CED Life Science Conference 2018 - presenting at the Coulter Investment Forum
Sub-sector: Medical device/diagnostic
Year Founded: 2016
XaTek is a development stage diagnostics company that is commercializing a handheld, portable blood analyzer that is truly a point-of-care diagnostic device. The device will first satisfy the market need for immediate point-of-care diagnosis of coagulability in patients taking a new generation of anticoagulants commonly referred to as Target Specific Oral Anti-Coagulants (TSOACs) which is projected to be $30B drug category by 2020.
The technology, commercially known as ClotChip™, uses an electrical technique called miniaturized dielectric spectroscopy, an approach that the CWRU biomedical engineering team began developing more than six years ago. This technique applies an external electric field to a drop of blood, then quantitatively measures how the blood affects that field. The measurements produced reflect the ability of the blood to clot. This quantitative measurement of coagulability can then be translated into a recognizable measured scale for reporting and health management purposes. The report can be sent to a Wi-Fi/Bluetooth enabled device if so desired. Importantly, ClotChip™ is sensitive to the entire hemostatic process, can discriminate between coagulation and platelet derived defects and can assess whole blood in a single drop by using a disposable test strip format in a handheld portable device.
John Zak MD, MBA – President & CEO/Founder
Serial entrepreneur & venture capitalist, retired surgeon (Cleveland, OH)
Joe Gfoeller – Vice President/Founder
Former Managing Director of 4 private equity funds (NY, NY)
Paul Glass – Founder
Founder of Glass Malek, a multi-family office management firm (Los Angeles, CA)
John Nottingham – co-CIO/Founder
Co-Founder Nottingham Spirk, a 45-year-old top-tier industrial design firm (Cleveland, OH)
John Spirk – co-CIO/Founder
Frank Douglas MD, PhD – independent Director
Senior pharmaceutical executive (Bayer, Pfizer, Novartis) and former Director of Research on the development of Xarelto (New Brunswick, NJ)
KEY MILESTONES TO DATE
- XaTek has proven feasibility of a patented process for measuring coagulability in an emerging class of anti-coagulation drugs for which no point-of-care diagnostic exists. The Company’s ClotChip™ is halfway through a 200-subject pilot clinical trial and anticipates commencement of a multi-center pivotal trial within 23 months.
- Accolades: ClotChip™ received high marks at the 2016 American Society of Hematology & Oncology Conference where it was granted a prestigious press conference presentation and received “Best in Show” honors.
- Funding: Xatek was initially funded by the founders in a seed round and has since received commitments for $2,500,000 of an $8,000,000 series A round that began in 2018. This funding round is projected to take the Company through FDA clearance.
John Zak MD, MBA
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