NEWARK, Calif.--(BUSINESS WIRE)--Openwater today announced the acceleration of its plans to commercialize its hospital-grade technology platform that integrates semiconductor physics, light, and sound to diagnose and treat diseases at the cellular level. The company, founded by brain tumor survivor and former Google X, Meta, and "One Laptop Per Child" executive Mary Lou Jepsen, has secured $100 million in total funding from new and existing investors to advance its mission of making advanced medical care accessible worldwide. New and existing investors include Plum Alley Ventures, Khosla Ventures, BOLD Capital Partners, Esther Dyson, and Peter Gabriel, among others.
Openwater's healthcare platform combines high-resolution infrared imaging, precision-tuned ultrasound, and targeted electromagnetic fields. This integration enables unprecedented visualization, monitoring, and treatment of biological issues. The technology can selectively destroy cancer cells while leaving healthy cells unaffected, similar to how an opera singer's voice can shatter a specific wine glass without disturbing others.
"As a brain tumor survivor, I'm not just developing technology; I'm fighting for my life and the lives of millions like me," said Mary Lou Jepsen, Openwater's founder and Chief Executive Officer. "We've shrunk brain tumors and treated depression using lower intensity sound waves than fetal ultrasounds."
Preclinical and clinical studies have shown promising results, including shrinking glioblastoma tumors in mice and treating severe depression in humans. Collaborations with institutions including UCLA, the University of Arizona, the University of Pennsylvania, and Brown University have validated the technology's potential across multiple medical fields.
Openwater's open-source approach aims to accelerate medical innovation by reducing complex medical device regulatory time and costs. This strategy could cut time to market from 13 years to under 3 years, and from $658 million1,2 to around $10 million. By leveraging consumer electronics manufacturing processes, Openwater is addressing the challenge of making advanced medical capabilities more accessible and affordable globally.
The company's timing is crucial. The convergence of recent advancements in optoelectronics, precision electronics, and resonance-based therapies, coupled with the growing global demand for accessible and effective medical solutions, creates a unique opportunity to transform healthcare. Openwater's platform addresses these needs by potentially alleviating the economic burden on healthcare systems and individuals worldwide.
"Openwater represents a rare confluence of transformative technology, market readiness, and global impact potential," said Deborah Jackson, Founder, Plum Alley Ventures. "By leveraging existing consumer electronics supply chains and an open-source model, Openwater is positioned to scale quickly and cost-effectively. This could dramatically compress the typical timeline for medical innovation, potentially saving millions of lives and billions of dollars in healthcare costs. In a market hungry for affordable, accessible healthcare solutions, Openwater's platform addresses critical needs."
Peter Gabriel, renowned musician, human rights activist, and investor, played a significant role in Openwater's inception. Gabriel encouraged Jepsen to set out on her own and even named the company Openwater. He has been an active investor and close advisor. Openwater is part of his vision of affordable, cutting-edge healthcare for the home.
Jepsen concluded, "The human body is an incredible machine, but like any machine, it needs the right tools for maintenance and repair. With Openwater, we're creating those tools, using the fundamental forces of nature - light and sound - to diagnose and heal at the cellular level. Our goal is nothing less than democratizing advanced healthcare, making it accessible to everyone, everywhere."
About Openwater
Openwater develops medical technology integrating semiconductor physics, light, and sound to diagnose and treat diseases at the cellular level. Founded by Mary Lou Jepsen, Openwater aims to make hospital-grade medical care accessible worldwide. The company's platform combines infrared imaging, ultrasound, and electromagnetic fields. Openwater collaborates with leading institutions to validate its technology and drive healthcare innovation. Using open-source principles and consumer electronics manufacturing, Openwater seeks to reduce medical device development time and costs. For more information, visit www.openwater.cc.
1 Sertkaya A, DeVries R, Jessup A, Beleche T. Estimated Cost of Developing a Therapeutic Complex Medical Device in the US. JAMA Netw Open. 2022;5(9):e2231609. doi:10.1001/jamanetworkopen.2022.31609
2 figure adjusted for inflation
