The company’s casts and splints are billed as being waterproof, adjustable and X-ray friendly. That’s helped the Arden Hills, Minn.-based start-up’s products gain favor with prominent athletes such as Cincinnati Bengals quarterback Carson Palmer, gold medal-winning downhill skier Lindsey Vonn and former University of Cincinnati quarterback Tony Pike.
Exos’ products include thumb and forearm splints, and wrist and arm braces.
Exos, a joint venture with Enova Medical Technologies of St. Paul. and Product Innovations in Aspen, Colo., developed polymer materials that, when layered with foam, create a lightweight, moldable material that allows doctors to custom-fit each cast and splint to the patient.
The most recent funding round comes from 30 un-named investors. Exos has revenue of less than $1 million, according to the regulatory filing.
CEO Fariborz Boor Boor told Finance and Commerce that Exos would use the funding to further develop its products and grow it sales staff. The nine-employee company currently relies on an indirect sales force to sell its products.
Exos was founded in 2007 and started to generate sales near the middle of last year, Boor Boor said in December 2009. The company was distributing its products to doctors and surgeons in about 20 states at that time. Boor Boor said he hoped to develop casts and splints for the body’s lower extremities like knees and feet, and possibly sell products to the military and veterinaries.