FOR IMMEDIATE RELEASE: 06/28/16 

Press Release

Contact:
ExoStat Medical
Jim Hays, President/CEO
jhays@exostatmedical.com 

ExoStat Medical and Norwegian company SensoCure join forces on an international innovation research and development agreement.

ExoStat Medical, Inc., Prior Lake, Minnesota, and SensoCure, AS, Oslo, Norway, both privately owned companies, today jointly announced that they are collaborating on a Norwegian government sponsored Innovation Research Development (IRD) project for advanced development of medical sensing technology.

The Innovation Norway’s IRD project will build on SensoCure’s important patented conductometric sensor platform that measures partial pressure carbon dioxide (pCO2) at the tissue level. The goal of this extraordinary project is to complete the development of micro-engineered, point of care sensor products capable of continuously measuring blood flow and tissue health and to create the manufacturing capabilities necessary to build millions of the disposable sensor bodies every month. Although working jointly, the two companies have previously introduced FDA approved devices and will introduce separate, non-competing products upon completion of this advanced development.

ExoStat’s MicroTrendTM System is a hands-free, non-invasive sensor that measures pCO2 in the oral mucosal tissue. SensoCure’s IscAlertTM device has numerous uses but primarily focuses on continuous monitoring of blood flow in the organs of the body. The resulting combination of both systemic (MicroTrendTM) and local (IscAlertTM) tissue measurement of blood flow is expected to be hugely important to critical care providers and have global impacts in both saving lives and reducing costs of healthcare.

“We are excited to put our patent portfolios and R&D teams together in this unique venture. Without question, the achievement of our joint goals will be meaningful. Although there are many applications for our non-invasive buccal sensing technology, ExoStat’s largest market could be early detection of tissue hypoperfusion, a precursor to the voracious killer known as sepsis. We are very appreciative of the support provided by Innovation Norway in this collaboration. Even more importantly, we have great respect for the men and women at SenosCure.” Stated Jim Hays, President/CEO of ExoStat Medical.

Trond Herje, CEO of SensoCure, stated “We have worked closely with the ExoStat team for a number of years and this IRD project is the culmination of that positive relationship. Blood flow to tissue is a bedrock vital sign in determining patient health in most medical maladies. Our tiny sensors will prove to be massively important in the future of healthcare. We are excited about our future as we enter in this new phase of product development.”

About ExoStat Medical, Inc.: ExoStat is a privately owned American company located in Prior Lake, Minnesota. ExoStat licensed SensoCure’s patented technology for use in the oral and esophageal mucosal tissue for non-invasive measurement of partial pressure CO2. ExoStat owns a number of patents on both the design and application for measuring this data.

About SensoCure, AS: SensoCure is a privately owned Norwegian company based in Skoppum, Norway. Founded in 2011, SensoCure develops and manufactures proprietary medical sensor systems. SensoCure’s first product is the IscAlertTM, a system designed for early detection of the onset of ischemia by continuously measuring the partial pressure of CO2 in virtually all organs of the body.


FOR IMMEDIATE RELEASE: 01/06/15 

Press Release

Contact:
ExoStat Medical
Jim Hays, President/CEO
jhays@exostatmedical.com 

ExoStat Medical and Norwegian company Sensocure reach long-term technology license agreement

ExoStat Medical, Inc., located in Prior Lake, Minnesota, and Sensocure, AS, Oslo, Norway, both privately owned companies, jointly announced today that they reached agreement on a long-term technology license agreement relating to an electronic sensor that measures partial pressure COs (pCO2) in oral mucosal tissue.  The sensor will constitute an essential component of a new non-invasive device developed to measure tissue hypoperfusion and the possible onset of sepsis.  Sepsis is a medical condition that claims millions of lives each year, represents enormous medical expense, and is presently the 10th most frequent cause of death in the U.S.  The sensor is part of the MicroTrend System and will be owned by ExoStat.

“We are excited to put our patent portfolios and research teams together on this project.  We believe, and years of research prove, that early detection of tissue hypoperfusion will save millions of lives and billions of dollars by detecting the possibility of the onset of sepsis, a malady that can cause massive organ failure”, stated Jim Hays, President/CEO of ExoStat Medical.  “We feel so strongly about our partnership with Sensocure that we invited Stein Ivar Hansen, Ph.D., Chairman of the Sensocure Board to join our Board of Directors.  We were delighted when he accepted.”  Dr. Hansen also serves as Managing Director, of MicroTech Innovation, the company responsible for Norwegian Centers of Expertise, micro-and nanotechnologies.

Trond Herje, CEO of Sensocure stated, “We have worked closely with ExoStat for over a year and have determined that we complement one another nicely.  Our combined teams have vast experience in sensor medical device development. Critical care and emergency care providers need this device and the data it will provide.  We will save many lives through this innovation.”

The resulting measurement from the MicroTrend System will provide data necessary for critical care providers to evaluate for possible tissue hypoperfusion, a response to infection in the body, to excessive dehydration/bleeding or to cardiac failure.  The two companies hold thirteen approved and/or pending patents on both the science of the measurement and technological design on this compact, robust sensor device.  Both ExoStat and Sensocure develop sensors for tissue evaluation and both have FDA approved devices capable of measuring partial pressure CO2 in mucosal tissue.

About ExoStat Medical, Inc.: ExoStat is a privately owned company located in Prior Lake, Minnesota.  The technology incorporated in the MicroTrend System is proprietary to the company.

About Sensocure, AS: Sensocure is a company based in Norway.  Founded in 2011, Sensocure develops and manufactures medical sensor systems. Sensocure has a system called IscAlertTM for early detection of the onset of ischemia by measuring the partial pressure of CO2 in organs. The system is usable for virtually all organs.

New press release in fall 2015 on funding

ExoStat Medical, Inc. announced that the sequential equity funding commitment of $7.8 million was completed in late October, 2015.  Proceeds are earmarked for completion of the novel MicroTrend device that continuously measures tissue hypoperfusion (pCO2) in oral mucosa tissue.

“Our marketing research indicates that an early indicator of tissue wellness could be extremely valuable data to physicians and critical care providers throughout the world.” Said Jim Hays, ExoStat’s CEO/President.  “We are closing in on the finalization of a game changer in the emergency and critical care environments.  This funding provides significant security to this challenging endeavor.”

ExoStat Medical, Inc. is a privately held company based in Prior Lake, Minnesota.  The company has focused on developing a micro sensor and monitoring system that provides early data points to indicate tissue hypoperfusion, a common denominator in most systemic infections including sepsis.