Led by GenHenn Venture Fund I, Xenocor will leverage the capital to facilitate launch and rapid adoption of the 5mm articulating Saberscope
SALT LAKE CITY, April 18, 2023 /PRNewswire/ — Xenocor, creator of the FDA cleared Saberscope, the world’s first true HD, fog-free, articulating, single-use laparoscope, announced a $10 million Series A funding led by GenHenn Venture Fund I with participation from Baranco Investments, Inc., Barvest Ventures, Inc. and Patel Family Investments. Xenocor will use the capital for the 2023 launch of the Saberscope and to continue executing on its robust innovation roadmap. To help accelerate the company’s growth, Michael J. Hennessy Jr., GenHenn Capital will join the Xenocor board of directors.
“Xenocor is laser focused on facilitating the evolution of the 35-year-old laparoscopic visualization model to something that clearly better serves care givers and patients during minimally invasive surgery,” shared Charles DeCoster IV, CEO of Xenocor. “Our FDA cleared Saberscope improves visualization, dramatically diminishes workflow complexity, increases safety and reduces waste.”
With an addressable market of $4.5 billion in the U.S. alone, Xenocor has created the best technology on a scalable platform, hired the right veteran medical device leadership and is following the right strategic course to capture meaningful share of this dynamic market.