Company name: Cardia Access Inc.
Industry: Medical Device.
Location: Eden Prairie, Minnesota.
Solution/product: Developing lead conductor technology that is patent protected, according to Twin Cities Angel website. Company has no website.
Money raised: $160,000 out of a total of $5.4 million sought.
How it will be used: Unknown; Chairman and CEO John Erb did not immediately respond to a request for comment.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Investors: Twin Cities Angels (only known investor).
Management team: John Erb, chairman and CEO, U.S. Securities and Exchange Commission filing lists Ronald Nelson and Kenneth Cutler as executive officers.
Market size: Total cardiac rhythm management, which includes the lead market, will be $27.7 billion by 2017, according to Global Industry Analysts.
Competitors: Acclarent, Sorin, Medtronic, Boston Scientific and St. Jude Medical.
