Exero Medical Secures $12.7 Million Financing and Aims for U.S. Market Launch

Exero Medical Secures $12.7M for U.S. Launch of xBar System

Exero Medical, a bi-national company with operations in both the United States and Israel, has successfully raised $12.7 million in a recent funding round aimed at bolstering its clinical and commercial efforts within the U.S. healthcare market. The funds will support the completion of the FDA pivotal trial for their groundbreaking xBar system and facilitate its entry into the American market.

The financing consists of $10 million in upfront cash and up to $2.7 million in non-dilutive grants, reflecting a robust confidence from new investors such as Longevity Venture Partners, Tech Council Ventures, and Edge Medical Ventures, in addition to ongoing support from existing investors.

The challenge posed by post-operative complications, particularly in gastrointestinal surgery, is significant; mortality rates can soar up to 20% when complications arise. The xBar system, a core focus of Exero Medical, aims to address this urgent need by utilizing sensors placed at the surgery site. These sensors collect vital tissue healing data that assists healthcare providers in early detection of severe complications, ultimately saving lives.

Raissa Hacohen, Managing Partner at Longevity Venture Partners, expressed enthusiasm for the investment, stating, "We are thrilled to lead Exero's latest round as we believe in the potential of innovative medical technology to unlock new health data. This aligns seamlessly with our goal of enhancing efficiency within the healthcare system and improving patient outcomes."

Mark Kolb, Partner at Tech Council Ventures, echoed this sentiment, highlighting that the xBar system could revolutionize post-operative care by providing critical, real-time data that can detect complications early. "This development is not just about technology; it's about reducing healthcare costs and enhancing patient safety, which is at the heart of our support for Exero's growth in the U.S. market," he commented.

In support of Exero's expansion, a new U.S. headquarters has been established at Scitech Scity within the Liberty Science Center in Jersey City, New Jersey. This location will serve as a strategic hub for clinical program initiatives and regulatory clearances leading up to the launch of the xBar system.

About Exero Medical
Exero Medical is dedicated to equipping healthcare providers with actionable data related to post-operative tissue healing, contributing to improved patient outcomes and reduced care costs. The xBar system, developed by the company since its founding in 2018 with backing from the Israeli Innovation Authority and various investment groups, is currently labeled as a Breakthrough Device by the FDA.

Despite its exciting potential, it is important to note that the xBar system is not yet approved for sale in the U.S. and remains limited to investigational use.

The company is keen on revolutionizing how post-operative care is administered in today’s healthcare landscape, and with the infusion of capital, it aims to make significant strides in this crucial area.

This funding achievement marks a pivotal moment for Exero Medical as it gears up for a potential disruption in post-operative monitoring and the future of surgical care.