Exos Medical Corp. has raised $925,000 in equity to develop its high-tech casts and splints that have been worn by several notable athletes, according to a Securities and Exchange Commission filing.
The company’s casts and splints are billed as being waterproof, adjustable and X-ray friendly. That’s helped the start-up’s products gain favor with prominent athletes such as Cincinnati Bengals quarterback Carson Palmer, gold medal-winning downhill skier Lindsey Vonn and former University of Cincinnati quarterback Tony Pike.
Exos’ products include thumb and forearm splints, and wrist and arm braces.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Exos, a joint venture with Enova Medical Technologies in St. Paul, Minn. and Product Innovations in Aspen, Colo., has developed polymer materials that when layered with foam create a lightweight, moldable material that allows doctors to custom fit each cast and splint to the patient.
The most recent fundraise comes from 30 investors. Exos has revenue of less than $1 million, according to the regulatory filing.
Chief Executive Fariborz Boor Boor told Finance and Commerce that Exos would use the funding to further develop its products and grow it sales staff. The nine-employee company currently relies on an indirect sales force to sell its products.
Exos was founded in 2007, and started to generate sales near the middle of last year, Boor Boor told MedCity News in December. The company was distributing its products to doctors and surgeons in about 20 states at that time. Boor Boor said he hoped to develop casts and splints for the body’s lower extremities like knees and feet, and possibly sell products to the military and veterinaries.
