Xoran Receives Multi-Million Dollar SBIR Grant Funding from the NIH with additional matching funds from external investors, Decathlon Capital Partners
ANN ARBOR, Mich., Oct. 10, 2019 /PRNewswire/ -- Xoran Technologies, LLC has been awarded an $8M matching grant by the National Institutes of Health (NIH) to integrate and commercialize Xoran's mobile CT imaging system xCAT IQ™ with surgical navigation, and to develop a mobile CT imaging solution for spine.
In this prestigious Small Business Innovation Research (SBIR) commercialization grant, the National Cancer Institute under the NIH umbrella is providing Xoran with $4M in research and development funds over three years. The award is matched with an additional $4M investment by private firm, Decathlon Capital Partners.
Xoran is the pioneer and market leader in CBCT
As the pioneer and market leader in medical cone beam computed tomography since 2001, Xoran recently released the xCAT IQ, a compact, mobile CT scanner with high-resolution cranial imaging.
"It has been our dream since the inception of the company to have such a scanner," says Xoran CEO Misha Rakic. "But only in the last three to four years has the technology reached such levels that this became possible."
The xCAT IQ was designed specifically for the operating room and the intensive care unit in hospitals. Because the xCAT IQ is highly maneuverable in tight spaces and easy-to-use, patients can be scanned directly at their point-of-care and would not have to be transported out of surgery or recovery to a remotely located radiology suite for an often-necessary CT scan.
Leveraging xCAT IQ to create an entirely new solution
Minimally invasive neurosurgery1 describes any procedure that is less invasive than open surgery for the same purpose. Such approaches are important for patients, as they can reduce complications and shorten recovery periods.2
These procedures usually involve "visualization assists," such as laparoscopic devices, remote-controlled and robotic-enabled manipulation of surgical instruments, surgical navigation, and intraoperative imaging.
It's the last two items that are of peak current interest to Xoran and are the subject of Xoran's most recent NCI/NIH grant.
"We are grateful to the NCI for supporting our ongoing research and development in this exciting area," says Xoran CTO William van Kampen. "This non-dilutive funding will support scientists and engineers working here in Michigan on technology intended to help make minimally invasive neurosurgery procedures safer and more widely available."
A complete imaging and navigation solution—along with intraoperative CT imaging to enable minimally invasive spine cases, both have the potential to reduce OR time and improve outcomes. The commercialization aspect of the grant is significant; patients may now have improved access to such advanced technologies.
"The benefits to stroke and traumatic brain injury patients cannot be overstated," says Rakic. "Access to a low dose, affordable yet incredibly nimble, imaging system means that patients can be treated more quickly, more accurately, and more comfortably."
And the innovation at Xoran continues. In the future, early stroke detection, both in the emergency room and through telemedicine in rural, suburban, and urban areas—aided by artificial intelligence, may allow for improved outcomes and reduced hospital stays.
© 2019 Xoran Technologies, LLC
About Xoran Technologies
Xoran Technologies, LLC was founded by two research scientists out of the University of Michigan in Ann Arbor, with the goal of developing common sense, innovative technologies that enable physicians and surgeons to treat their patients more efficiently and effectively.
Xoran makes the complex simple.
About National Institutes of Health (NIH)
NIH, the nation's medical research agency, includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. For more information about the NIH and its programs, visit here.
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1 https://www.beaumont.org/treatments/minimally-invasive-neurosurgery?related=treatment
2 https://weillcornellbrainandspine.org/minimally-invasive-neurosurgery
SOURCE Xoran Technologies, LLC
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