Med-Tech Start Up Company in Minnesota Feels the Effect of Sandy As Their FDA Meeting Was Postponed And Could Take Up to 90 Days
Posted Nov 13 2012 5:22pm
This is a company that is very low on cash and the meaning derived from this story is the fact that it is expensive to bring a product to market and this company is getting close to running out of money. Can they wait 90 days and will they have to wait is the question as the leader looks around as everyone except one person has been laid off.
The technology to be approved is one that diverts blood from the heart to the brain to use with stroke therapy. The technology, NeuroFlo has the CE Mark in Europe. Right now as it stands they have burned through $70 million in VC funded money and is waiting to hear from the FDA if they can market the product for treating ischemic stroke. BD
Entrepreneurs didn't have to be in lower Manhattan to be hammered by super storm Sandy. A medical technology company in far-off Maple Grove, Minnesota, took a direct hit.
For Andrew Weiss, a meeting in Washington with the federal Food and Drug Administration that was postponed this week because of Sandy, could have life-or-death consequences for his business