Cogwear, is a brain technology company that improves human health, peace and performance through its comfortable, wearable technology for better brain insights. The company delivers clinical-grade cognitive feedback in real-time, on-the-go through a lightweight headband. With a vision of taking EEG out of the lab and into the real world, Cogwear was co-founded by Michael Platt, PhD, Director of the Wharton Neuroscience Initiative and James S. Riepe University Professor with multiple appointments at the University of Pennsylvania, and Arjun Ramakrishnan, PhD, a former research associate in the Platt Lab in the Department of Neuroscience at Penn Medicine. In 2023, Cogwear unveiled two new brands to support the company’s growth: Cogwear Health and Cogwear Life. Cogwear Health products aim to provide clinical-grade data in medical applications such as Alzheimer’s disease detection, behavioral health, and brain injury monitoring. Using the same core technology, Cogwear Life products have applications in athletics and human performance, neuromarketing, and academic research.  

Exyn Technologies, a pioneer in multi-platform robotic autonomy for complex, GPS-denied environments, was founded by Vijay Kumar, PhD, Dean of the Penn Engineering. 2023 was a year of growth for Exyn, starting with the February announcement of a partnership with Easy Aerial to launch their new flagship airframe, the ExynAero^TM EA6, an ExynAI-specific aerial robot optimized for use across industry verticals. The company successfully closed its Series B round in September, strengthening Exyn’s strategic partnerships with investors C.R. Kennedy & Company and Aero X Ventures. In November, Exyn appointed Brandon Torres Declet as CEO to drive its next phase of growth. He was previously CEO of commercial drone solutions provider AgEagle Aerial Systems Inc. and will focus on expanding the company’s geospatial product offerings to customers worldwide. 

Flobio is a precision diagnostics company focused on rapidly measuring blood function and guiding clinical intervention to reduce preventable complications caused by bleeding abnormalities. Led by CEO, Jerri Ann Thatcher, and founded by Scott Diamond, PhD, Arthur E. Humphrey Professor of Bioengineering at Penn Engineering, FloBio’s diagnostic platform simulates the biological microenvironment of blood clot formation as it occurs in the body. The company’s innovative approach enables highly sensitive assays that identify clotting deficiencies and pharmacological effects in patients. In September, the FDA granted Breakthrough Device Designation to FloBio for its first product, a test to rapidly detect the presence of widely used blood thinners called Direct Oral Anticoagulants (DOACs). 

Hydropore, is a cleantech company co-founded by Eric Detsi, PhD, Associate Professor of Materials Science and Engineering at Penn Engineering, and CEO, Mike Argosh. The company is developing a novel approach to hydrogen production: “hydrogen batteries”, which are capable of converting any water source, including seawater, into clean hydrogen fuel. The proprietary technology being developed by Hydropore offers a more sustainable alternative to traditional, often carbon-intensive methods. Hydropore garnered recognition from key players in the energy sector in 2023 – the company was chosen to join the 2023 Energy Innovation Lab sponsored by Philadelphia Gas Works, the National Science Foundation’s National I-Corps program, and Newlab, a hub for cleantech innovation.    

Mechano-Therapeutics is an innovative biotech company developing a first-in-kind system for enhanced delivery of therapeutics to treat musculoskeletal related conditions such as pain, inflammation, and infection. The company was co-founded by George Dodge, PhD, formerly an Associate Professor in the Department of Orthopaedic Surgery at Penn Medicine, Robert Mauck, PhD, Mary Black Ralston Professor for Education and Research in Orthopaedic Surgery at Penn Medicine, Bhavana Mohanraj, PhD, formerly at Penn Medicine, and Daeyeon Lee, PhD, Russel Pearce and Elizabeth Crimian Heuer Professor of Chemical and Biomolecular Engineering at Penn Engineering. George Dodge now leads the company as CEO and is joined by COO Nick DePhillipo, PhD, MBA. The company’s microcapsule technology leverages the natural mechanical forces of the joint and other musculoskeletal tissues to activate drug release in a targeted and controlled manner. In 2023, Mechano-Therapeutics announced a pre-seed round investment from a California-based private equity group.  

ŌNŌCOR, a company specializing in surgical devices, was co-founded by Matthew J. Gillespie, MD, Director of Cardiac Catheterization Laboratory and Interventional Cardiology, at The Children’s Hospital of Philadelphia, Robert C. Gorman, MD, Emeritus Professor of Surgery at Penn Medicine, and Joseph H. Gorman III, MD, retired Professor of Surgery at Penn Medicine. The company is developing surgical retrieval and remediation technologies for the modern-day catheterization lab. In July, the company announced the signing of an exclusive distribution agreement with B. Braun Interventional Systems (BIS). Under the agreement, BIS will initiate the US commercialization activities for ŌNŌCOR’s ŌNŌ Retrieval Device.

Vasowatch, a maternal health company, was co–founded by Stefanie Modri, MSN, RNC-MNN, C-OB, Clinical Adjunct Professor at Penn Nursing, James Weimer, PhD, Assistant Professor of Computer Science at Vanderbilt University, and Christine Rohan, CEO. The company is committed to transforming obstetrics care with a wearable, connected health product that can predict postpartum hemorrhage risk 2 to 6 hours in advance of birth, and with 10X greater accuracy than survey-based risk assessments. Postpartum hemorrhage is a leading cause of maternal death and complications, and early intervention can save a mother’s life. Vasowatch has achieved notable success throughout the year – the company received a Raynier Seed Fund Grant and was selected for mHUB’s 2023 MedTech Accelerator Cohort, as well as the 2023 Ascend Medtech Accelerator powered by VentureWell and Leap. 

Vetigenics is a clinical-stage biopharmaceutical company advancing targeted antibody therapies for pets. Co-founded by Nicola Mason, BVetMed, PhD, DACVIM, MRCVS, Professor of Medicine & Pathobiology in the Penn School of Veterinary Medicine, Don Siegel, PhD, MD, Professor of Pathology & Laboratory Medicine at Penn Medicine, and Adriann Sax, President and CEO, the company leverages their state-of-the-art phage display platform to rapidly produce entirely canine antibodies or CANIBODIES^TM for therapeutic purposes. In November, Vetigenics announced that the first client-owned canine patient with oral melanoma received the first dose of the company’s anti-CTLA4 monoclonal antibody (VGS-001) in a clinical trial.  

Ventru is a neurosurgical device company founded by neurosurgical residents Rachel Blue, MD, and Michael Spadola, MD, at Penn Medicine, and CEO, Bryan Humbarger. Focused on neurosurgical innovations that improve safety and accessibility for better patient outcomes, the company’s first product, DIVE – Device for Intraventricular Entry, assists surgeons with the safe placement of drains to alleviate intracranial pressure for patients suffering from hydrocephalus. In 2023, Ventru presented to the life sciences ecosystem at the inaugural Philadelphia BioLabs Investor Day and at Life Sciences Future PA. The DIVE technology was also one of the Elite 8 chosen for Penn Health-Tech’s Accelerator program, which focuses on accelerating the life cycle of innovative health technologies created by Penn founders.