CincyTech Announces Investment in Xact Medical
Launched by Cincinnati Children’s and Ben Gurion University, Xact
Device Improves Precision of Needle Placement
is pleased to announce investment in Xact
Medical. The company’s Fast Intelligent Needle Delivery (FIND)
system would give clinicians a device to more precisely, quickly and
conveniently place an object such as a needle tip in the body, reducing
uncomfortable and time consuming trial and error.
Based on technology from Cincinnati
Children’s and Ben Gurion University in Israel, the FIND system uses
robotics and ultrasound to guide a needle.
“Cincinnati Children’s is increasingly a source of medical innovation
and Xact Medical is the latest example,” said John Rice, PhD, director
of life sciences at CincyTech and board chair of Xact. “CincyTech is
excited to again partner with Cincinnati Children’s and be on the ground
floor of this promising company.”
Daniel von Allmen, MD, surgeon-in-chief at Cincinnati Children’s, and
Hugo Guterman, PhD, a professor of electrical and computer engineering
at Ben Gurion University developed the technology from idea to prototype.
“The fact that up to a third of central line placement attempts in kids
fail on the first try is unacceptable,” said Daniel von Allmen, MD,
surgeon-in-chief at Cincinnati Children’s, who worked with Ben Gurion
University professor Hugo Guterman, PhD. “This technology can
drastically improve those results and improve outcomes for kids and
Xact Medical will initially focus on central line placements in
pediatric and adult populations, with plans to expand into additional
markets such as biopsy. The company is currently testing its prototype
and working toward FDA approval.
“FIND is bringing practical, affordable, point-of-care robotics to the
patient’s bedside. I believe this technology has significant potential
to improve patient outcomes while reducing costs to the healthcare
system,” said Andrew Cothrel, CEO of Xact Medical. “We are confident
that with the institutional and financial support currently in place,
Xact can meet its short- and mid-term goals as we move toward
Terms of the investment were not disclosed.
FOR PHOTOS AND INFO CONTACT: Peg Rusconi | CincyTech Communications
ABOUT CINCYTECH: CincyTech transforms innovation into high
performing life science and digital companies in Southwest Ohio. Our
team provides advice and capital to entrepreneurs, helps research
institutions commercialize technology through startups, and catalyzes
investment from individuals and institutions into regional companies.
ABOUT XACT MEDICAL: Xact Medical is developing the FIND system to
enhance clinician capabilities to quickly and precisely place an object,
such as a needle tip, into the body. Based on technology from Cincinnati
Children’s Hospital Medical Center and Ben Gurion University in Israel,
FIND is bringing practical, affordable, point of care robotics to the
Peg Rusconi, Communications Director, 617-910-6217