With its $58.25 Million Series B Funding, Utah-based Xenter Plans a Diagnostics Business Launch and Continued Work on Advancing AI-Empowered Medical Devices

EXECUTIVE SUMMARY

✅ Draper-based Xenter has raised $58.25 million in Series B funding, apparently the largest Life Sciences disclosed funding by a Utah-headquartered firm so far in 2026.

✅ The company plans to use the capital to commercially launch Xenter Diagnostics, while continuing development of its investigational medical devices and AI-empowered healthcare technologies.

✅ The funding also will support manufacturing expansion plus clinical and regulatory initiatives, although Xenter did not disclose how or where the $58.25 million will be deployed.

24 August 2026 — DRAPER, Utah — Xenter has raised $58.25 million in Series B funding, an amount that appears to be the largest disclosed funding round in 2026 by a Utah-headquartered Life Sciences company.

Based upon Utah Money Watch research, the next three largest Utah-centered Life Sciences funding rounds during 2026 are

🟢 $50 million in growth financing announced in April 2026 by West Jordan, Utah-based Route 92 Medical;

🟢 $40 million in Series C funding announced in April 2026 by Salt Lake City-based Tava Health; plus

🟢 $26 million in Series B funding announced in late July 2026 by Salt Lake City-based Epitel.

But ... back to Xenter ... the Draper, Utah-headquartered company reported that its Series B funding came from existing shareholders, prominent family offices and healthcare investors, none of which were disclosed by Xenter.

Additionally, Xenter did not reveal its current valuation or individual investment amounts.

Launching Diagnostics, Advancing Medical Devices

According to Xenter, the $58.25 million will help finance two related businesses at decidedly different stages.

The first is Xenter Diagnostics, a Xenter business line that offers physicians a cognitive-assessment program combining brain-activity testing with a blood biomarker panel associated with Alzheimer’s disease pathology.

According to Xenter, the offering

🔷 Incorporates a U.S. Food and Drug Administration-cleared cognitive-assessment device,

🔷 Requires no upfront capital equipment, and

🔷 Produces a neurologist-reviewed report.

Rich Linder, CEO, Chairman, and Founder of Xenter, said the Series B will enable the first commercial launch of Xenter Diagnostics.

Beyond diagnostics, Xenter is developing medical devices designed to capture physiological information during diagnostic and therapeutic procedures and transmit those data wirelessly into healthcare-data and AI applications.

The company calls the data “Physical Intelligence” and its broader approach “TechMed.”

To be clear, Xenter says its medical devices are considered investigational, meaning they have not yet received "marketing clearance" from the FDA or any other regulatory body around the world.

That said, its platform is

⚫️ Designed to gather data from connected devices,

⚫️ Transmit the information through its XenFi wireless medical ecosystem (as announced by the firm in 2022), and

⚫️ Make the data available to AI-enabled clinical applications.

Xenter's emerging product portfolio includes Guru, a dual-sensor physiology guidewire being developed for transcatheter aortic valve replacement procedures, as described briefly by Linder in this LinkedIn post.

As noted in its funding announcement, Xenter says that part of the Series B monies will be used to support planned clinical testing of Guru.

"This financing represents more than capital," Linder explained in the company announcement. "... it reflects the confidence our investors have in our long-term vision to fundamentally change how healthcare technologies communicate, generate data, and improve patient outcomes."

Simply put, Xenter is taking a bifurcated business approach, with one portion of the firm prepping for commercial launch, while the the other side of the firm remains centered in

🔺 Product development,

🔺 Clinical testing, and

🔺 Navigating the regulatory process.

Following the $58.25 Million

Xenter says the Series B proceeds will support:

• Commercial launch activities;

• Continued development of proprietary technologies;

• Manufacturing expansion;

• Clinical and regulatory initiatives; and

• Continued advancement of its integrated healthcare platform.

That said, the company did not disclose

🟣 How much will be spent in each area,

🟣 Where the manufacturing expansion will occur,

🟣 How much of the capital will be deployed in Utah, or

🟣 How long the funding is expected to finance operations.

The latest financing is considerably larger than the capital visible through Xenter’s earlier public securities filings.

Specifically, Xenter's two Reg. D filings with the U.S. Securities and Exchange Commission,

▪️ One in January 2023, and

▪️ Another in January 2025,

document nearly $20.7 million in previous securities sales by the company.

But it is not clear if that total represents all of the company’s previous fundings or not.

The Utah Money Angle

What is now clear, however, is that Xenter has raised just shy of $80 million in publicly disclosed fundings since its formal launch in 2020.

That's the immediate money story for Utah, Xenter, and Utah Money Watch readers.

What comes next is deployment.

Xenter now has substantial new capital to commercially launch its diagnostics business while also pushing its work forward on investigational medical devices and AI-empowered technologies.

In this regard, the critical questions for Utah Money Watch readers are:

1. How much money will go toward Xenter's product commercialization versus product development?
2. Where will these new monies be spent?
   and
3. What milestones has Xenter set for itself, on what timelines?

Should be interesting to watch.

DISCLOSURE: Over the past two-plus decades, I have provided public relations and investor relations services to Rubicon Medical, Coherex Medical and Xenter, three companies founded and led by Rich Linder. My most recent engagement ended in November 2022.

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