Less than $1M later, Washington device startup eyes FDA submission

Talk about an affordable medical device. Cardiac Insight in Washington state is gearing up to seek FDA clearance by year-end for a product designed to monitor patients for atrial fibrillation. And the company, spun out of the University of Washington, used less than $1 million of investor cash to get there, Xconomy reports. If all goes well, the device should hit the market by mid-2013, according to the article. It weighs about a quarter-of-an-ounce and has a flexible circuit board so it can be worn easily. What's more, it's also cheap to produce, at less than $25 per device, the story explains. To boost its chances for success, Cardiac Insight just named co-founder and entrepreneur Brad Harlow as its new acting CEO, who will focus on eventually selling the company. Story