Xenocor, a Utah-based medical device company, has raised $10 million in a Series A funding round led by New Jersey-based GenHenn Venture Fund I, with participation from Baranco Investments, Inc., Barvest Ventures, Inc., and Patel Family Investments.
The funds will be utilised for the launch of Xenocor’s flagship product — the Saberscope, and to continue innovating for its customers.
As a part of the funding round, Michael J. Hennessy Jr., GenHenn Capital, will join Xenocor board of directors to assist in the company’s growth.
Xenocor’s Saberscope is the world’s first true HD, fog-free, articulating, single-use laparoscope that has been cleared by the FDA. To simplify it, Saberscope is PxLens for laparoscope.
The current reusable laparoscope model has been in use for 35 years and is the only option for minimally invasive surgeons.
Before the surgeon enters the operating room, the staff has already prepared the equipment, warmed the scopes in a saline bath, and set the light cord to avoid starting an OR fire.
However, the surgeon still has to white balance the scope, and 62.5% of the time, the equipment is still not ready, leading to troubleshooting delays.
During the surgery, the scope often fogs, and it is difficult to see through smoke and steam, making it almost impossible to see around critical anatomy.
Once the procedure is complete, the devices are transported to sterile processing, which is often far from the OR, leading to delays.
“Xenocor is laser-focused on facilitating the evolution of the 35-year-old laparoscopic visualisation model to something that clearly better serves caregivers and patients during minimally invasive surgery,” shared Charles DeCoster IV, CEO of Xenocor. “Our FDA-cleared Saberscope improves visualisation, dramatically diminishes workflow complexity, increases safety, and reduces waste.”
Designs and commercialises medical devices
Xenocor’s Saberscope eliminates fog, sees better through smoke and steam, and can articulate 90 degrees in any direction with a simple wrist movement, allowing the surgeon full visibility to the anatomy they need at any point during the procedure.
The company is set to launch the Saberscope in 2023.
The Saberscope system is FDA-cleared and is intended to be used in diagnostic and therapeutic procedures for endoscopy and endoscopic surgery within the thoracic and peritoneal cavities, including the female reproductive organs.
“We are beyond thrilled to be leading the Xenocor Series A. Based on the deep insights I have gathered during my long career in healthcare leadership, I believe Xenocor will have a transformational impact on minimally invasive surgery,” shared Michael J. Hennessy Jr., GenHenn managing partner. “Their unique technology coupled with their veteran leadership will change the future of laparoscopy forever.”