Quick Take

A milestone for Santa Cruz medtech firm Capstan leads Jessica M. Pasko's weekly survey of local business. She's also got news on downtown development, coming events to put in your calendar and more.

Each week, we’re taking a closer look at the movers and shakers, the growth of industries, and what’s really driving the Santa Cruz County economy. I’ll be spotlighting some of the biggest areas for opportunity, updates on local development and all things underpinning the regional business scene each Wednesday.

Got ideas? Send them my way to news@lookoutlocal.com with “Business News” in the subject line.

Santa Cruz medtech firm completes first heart valve replacements in two patients

Capstan Medical founder Dan Wallace, the Westside medtech startup's chief technology officer, and CEO Maggie Nixon (right).
Capstan Medical founder Dan Wallace, the Westside medtech startup’s chief technology officer, and CEO Maggie Nixon (right). Credit: Capstan Medical

A Santa Cruz-based company hit another milestone in its efforts to transform how certain types of heart valve disease are treated. Capstan Medical’s robotic platform for treating heart valve disease has been successfully used in two patients in a process known as transcatheter mitral valve replacements, in which a faulty heart valve is repaired or replaced without requiring open heart surgery. 

The Westside-headquartered company, founded in 2020, is focused on developing minimally invasive treatments for certain types of heart valve disease, one of the leading causes of death in the U.S. The company’s technology is aimed at improving traditional heart valve repair or replacement surgery, which tends to be highly invasive and can take a long time to recover from.

Last week, the company announced its first two successful in-human mitral valve replacements, which took place at Hospital Clinico Universidad Catolica in Santiago, Chile. 

According to CEO Maggie Nixon, the company will be conducting additional patient trials in the coming months, and it’s in discussion with the U.S. Food and Drug Administration about what’s known as an easy feasibility study. An easy feasibility study involves a small number of participants to determine if a medical device/technology will perform as expected in real-world conditions, and it’s a key step in the process of eventually achieving FDA approval. Nixon said the company is working toward filing for what’s known as FDA premarket approval as soon as 2028.

Last year, the company raised $110 million in funding to support its work. 

ICYMI: The “canyon” is coming: A rapidly developing Front Street provides a glimpse of Santa Cruz’ future

As part of Lookout’s ongoing coverage of the changes in downtown Santa Cruz, Wallace Baine takes a closer look at the construction happening on Front Street. That includes two recently completed apartment buildings, with more on the way. Among the planned projects is River Row, a set of three towers that will contain a total of 175 rental units. Building completion is anticipated in early 2026. Check out Wallace’s full story here.

The view down Cathcart Street to Pacific Avenue and beyond from the under-construction River Row project on Front Street. Credit: Kevin Painchaud / Lookout Santa Cruz

Among other changes nearby, the downtown Santa Cruz farmers market is gearing up for a temporary move this May in preparation for the groundbreaking of the new mixed-use library development on Cedar Street. The farmers market is leaving its longtime home in the parking lot on Cedar between Lincoln and Cathcart streets and will take over the stretch of Cedar Street between Walnut Avenue and Church Street, stretching up partially along Church Street, as Lily Belli reported.

Ch-ch-changes: Openings, closings and other developments

The Silver Spur in Watsonville joins locally owned businesses like Ozzy's Pizzeria, Fruition Brewing and Staff of Life in the East Lake Village Shopping Center.
The Silver Spur in Watsonville joins locally owned businesses like Ozzy’s Pizzeria, Fruition Brewing and Staff of Life in the East Lake Village Shopping Center. Credit: Kevin Painchaud / Lookout Santa Cruz
  • Silver Spur opens second spot on Watsonville: Beloved breakfast joint Silver Spur now has a sister location to its Soquel restaurant. The new Silver Spur in Watsonville’s East Lake Village Shopping Center opened its doors last week. 
  • New executive joins the team at Bay Federal Credit Union: Santa Cruz-headquartered Bay Federal Credit Union hired Mark Ely as the organization’s new senior vice president and chief marketing officer. Ely has almost two decades of experience in marketing for credit unions and other financial services organizations. 
  • Terra Superfoods opens on Pacific Avenue: Terra Superfoods is now open in Suite A of 1010 Pacific Ave., near the corner of Cathcart Street. The store features smoothies, bowls and other dishes made with so-called “superfoods” like acai berries. It’s the second location for owner Jade Vucina, who also runs Terra Superfoods in Monterey. She previously operated a Terra location in the Capitola Mall as well.

Got hires, promotions, or departures to report? Send them to news@lookoutlocal.com with the subject line “Career changes.”

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Looking at the numbers 

Save the date 

  • Thursday, March 13: The Santa Cruz Area Chamber of Commerce will host a women in business lunch at Joby Aviation, 345 Encinal St., Santa Cruz, from 11:00 a.m. to 1:00 p.m. Bonny Simi, Joby’s president of operations, will talk about her work and career. Details and registration here.
  • Wednesday, March 19: The Santa Cruz Area Chamber of Commerce will hold its next business after-hours event with representatives from the San Jose Mineta International Airport and the Santa Cruz Dream Inn. The event takes place from 5 p.m. to 7 p.m. at the Dream Inn, 175 West Cliff Dr. in Santa Cruz. Details and registration here.
  • Wednesday, March 19: The cities of Watsonville and Santa Cruz are co-hosting a job fair for employment in construction, electrical, plumbing, welding, HVAC (heating, ventilation and air conditioning), agriculture and related fields. The event, open to those age 18 and up, will be held from 4 p.m. to 6:30 p.m. in the Watsonville Civic Plaza Community Room, 275 Main St., Watsonville. For details and registration, click here.
  • Friday, March 21: The Santa Cruz Small Business Camp will bring together a day of interactive sessions with local business owners, networking opportunities and a keynote address by Jared Truby of Cat & Cloud Coffee at the Santa Cruz Museum of Art and History. Speaker and session details will be released later this month. Details and registration here.
  • Tuesday, April 1: A ribbon-cutting will be held for West Coast Community Bank, the new name of the merged Santa Cruz County Bank- 1st Capital Bank. The mixer takes place from 5:30 to 7:30 p.m. at the bank’s location at 75 River St. in Santa Cruz. Attendees are asked to register by March 25 here.
  • Thursday, April 3: The Santa Cruz County Chamber of Commerce will hold its annual awards gala at the Cocoanut Grove Ballroom in Santa Cruz from 5:30 p.m. to 9 p.m. Details and registration here. 
  • Thursday, April 10: The Pajaro Valley Chamber of Commerce is hosting a business expo and job fair at the Santa Cruz County Fairgrounds in Watsonville from 4 p.m. to 7 p.m. Register here.

Add your business or networking events to Lookout’s free public calendar, BOLO. Click here to add your event.

Business news worth reading

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Jessica M. Pasko has been writing professionally for almost two decades. She cut her teeth in journalism as a reporter for the Associated Press in her native Albany, New York, where she covered everything...