Xenocor, the creator of Saberscope, the world’s first true HD, fog-free, articulating, single-use laparoscope, has just closed a $10 million Series A round of funding, led by GenHenn Venture Fund I, with additional participation from Baranco Investments, Inc., Barvest Ventures, Inc., and Patel Family Investments.
This capital will help Xenocor launch Saberscope in 2023 and continue to execute on its impressive innovation roadmap. To ensure success, Michael J. Hennessy Jr., from GenHenn Capital, has joined the Xenocor board of directors. With this strategic addition, Xenocor is well-positioned to take its groundbreaking medical technology to the next level.
Xenocor is revolutionizing the 35-year-old laparoscopic visualization model to bring better care to patients and caregivers during minimally invasive surgery. With their FDA-cleared Saberscope, they are improving visualization, simplifying workflow, increasing safety, and reducing waste. According to CEO Charles DeCoster IV, Xenocor is laser-focused on this mission.
Xenocor has taken the U.S. market by storm with its cutting-edge technology, scalable platform, and experienced leadership in the medical device industry. With an addressable market of $4.5 billion in the U.S., Xenocor is well-positioned to capture a significant share of this lucrative market.
We are absolutely delighted to be spearheading the Xenocor Series A! With my extensive experience in healthcare leadership, I am confident that Xenocor’s innovative technology and experienced leadership team will revolutionize the future of laparoscopy. Michael J. Hennessy Jr., GenHenn managing partner, is certain that Xenocor will have an immense and positive impact on minimally invasive surgery.
The Time for Single-Use is Now
In a typical hospital day, before the surgeon enters the operating room, staff have already prepared the 35-year-old reusable laparoscope model, ensuring the special light cord setting is in place to avoid any possible OR fires. But 62.5% of the time, the equipment is still not ready and the surgeon must spend time troubleshooting.
During the surgery, the scope often fogs, making it difficult to see through smoke and steam, and near impossible to make out critical anatomy. After the procedure is finished, the devices are wiped down and taken to sterile processing, where staff, who are in short supply nationwide, must thoroughly clean the scopes.
They must also properly route broken equipment through a complex repair and loaner process. Then the scopes that are still working must be transported to the correct place and time, an arduous task in itself.
The Saberscope is the ultimate solution to all of your unmet needs in the operating room. No more frustration when dealing with fog, smoke or steam – the Saberscope allows you to have full visibility of the anatomy at any point, with just a simple wrist movement. And when you’re done, just place it in the Xenocor recycle bin for a quick and easy replacement. Stop wasting time, and get the Saberscope for a streamlined operating experience.
The below images show the remarkable contrast between Saberscope, a revolutionary reusable technology, and the status quo. By showcasing these two concepts side-by-side, we can observe how far we have come in terms of technological advancement and sustainability.
Xenocor is Ramping Capabilities
Following a wave of positive responses from the laparoscopic community, Xenocor is investing in a top-notch sales team to support the surge of facilities implementing the Saberscope. Numerous academic institutions have already placed purchase orders, with more likely to join in due to the efforts of dedicated surgeon champions.
Xenocor is ramping up their manufacturing operations to meet the surging demand and ensure that no customer has to experience any service disruptions. To support this effort, the company has brought in new healthcare systems and additional manufacturing leadership to help drive meaningful scale.
At Xenocor, we strive to provide the highest level of support to our amazing surgeons and administrative staff. We believe that customer experience is paramount and are investing in building our operational capabilities to ensure top-notch service. Our culture puts the customer first, and we are dedicated to providing the best possible experience.
Xenocor is an innovative medical device company that brings groundbreaking technology to the healthcare industry. Their Saberscope system is FDA cleared and designed to help diagnose and treat illnesses in the thoracic and peritoneal cavities, as well as in the female reproductive organs. This cutting-edge system is revolutionizing the way medical professionals treat patients, and bringing healthcare into the future.
About GenHenn Capital
GenHenn Capital is a family office venture fund dedicated to investing in the most cutting-edge technology-driven life sciences companies. We find potential in companies at all stages of their life cycle, from seed-stage to growth-stage and beyond. Our goal is to help these companies reach their potential, empowering them to make the world a better place.