Two Mentor Companies Awarded $1M in Grants

Two Mentor companies --- US Endoscopy and VasoStar Inc. --- recently received $1 million each to advance the development of new medical devices to treat cardiac and urological conditions and diseases.

The grants were awarded by the Ohio Third Frontier Commission, which provides funds to support and commercialize products manufactured by companies in the biomedical, medical imaging and sensors industries.

US Endoscopy received a $1 million grant in collaboration with University Hospitals of Cleveland for an advanced urological diagnostic and therapeutic accessories projects. The goal of the project is to expand the company’s expertise in the design and manufacturing of gastrointestinal endoscopes into specialty products for the urological (kidney, bladder, adrenal glands and male reproductive organs) conditions and diseases.

Since 1991, the Mentor company has been designing and manufacturing a wide range of medical devices and accessories that are used by physicians to treat gastrointestinal and urological diseases and disorders.

VasoStar Inc., a subsidiary of Frantz Medical Group of Mentor, was awarded a $1 million grant to develop its vibrating tip guidewire system to treat heart patients with chronic blocked arteries. VasoStar is producing this system in collaboration with Frantz Medical Group, the Cleveland Clinic and Interplex Medical LLC of Milford, Ohio.

VasoStar is working to complete the development of its vibrating tip guidewire system and gather safety data to submit to the U.S. Food and Drug Administration for its review and regulatory approval. The guidewire system will enable cardiologists to break through arteries that are totally blocked with plaque and place stents, tiny wire metal devices. These devices push aside the plaque to restore blood flow to the heart artery.

The company says it medical device could reduce the need for open-heart bypass surgeries, which in turn could cut hospital costs by 50 percent. The company plans to commercially launch its guidewire system in 2013. The market potential for guidewire device is at least $125 million, according to the VasoStar.