Xenocor

About Xenocor

Xenocor, a medical device company headquartered in Salt Lake City, Utah, was established in 2014 to address critical challenges in minimally invasive surgery. The company's technology originated from the Center for Medical Innovation at the University of Utah. Xenocor operates in the surgical devices market, focusing on providing advanced visualization tools to hospitals, surgery centers, and medical outreach organizations. The business model centers on the sale of a disposable, single-use laparoscope, which contrasts with the high capital expenditure and maintenance costs associated with traditional reusable systems.

The company's flagship product is the Saberscope, a single-use laparoscopic system. A key milestone was receiving FDA clearance for its Xenoscope 5mm articulating laparoscope in April 2020. Subsequently, an enhanced version of the Saberscope, featuring true HD, auto-focus capabilities, and a 90-degree articulating tip, also gained FDA clearance. The Saberscope is designed to be fog-free, a common issue in laparoscopic procedures, and to provide clearer visualization in the presence of smoke and steam. It connects to a compact, reusable video processor, the Xenobox, which can display images on any standard HD monitor, eliminating the need for bulky, expensive laparoscopic towers. This approach aims to reduce procedure times, lower the risk of cross-contamination and biohazards for patients and staff, and simplify workflow complexity.

Xenocor has successfully raised capital to fund its operations and commercialization efforts. The company secured a significant $10 million in a Series A funding round in April 2023, led by GenHenn Venture Fund I. This capital is intended for the commercial launch of the Saberscope and for continued product development. The total addressable market in the U.S. alone is estimated at $4.5 billion. Xenocor's strategy involves displacing the 35-year-old reusable laparoscope model by offering a technologically superior and more cost-effective solution.