Corvida Medical

Corvida Medical, founded in 2008 as J&J Solutions by John Slump and Jared Garfield, developed solutions for the safe handling of hazardous medications. The founders started the company while they were undergraduate students at the University of Iowa's Tippie College of Business. The firm operated in the medical device market, specifically targeting healthcare settings where hazardous drugs, such as chemotherapy, are administered. Its primary clients are oncology and hospital pharmacists, as well as the nurses who administer the treatments.

The company's core product was the Halo® Closed System Transfer Device (CSTD). This device is designed to protect healthcare workers and patients from exposure to dangerous drugs by creating an airtight and leak-proof system. Key features of the Halo system include a design that mechanically prevents environmental contaminants from entering the drug vial and stops drug vapors or droplets from escaping. It aimed for simplicity with fewer components and steps compared to other systems on the market, enhancing user comfort and workflow compatibility. The FDA granted the device an ONB product code classification, confirming it prevents the escape of hazardous drug vapors, the transfer of environmental contaminants, and microbial ingress. The system is also designed to reduce the risk of accidental needlestick injuries.

Corvida Medical was venture-backed and received significant non-dilutive funding, including grants from the National Cancer Institute (NCI), to develop and commercialize the Halo device. In April 2021, the company signed an exclusive U.S. distribution agreement with Fresenius Kabi, a global healthcare company, to market the Halo CSTD. More recently, the Halo device was acquired by CORMED, a provider of medical devices, to expand its own portfolio in the growing CSTD market. PitchBook data indicates that Corvida Medical is now out of business as a standalone entity following these developments.

Keywords: closed system transfer device, CSTD, hazardous drug handling, chemotherapy safety, oncology pharmacy, medical device, Halo CSTD, healthcare worker safety, hazardous drug exposure, ONB product code, Corvida Medical, Fresenius Kabi, CORMED, drug compounding, vial-to-vein, needle-safe, microbial ingress prevention, pharmaceutical safety, cytotoxic drugs, antineoplastic drugs