Two years after its launch, start-up biotechnology company Cardiovate has acquired a patent and technology license agreement with the University of Texas at San Antonio (UTSA) and the University of Texas Health Science Center (UTHSC). Cardiovate will now be able to continue its new stent-graft-tissue engineering scaffold for aneurysm repair (TESAR), a technology designed to prevent aneurysm leakage following cardiovascular surgeries.
Cory Hallam, UTSA chief commercialization officer, explains that “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.” Also, Hallam adds, “Cardiovate has
been incubated in UTSA’s New Venture Incubator and received an initial $50,000 investment from the UT Horizon Fund, all key actions leading to the hiring of a seasoned CEO and management team that will propel the technology and company forward.”
The new CEO of the start-up, Mark Standeford, has more than 27 years in the medical device industry and has developed and comercialized more than 35 new devices. “The ability to help treat and heal the body is the basis for health care,” said Standeford. “The technology developed by Cardiovate will better address the tissue regeneration needs that exist by providing a product that has the benefits of a synthetic with the physiological outcomes of a biologic. Better healing with lower risks and treatment costs are key objectives with these products. This will allow us to develop a portfolio of opportunities that will generate considerable value for patients, clinicians and for the company.”
The company was launched in 2012 after one of its founders, UTSA alumni Jordan Kaufmann, won the University of Texas Horizon Fund Student Investment Competition with $50,000 in seed funding. Both Mauli Agrawal, UTSA vice president for research, and Steven Bailey M.D., division chief for cardiology in the UT Health Science Center San Antonio School of Medicine, supported Kaufmann to get Cardiovate off the ground.