Xenocor Inc. today announced a strategic investment by Barvest Ventures Inc., a member company of the Trudell Medical Group, which is an innovator and global leader in respiratory care and medical device development.
Xenocor notes this investment will enable Xenocor to ramp up production and respond to growing demand for the Xenoscope™ — an FDA-approved, single-use, fog-free, portable, high-definition (HD) laparoscopic imaging system.
In addition, George Baran, Chair of the Trudell Medical Group will join the Xenocor board bringing years of market wisdom and insight in the areas of product development, production and global market distribution. Northgate Technologies Inc., a member company of Trudell Medical Group that designs and manufactures urology and minimally invasive surgical equipment, will be working closely with Xenocor to bring additional synergies to the relationship.
“Innovation has been critical for delivering solutions that improve quality of life and create positive economic outcomes. This has been our mission since our inception in 1922,” said George Baran, Chairman of the Trudell Medical Group. “We feel our investment in Xenocor is a continuation of this tradition and see every reason for the Xenoscope to be successfully introduced into many markets around the world.”
The Xenoscope offers both clinical and financial advantages that positively impact surgeons, staff, healthcare facilities and patients. The technological innovations provide vastly improved image quality (HD and fog-free), eliminate cross-contamination, reduce arc patient burn injuries, minimize technical complications and operation room downtimes. The compact, portable design is a single cord plug-and-play unit, which makes it possible for easy integration and usage in multiple locations. There are no large capital expenditures or expensive long-term maintenance contracts so the Xenoscope is readily accessible to markets of varying size.
“Not only is Trudell Medical Group a global leader in its product categories, but they also manufacture adjunct products that compliment our current offerings. This strategic investment alliance is a win-win partnership, which leaves the door open to additional innovation,” said Evan Kelso, CEO of Xenocor. “We feel fortunate to have George Baran on the board and such a commanding ally as we move this product into broader availability.”