Backed by angels and grant funding, EnXray is an early stage company with a novel and proprietary Low Energy X-ray (LEXR) to sterilise high-value therapeutics, such as cancer vaccines and stem cell implants for engineering organs. The company is preparing to launch its first product in Q4 2018.
EnXray’s technology for generating Low Energy X-rays (LEXR) is designed to offer a simple, safe & smart method for customers to sterilise or otherwise modify low volume/high value therapeutic products in commercial or research settings.
Sterilising products on-site and on-demand whilst controlling dosage is particularly attractive to organisations developing novel therapeutics, especially for time & cost-sensitive outcomes. Whilst other methods of radiation are widely used to sterilise products, reliance on 3rd party sterilisation service providers incurs higher costs with increased carbon footprint.
We estimate that the initial target market is in excess of £600 million globally. The wider opportunity may be >£2 billion with new applications and future product developments.
EnXray has raised circa £3.6m to date (equity, loan and grants) including UK & EU grant awards in recognition of the high need for this market innovation. EnXray is now raising capital to support commercialisation of its LEXR technology in late 2018. We have attracted key hires from leading organisations including Medtronic, Rolls Royce and the UK Atomic Energy Authority.
EnXray is gearing up to launch a public awareness campaign through social media and other channels to increase our market profile with potential customers.
Disclosure: The company has a commercial loan.