Cardima goes into meltdown after default
This article was originally published in Clinica
Microcatheter maker Cardima has laid off its employees and is urgently seeking funding after it defaulted on a loan, prompting lender Agility Capital to freeze its bank accounts. The Fremont, California firm's interim chief financial officer and secretary Barry Michaels has resigned, leaving chairman and CEO Gabriel Vegh to assume the additional positions.
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