currently cleared vena cava filters are associated with a variety of complications including filter tilt and retrieval difficulty. The Crux VCF is designed to address limitations of currently available VCFs. "The Crux VCF is designed to self-center in the vena cava and has the advantage of retrievability from either the femoral or jugular approach," stated Eric Johnson, V.P., R&D of Crux Biomedical.
Crux Biomedical is currently enrolling patients in its pivotal IDE study in the United States and several international locations. It expects to complete enrollment by the end of 2010. "We are very pleased with the initial physician response to the Crux Biomedical Vena Cava Filter and believe our device will better meet the needs of implanting physicians," stated Mel Schatz, CEO of Crux Biomedical.
The firm is located in Menlo Park, California and is privately funded by Alloy Ventures and Emergent Medical Partners.
SOURCE Crux Biomedical
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