Fort Collins medical-device company seeking $59,000 in capital

FORT COLLINS — MyoCardioCare Inc., a medical-device company, has raised $24,550 in an equity offering.

The Fort Collins-based company is seeking about $59,000, according to a Form D filed with the Securities and Exchange Commission on Jan. 5 although the company’s principal shareholders have committed to providing additional funding as well, chairman, CEO and principal shareholder Frank Terrizzi told BizWest.

MyoCardioCare makes an invasive medical device that can be more effective for saving a patient who is having a cardiac arrest.

Terrizzi told BizWest that the current treatments for cardiac arrest — an event where the heart stops completely, unlike a heart attack where the heart functions at a diminished capacity — like CPR or shock paddles, only have about a 20 percent success rate, and even then the patient often experiences significant damage.

MyoCardioCare’s device involves a cup that goes around the heart through a chest incision. The cup is connected to an external drive unit via a tube. The external unit provides power to the heart to help it restart.

Terrizzi said that the process of getting MyoCardioCare’s device in use in hospitals is a long one.

“We’re trying to change the paradigm to improve the outcome percentage,” he said.

The company is currently seeking funding from large government agencies that could help the device go through FDA clinical trials and on to market.

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