University of Minnesota Spins-Off Medical Device Startup

(National Institute of Neurological Disorders and Stroke)

University of Minnesota has helped launch a startup company based on the research of a professor in the university’s medical school in Minneapolis. The company, XO Thermix Medical, in nearby Wayzata, Minnesota will develop a device that treats chronic venous insufficiency (CVI).

CVI is a condition affecting 2 to 5 percent of Americans, triggered by problems in one or more superficial leg veins that have blood leakage around the valves. That leakage can cause the vein to remain filled with blood, especially when standing. CVI can lead to chronic life-threatening ulcers and infections of the lower extremities. The risk of CVI increases with age and is more prevalent in women.

Erik Cressman, a radiologist and medical school faculty member conducts research on the use of thermochemical ablation to treat various conditions, taking advantage of the heat released by reactions generated by benign substances, often already present in the body. Cressman, who filed a patent for his discoveries, was introduced to Mike Selzer, CEO of XO Thermix Medical, and they discussed the potential of applying the technology to vein tissue and CVI.

The discussions led to the company licensing Cressman’s discoveries to develop a device that would treat CVI with a significant reduction in procedure time, and potentially lower cost and much less patient discomfort than current treatments. The university is an equity partner in XO Thermix Medical, which has applied for a federal Small Business Technology Transfer grant to further develop the product.