Healthcare Firms Line Up Behind Exo’s Vision
July 28, 2021
In many ways Exo is a medical device company, a chip company, a software company and a medtech company all rolled into one. But at its foundation, it is a healthcare company. And having investors deeply embedded in the present and future of healthcare is key to the company’s growth. Fortunately, Exo has some of the leading healthcare venture firms among its supporters. Action Potential Venture Capital (a GlaxoSmithKline venture fund) and OSF Ventures, in particular, are driving innovation to transform healthcare for future generations.
Action Potential Venture Capital, or APVC, is a long-time Exo supporter. Founded by GlaxoSmithKline in 2013, this pioneering venture firm focuses on bioelectronic investments. APVC has been a powerful ally as Exo has grown from a small startup to a pioneering health information and devices company.
To learn more about APVC’s thinking in funding Exo’s Series C round, we caught up with Juan-Pablo Mas and Juan Cueva, Ph.D., both investors at APVC.
On the strength of the Exo team:
“Co-founders Sandeep Akkaraju, Yusuf Haque and Janusz Bryzek, along with talented executives like senior vice president of operations Joe Adam, were destined to make Exo a reality. They each have storied careers, and deep technical expertise developing semiconductor technologies and medical devices. As a group, they founded over a dozen deep-tech startups and successfully navigated them to impressive outcomes — but, most importantly, they have been in lock-step in pursuing the full potential of Exo since the first time APVC met them.”
On advancing from imaging to therapeutics:
“There is growing evidence that non-invasive acoustic energy from portable ultrasound transducers like Exo’s proprietary piezoelectric Micromachined Ultrasonic Transducer (pMUT) can be directed to neural circuits involved in diseased biological processes to treat disease. This is an exciting and brand new segment within the emerging category of bioelectronic medicines and neuromodulation. We believe Exo’s proprietary pMUT technology had the greatest potential to deliver consistent energy deeper in the body, among the various portable alternatives we evaluated in diligence. The trend toward a novel acoustic modality for neuromodulation is potentially enabled and driven by power-efficient, mass-produced, body-worn ultrasound transducers such as Exo’s pMUT technology.”
On the wearable potential of Exo’s technology:
“Importantly, the portable, and power-efficient ultrasound devices created by Exo could one day extend the utility of ultrasound from the expert technicians, currently tethered to cart-based machines in hospitals, to body-worn ultrasound systems tailored for monitoring a wide variety of biometrics and guiding daily therapy while a patient is mobile throughout the normal course of their life.”
On how Exo differentiates itself in the handheld ultrasound field:
“Exo stands out from the competition because of its ambitious vision paired with the superior capabilities of its proprietary pMUT technology, of which the Exo handheld ultrasound device is built on. This first-in-class pMUT technology is a power efficient transducer architecture that delivers high quality images while overcoming the frequency spectrum limitations of bulk piezoelectric crystal-based transducers found in typical cart-based ultrasound systems. In addition, pMUT technology could enable superior depth penetration in a portable format which offers differentiated therapeutic applications using acoustic energy.”
Exo has a distinct vision that healthcare can be made more accessible, more equitable and more affordable by technological innovation. But at its core, Exo is building a healthcare company powered by technology. Partners who play pivotal roles in the future of healthcare are critical supporters as Exo scales within an industry that has its own set of unique requirements.
Whether it be the one-of-kind demands of a hospital setting or the unique privacy requirements of a medical software system, Exo is grateful to have investors who not only back the company financially, but also deepen Exo’s expertise in how the healthcare industry can advance to better serve patients, providers and communities.
This blog contains forward-looking statements regarding Exo’s future expectations, plans and prospects and are based on Exo’s current expectations and speak only as of the date hereof. Exo disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this blog in the event of new information, future developments or otherwise.
The Exo handheld device and related products are not currently available, and their commercialization is prohibited in the United States and other jurisdictions until such time as applicable approval has been obtained.
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