CryoCor

About CryoCor

CryoCor, Inc. operated as a medical technology company, established in 2000 with a focus on developing minimally invasive treatments for cardiac arrhythmias. The company was founded by Gregory M. Ayers, MD, who also served as its initial CEO. In January 2005, Edward F. Brennan, PhD, joined the company as President and COO, and was later promoted to CEO in March 2006 to steer the company toward commercialization.

The core of CryoCor's business was its proprietary cryoablation technology, which uses extreme cold to destroy targeted cardiac tissue responsible for arrhythmias. This technology was embodied in the CryoCor Cardiac Cryoablation System, consisting of a disposable, single-use catheter and a console. The system was designed for use in electrophysiology labs by physicians trained in catheter ablation procedures. The company's business model revolved around the sale of these systems, specifically the disposable catheters, to high-volume ablation centers.

A significant milestone for the company was achieving regulatory approval. The Cryoablation System received approval in Europe in 2002 for treating both atrial fibrillation and atrial flutter, the two most common types of cardiac arrhythmias. In the United States, the path to market involved a more prolonged process with the FDA. After initially receiving a non-approvable letter in early 2006, the company continued to work with the agency. An FDA advisory panel recommended approval for the treatment of atrial flutter in June 2007, leading to pre-market approval (PMA) in August 2007. Following this, CryoCor began commercialization efforts in the U.S.

In June 2007, CryoCor entered into a strategic collaboration with Boston Scientific to co-develop a cryoablation console for use with Boston Scientific's own cryo balloon catheter, aimed at treating atrial fibrillation. This partnership culminated in Boston Scientific announcing a definitive merger agreement in April 2008 to acquire CryoCor for approximately $17.6 million. The acquisition was completed in May 2008, and CryoCor became a wholly-owned subsidiary of Boston Scientific.