Xenter Inc. has officially launched, positioning itself as the first startup device/data/drug med-tech company. The company is developing wireless solutions for interventional cardiology, interventional radiology and neurointerventional radiology.
The company’s goal is to take the medical devices that have been used most ubiquitously throughout medicine, one by one, and replace them with smart technologies that incorporate such things as software, sensors and signals technologies. These wireless technologies will also produce what Xenter calls Physical Intelligence, which will be stored in new storage systems separate from the electronic health record.
To that end, Salt Lake City-based Xenter is building a digital health platform and secure cloud, leveraging blockchain and other technologies to enable the system. There are also plans for software apps to enable patients to access their information and enable physicians to connect interoperatively with other physicians during procedures.
The power of Physical Intelligence
Physical Intelligence is “very different from artificial intelligence” (AI), Rich Linder, Xenter’s, founder, chairman and CEO, told BioWorld.
As he explained, AI utilizes machine learning, deep learning and other complex algorithms to understand large, disparate data that are typically retrospective and can predict what physicians should do in a particular subset of patients. In contrast, “Physical Intelligence is the actual collection of data from within a system and the reporting of that data to somebody outside of the system in real time that enables clinical decision making and reduction in costs, and increases speed and improves quality.”
By combining AI and the company’s Physical Intelligence, Xenter aims to provide complete solutions for patients and the physicians who treat them.
The company is initially focused on interventional medicine, but plans to expand that to venous access and other areas of medicine.
Its first products will address guidewires and catheters used in interventional medicine. “We expect to be launching, hopefully, by the end of 2022, and we think that we will be able to implement those systems throughout hospitals worldwide later in ’22, potentially the first quarter of ’23,” Linder said.
With its combination of smart devices and data collection, Xenter also sees an opportunity in the drug development space. The company plans to harness large amounts of data in its Physical Intelligence data sets for improved target drug discovery and design, clinical trial strategy, patient recruitment, trial selection site, clinical trial monitoring and overall decision-making.
A new business model
The Xenter platform can be used to enable clinical research – both device and drug – and can be expanded to include additional data sets other than those related to the device intervention. “We can work with patients to collect additional data that would be very relevant in applying AI algorithms to mine for new compounds and new drug development opportunities,” Linder said.
Tying it all together is the digital health.
“We think that the digital health business is the glue that will keep both our device and drug businesses together long-term,” Linder said. “Our devices will produce data and enable large data sets, and that data is used in the pharma business.”
He believes that business model – which is new and enabled by recent technological advancements – will be the “ideal model” in the future.
Linder, a veteran life sciences entrepreneur who, among other endeavors, co-founded Rubicon Medical Corp., which he sold to Boston Scientific Corp. in 2005, said Xenter is “planning to go up against the big boys” in med tech and pharma. On the device side, that includes titans like Boston Scientific Corp, Abbott Laboratories, Royal Philips, Johnson & Johnson and Medtronic plc. On the pharma side, “every big name out there,” he said. “We’re going to do it with new tools and new systems. And instead of me building a technology and selling it to them, I’m now going to compete with them.”
Xenter has been well-funded thus far by private investors. Linder said the company is wrapping up a series A round and will announce the amount in the coming days.
“I founded Xenter to develop and deliver a groundbreaking platform for wireless imaging and physiologic data collection to physicians worldwide using entirely new medical devices and systems, to enable patients to own and monetize their medical information and solve some of the most complex problems associated with medicine and health care,” he said. “The future of medicine lies at the crossroads of regenerative medicine, new data collection techniques to facilitate targeted therapeutic drug development, combination devices that utilize novel therapeutics delivered by new devices and new sensors and signals technologies utilized in hospitals and outpatient care settings.”