Innovation Kyoto 2016 Investment Limited Partnership ("KYOTO-iCAP No.1 Fund"), with Kyoto University Innovation Capital Corporation ("Kyoto iCAP") (Head office: Sakyo-ku, Kyoto; Representative Director: Koji Murota) as unlimited liability partner, has made an investment in Luxonus Inc. ("Luxonus") (Head office: Minato-ku, Tokyo; Representative Director: Sadakazu Aiso), a venture company that utilizes research results from Kyoto University.

Outline of this investment
Luxonus is a venture company that aims to commercialize a novel imaging device based on photoacoustic imaging technology (Photo Acoustic Imaging = PAI). The company was just established in December 2018, but the research results underlying the company are based on the "Kyoto University-Canon Project" (conducted from FY2006 to FY2015), which is a joint research project between Kyoto University and Canon Inc. (ImPACT) "Creation of New Growth Industries through Innovative Visualization Technology" (implemented from FY2014 to FY2018, with Kyoto University and Keio University participating as joint research organizations).

PAI is a technology that supplements ultrasound waves generated by pulsed light irradiation of a living body with a specially shaped sensor and converts the received data into images using a computer. Compared to existing imaging techniques such as ultrasound, X-ray computed tomography (CT), and nuclear magnetic resonance imaging (MRI), PAI is characterized by its ability to perform real-time 3D imaging with ultra-high resolution (0.2 mm) without exposure or invasiveness (no contrast agent is used). Another advantage of PAI is its ability to measure the oxygen saturation distribution of blood flow.

A prototype PAI device has already been prototyped by ImPACT, and one unit each has been installed at Kyoto University and Keio University. Both universities have so far conducted clinical trials on approximately 250 cases of breast cancer, lymphedema, peripheral arteriovenous disease, skin diseases, and other disorders. Luxonus will work on the development of a mass-produced unit, aiming to launch it as an experimental device in 2021 and as a medical device in 2022.

Kyoto iCAP has invested in a seed round together with Keio Innovation Initiative, Inc. and Japan Medical Devices Development Corporation, in anticipation of the possibility of improving treatment outcomes for diseases for which early diagnosis, preoperative diagnosis, and confirmation of treatment efficacy have been difficult. Ltd. and Japan Medical Devices Development Corporation.

Overview of Luxonus Corporation

Establishment	December 2018
Business	Development of an image capturing device applying photo-ultrasonic technology
Head Office Location	Minato Ward, Tokyo
President & CEO	Sadakazu Aiso

Outline of Keio Innovation Initiative, Inc.

Business	Managed a venture fund (Keio Innovation Initiative No.1 Investment Limited Partnership) for the purpose of investing in venture companies that utilize the results of research at Keio University.
Head Office Location	Minato Ward, Tokyo
President & CEO	Kotaro Yamagishi

Outline of Japan Medical Devices Development Corporation

Business	First incubator in Japan to commercialize medical device products and other products in collaboration with Japanese academia and startup companies
Head Office Location	Chuo-ku, Tokyo
President & CEO	Takehiko Uchida