We are a
Medical Device accelerator
We are focused on developing innovative solutions to serve large unmet clinical needs.
NuXcel is a global medical device accelerator focused on developing innovative solutions to serve large unmet clinical needs. Mudit K. Jain, PhD., Founder and General Partner of Treo Ventures, and previously with Synergy Life Science Partners, and Lynn Elliott, a serial entrepreneur and seasoned medical device leader, previously with Spinal Modulation and Guidant/Boston Scientific established NuXcel in 2018. The founders of NuXcel have played an important role in several high profile medical device companies over the last three decades. NuXcel has successfully spun off two promising new start-ups in neuromodulation since our founding and raised $68M in Series A financings for these two companies from some of the most reputable venture capital funds.
Our core strength lies in electrically active, smart devices that can sense and treat multiple acute and chronic conditions.
Lean Innovation Model
NuXcel is based on a lean innovation model and works with trusted partners across the medical device ecosystem leveraging nearly 50 years of cumulative relationships in that ecosystem.
With locations in Ireland, Minneapolis, and Silicon Valley, we are truly global in our reach and approach.
Meet the Team
NuXcel is led by medical device veterans who have brought multiple novel medical technologies to the market and helped create world class companies.
Mudit K. Jain
Founder and CEO
Mudit is a Founding General Partner of Treo Ventures, and the co-founder and CEO of NuXcel. Mudit has over two decades of medical device industry experience as an entrepreneur and venture capitalist and served on several public and private company boards. His entrepreneurial experiences span company formation, R&D, business development, and venture capital, and he brings a global perspective on healthcare based on his experiences in USA, Ireland, and India. In addition to his private venture capital experiences at Treo, and Synergy Life Science Partners, Mudit also brings a strategic investment perspective based on his tenure at Johnson and Johnson Development Corporation.
Mudit has served on the boards of several private and public medical device companies, from early to commercial growth stage, resulting in successful IPOs and M&A transactions. Mudit currently serves on the boards of CVRx, (NSDQ: CVRX), Avivomed, Inc., Neuspera, Inc., ShiraTronics, Inc., Neochord, Inc., NuXcel, and Noctrix, Inc. Some of his prior investments/board responsibilities include Inspire Medical Systems (NYSE: INSP), Irhythm Technologies (NSDQ:IRTC), Aptus Endosystems (Acqd. by Medtronic), CardioMEMS (Acqd. by St. Jude Medical), and Impres Medical (Acqd. by J&J).
In addition, Mudit also serves on the Board of Visitors of the Graduate School at Duke University, External Advisory Board of John Hopkins University Center for Bioengineering Innovation and Design, and on the Board of One Heart Health, a healthcare non-profit, focused on providing healthcare access to pediatric populations in underprivileged geographies.
Prior to his investing career, Mudit held operational roles in the Cardiac Rhythm Management Division of Guidant Corporation, and played a key role in developing novel device technologies for heart failure, remote cardiac monitoring, and cardiac ablation. Mudit holds eight issued patents and has authored several peer reviewed publications.
Mudit graduated with a B.E. in Electrical Engineering from REC, Nagpur, India, where he was a gold medal recipient for academic achievements. He received his Ph.D. in Biomedical Engineering from Duke University, and his M.B.A. from the Wharton School, University of Pennsylvania.
Founder and CTO
Lynn brings three decades of active implantable device experience in medical device innovation, R&D, manufacturing, clinical trials, and regulatory approvals to healthcare challenges. Lynn has a unique blend of experience in large medical device companies such as Guidant and Boston Scientific and small venture capital funded startups like Spinal Modulation, SacraMed, and ShiraTronics.
At Spinal Modulation, Lynn held the position of Chief Technology Officer and was a key driver of defining and delivering an innovative neurostimulation device for the management of chronic pain. Spinal Modulation was acquired by St Jude (Abbott) in a deal valued in excess of $500M.
Lynn holds over 20 US patents and has published numerous articles in
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Representative companies we have been involved with
What we look for
Our selection criteria for projects is based on following filters:
Large unmet clinical need with motivated patient group seeking therapy
Strong proof of concept of underlying therapy
Existing or emerging reimbursement
Capital efficient development plan with lean innovation drivers as a value builder for all stakeholders
Strong and domain experienced team
ShiraTronics is the first