Exero Medical, a US and Israel based company focused on early detection of post-operative complications using tissue healing data, has secured up to $12.7M in funding to complete its FDA pivotal trial and launch its breakthrough-designated xBar system in the United States.
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The round includes $10M in upfront funding and additional milestone-based warrants, as well as $2.7M in non-dilutive grants.
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This financing includes investments from new investors Longevity Venture Partners, Tech Council Ventures, and Edge Medical Ventures, alongside participation from existing investors.
Mortality rates in patients with severe complications after gastrointestinal surgery can be up to 20% due to challenges in identifying these complications early. The xBar system uses sensors placed at the surgical site to collect data that can assist clinicians in early detection of major, life threatening complications after gastrointestinal surgery.
Raissa Hacohen, Managing Partner at Longevity Venture Partners, comments, “We were thrilled to lead Exero’s latest round as we believe in the potential of innovative medical technology to unlock new health data. We support Exero’s vision of creating efficiency within the healthcare system and improving patient outcomes by adding dimensions of new health data into the existing workflow.”
Mark Kolb, Partner at Tech Council Ventures, adds, “Exero Medical’s breakthrough xBar system has the potential to revolutionize post-operative care by providing critical real-time data to detect complications early—ultimately saving lives and reducing healthcare costs. Tech Council Ventures is proud to support Exero’s growth and expansion into the U.S. market.”
Shai Policker, General Partner at Edge Medical Ventures and Chairman of Exero, shares: “We are excited to welcome new investors in support of Exero’s clinical program, regulatory clearance, and launch of the xBar system. Additionally, Exero’s new US headquarters in Scitech Scity at the Liberty Science Center in Jersey City, NJ, will serve as a vital hub for these important initiatives.”
About Exero Medical
Exero Medical’s mission is to empower health care providers with high-quality, actionable post-operative tissue healing data that can save lives, improve prognosis, and reduce cost of care. The company’s flagship product, the xBar system, has been granted Breakthrough Device Designation by the FDA. Exero Medical was founded in 2018 by MEDX Xelerator, and is backed by the Israeli Innovation Authority, Tech Council Ventures, Longevity Venture Partners, Edge Medical Ventures, Consensus Business Group (CBG), Unorthodox Ventures, and Clalit Health Services – the largest HMO in Israel.
