University of Minnesota Spins Off Med-Tech Startup XO Thermix Medical

Minneapolis / St. Paul Business Journal - by Katharine Grayson Staff Writer -- The University of Minnesota has spun off a startup company that will develop a medical device for treating a chronic vein condition.

The technology is aimed at helping patients who suffer from chronic venous insufficiency, or CVI. The disease causes blood to pool in leg veins, and can lead to ulcers and infections. CVI affects more than 9 million people in the United States, the university said in a press statement.

The startup, called XO Thermix Medical, is led by Mike Selzer, former CEO of Urologix Inc. Selzer also previously led Medtronic Inc.’s neurostimulation division.

XO Thermix’s technology was developed by Dr. Erik Cressman, a professor and clinician at the university medical school’s radiology department.

The university holds an equity stake in the company.

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