Cardiost Inc. Awarded $150,000 Advanced Industries Proof of Concept Grant

Cardiost Inc, a medical technology company focusing on developing intellectual property in the cardiovascular field and commercializing medical devices, has been awarded a $150,000 Proof of Concept grant from OEDIT through Denver University.

“Cardiost has had an exhilarating few months. From the OEDIT Advanced Industries award, Denver University’s matching $55,000, the addition of Dr. Pedro R. Moreno, MD from Mount Sinai in New York City as a Scientific Advisor, and the closing of our first investor has put motivation behind our team. We are making steady progress toward our mission of improving the length and quality of life for patients suffering from Heart Failure with preserved Ejection Fraction (HFpEF). We are grateful for Innosphere Ventures invaluable advice, Colorado’s OEDIT, Dr. Ali Azadani at DU, and our attorneys at Dorsey, who have contributed to our success. We look forward to what’s next,” said Nicolas Anzellini, CEO of Cardiost Inc.

“I’m very excited to join the Cardiost team. The growing need for a device to treat HFpEF patients is exerting significant pressure on the US healthcare system and Cardiost is working on a very promising concept. I look forward to contributing to this important goal.” Quote from Dr. Moreno

Cardiost plans to use the funds to design the LAUD (Left Atrium Unloading Device) in alliance with the University of Denver’s Cardiovascular Biomechanics Lab and the Daniel Felix Ritchie School of Engineering and Computer Science. The LAUD is a fully implantable, long-term mechanical circulatory support device to treat late-stage patients suffering from Heart Failure with preserved Ejection Fraction (HFpEF), of which there are 3.1M in the US alone.