ExploraMed

ExploraMed operates as a medical technology incubator, conceptualizing and creating companies to address unmet clinical needs. Founded in 1995 by Dr. Josh Makower, the firm is structured as a series of venture capital funds that identify significant health issues, invent novel device-based solutions, and build businesses around them. Dr. Makower's background merges medicine and engineering, with an MD from NYU School of Medicine, a bachelor's in Mechanical Engineering from MIT, and an MBA from Columbia University. His experience includes founding the Strategic Innovation Group at Pfizer and co-founding the Stanford Byers Center for Biodesign, reflecting a career dedicated to medical device innovation.

The firm's business model is centered on incubation. It starts by identifying a compelling health need from patient and physician perspectives. From there, the team invents and vets potential solutions, proceeding only with those that are technologically sound and can be protected by intellectual property. ExploraMed then forms a new company, providing initial capital, engineering and clinical expertise, legal guidance, and strategic marketing. This process is supported by partnerships with venture firms like New Enterprise Associates (NEA). Revenue and returns are generated through the successful growth and eventual acquisition of these portfolio companies by larger players in the medical technology industry.

ExploraMed has created a portfolio of companies across various medical fields. Notable successes include Acclarent, which developed minimally invasive devices for sinus surgery and was acquired by Johnson & Johnson. Another is NeoTract, which created a device for treating benign prostatic hyperplasia and was acquired by Teleflex. Other portfolio companies include Willow, the creator of a wearable breast pump, and Moximed, which is developing an implant for knee osteoarthritis. This history demonstrates a repeatable process of creating value by developing companies that offer less invasive or more effective treatments for persistent medical problems.

Keywords: medical device incubator, medtech, venture creation, health technology, Josh Makower, Stanford Biodesign, medical innovation, venture capital, patent development, clinical trials, NeoTract, Acclarent, Willow, Moximed, surgical devices, ENT, urology, orthopedics, women's health, strategic financing