XACTIX, Inc. develops and produces equipment for manufacturing MEMS (micro electromechanical systems). The company’s Xetch®, a xenon difluoride etcher, is capable of producing high-precision, quality MEMS devices.
Verimetra is a spin-off from XACTIX. Verimetra makes “smart” medical devices by embedding small sensors within surgical tools. Utilizing their patented technology, Verimetra produces the Data Knife™—a “smart” scalpel which allows for more exacting surgical procedures, resulting in greater productivity of surgeons. Verimetra is also developing several other cardiac, ocular, and dental MEMS devices. |
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Dr. Ken Gabriel, professor of computer engineering at Carnegie Mellon University, approached Gateways for assistance in attracting Dr. Kyle Lebouitz, from the University of California at Berkley, to Pittsburgh, and in securing funding for XACTIX. Several venture capitalists felt that the research and development activities in the bioMEMS area should be divested from the equipment producing segment; thus, a separate company, Verimetra, was formed. The divestiture gave investors the opportunity to devote their funding solely towards Verimetra and the exciting field of bioMEMS.
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Gateways provided the founder Kyle Lebouitz his initial outside investment, and assisted in polishing his business plan. Gateways has also introduced Verimetra to various funding sources to help finance their growth plans.
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Gateways provided the initial seed capital which helped to recruit top talent from Silicon Valley to Pittsburgh. Kyle Lebouitz became the CEO of XACTIX. Dr. Lebouitz used Gateways’ initial investment to hire Michele Migiuolo, who today is CEO of Verimetra.
Verimetra and XACTIX retain their close partnership and share office space, but as separate companies they can better focus on their respective niches—Verimetra on the development of bioMEMS and other devices, and XACTIX on the development and manufacture of MEMS production equipment.
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