Hexoskin Announces $4.2M Additional Funding Round and Acceleration of Clinical AI Development Platform

August 27, 2024

Montreal, Canada - August 27, 2024: Hexoskin, a Montreal-based digital health and AI company developing medical-grade wearables and algorithms for health monitoring and diagnostics, is very excited to announce today an additional USD $4.2M capital raise to invest in growth, digital biomarkers research, and new AI-based digital diagnostics solutions. Investors include AQC Capital and Anges Quebec (Canada), BDC Capital (Canada), ballas invest (Europe), Deep Divers Ltd (UK), and 19 other US and Canadian private investors.

Pierre-Alexandre Fournier, Hexoskin’s CEO, commented: “Hexoskin’s team has over 15 years of experience in clinical AI development and high-resolution wearable sensors. Our investors understand how our digital platform is uniquely positioned to develop a range of diagnostic tests and digital solutions that can address the needs of large populations in disease areas with large unmet needs, such as cardiac, respiratory and rare diseases.”

Hexoskin's current wearable sensing products (Hexoskin & Astroskin) serve the clinical research, defense, and aerospace markets. Its customers, including CSA, NASA, DOD, Yale Health, Boston Children's Hospital, and hundreds of research teams across the world, have published over 250 scientific papers with Hexoskin data. Hexoskin smart shirts are also used in pharma clinical trials, and its technology has been part of the International Space Station since 2019 to support clinical trials in space.

"We are excited to team up with Hexoskin and its investors to enable its next phase of development globally" said Laurent van Lerberghe, Co-Founder of ballas invest and former Chief Strategy Officer at Sanofi. "We have been impressed by the wealth of expertise accumulated by Hexoskin with trillions of data points, more than a hundred clinical trials, and over 250 peer-reviewed publications. Through novel higher resolution digital measures and digital biomarkers in clinical and real-world settings, Hexoskin is unlocking the possibilities of early disease detection, high quality monitoring, hence improving treatment decisions and patients’ quality of life".

Hexoskin’s software and wearable sensor products are used by clinical research teams around the world to collect digital endpoints in patient populations for a wide range of health conditions: cardiac (arrhythmias, heart rate variability), respiratory (CODP, asthma), cancer, neuro (dementia, epilepsy), rare diseases and pediatric research (Rett syndrome, ME/CFS, Long Covid). 

"This additional equity funding allows us to better serve the scientific and medical communities," added Fournier. "Patients, healthcare providers, and researchers are looking for products that are accurate, validated in diverse populations, and easy to use to collect clinical data in real-world settings. Hexoskin’s solutions accomplish these goals, offering high-quality and reliable tools to improve patient outcomes through research and clinical care. Expanding our investor base from Canada to US and Europe is a clear marker of our global potential."

About Hexoskin

Hexoskin (Carré Technologies Inc.) is a pioneer in continuous, passive remote health monitoring driven by AI. Hexoskin's platform and technology are used by hundreds of institutional partners for research purposes, in studies examining breathing disorders, cardiac and pulmonary diseases, rare diseases, stress, sleep, epilepsy, and other conditions. If you're interested in investing in Hexoskin please consult our investor relations section.

An End-to-End Solution for Clinical Research

Launched in 2023, the company’s new clinical development software platform, Hexoskin OneView, allows research teams to follow cohorts of participants as the complete clinical protocols, monitoring compliance and data quality. The platform is used today to collect data for new clinical AI algorithms for diagnostics and quality of life assessments. The data captured include heart rhythms and ECG, breathing patterns, PPG/SpO2, blood pressure, temperature, activity, and patient-reported outcomes with standardized questionnaires or symptoms reporting.

From Space Medicine to Ivy League Research

Hexoskin's current wearable products (Hexoskin and Astroskin) serve the clinical research, defense, and aerospace markets. Its customers, including NASA, DOD, Yale Health, Boston Children's Hospital, Columbia University, and hundreds of researchers and hospitals, have published over 250 scientific papers with Hexoskin data. Hexoskin smart shirts are used in pharmaceutical clinical trials, and its technology has been part of the International Space Station since 2018.

Mayo Clinic Accelerator Program

Hexoskin has been selected by Mayo Clinic in 2019 for their MedTech accelerator program and is currently implementing remote patient monitoring programs in cardiology and pulmonology with health systems in the US and Canada.

Hexoskin’s Unique Database

Over the past 10 years, Hexoskin has built the largest ambulatory cardio-respiratory database in the world. The database includes hundreds of millions of breathing patterns and billions of cardiac rhythm patterns, in addition to sleep data and annotations specific to many other health conditions, developed with hospitals and research partners in the US, Canada and Europe. The company leverages its proprietary database to develop new AI-based digital diagnostic solutions.

Pediatric Research

Hexoskin is one of few companies that have made available wearable sensing solutions for pediatric research. The Hexoskin Junior biometric shirt is used by research groups to study sleep patterns, respiratory health, and rare diseases in children 3 to 17 years old.