Since October 2023, the startup company Pulxion joined in the 1st Batch of LITEON+ Accelerator Program at the X SITE. Joy (the CEO), Professor Hsiao (the founder) and their team members working at the X SITE one after another. The following highlights the content of this interview.
Dr. Hao-Ming Hsiao is a Professor in the department of mechanical engineering at National Taiwan University since 2009. He is also an entrepreneur and the founder of the Pulxion Medical Technology. Dr. Hsiao received his M.S. and Ph.D. degrees at Northwestern University in 1992 and 1995 respectively. Prior to 2009, he worked in the U.S. medical device and aerospace industries for 12 years. At Abbott Laboratories, he was responsible for developing Abbott’s next-generation products including the most popular brand XIENCE stents widely used today.
Dr. Hsiao's research interests lie in the field of biomedical engineering, focusing on advanced medical devices for cardiovascular and neurovascular Intervention. His recent work is devoted to preventive healthcare using advanced digital technologies for disease diagnosis. Dr. Hsiao has served and chaired major program committees from Taiwan government, including A+ Industrial Innovation R&D Program, Startup Value Creation Program, and Technology Development Program. He is a recipient of National Innovation Award, FutureTech Award, Red Dot Design Award, IDA International Design Award, and X-Pitch Award.
Additionally, Dr. Hsiao is also a violinist and serves as the CEO of Physician’s Chamber Orchestra of Taiwan. He is currently active and performs at National Concert Hall annually.
In September 2023, Joy Chen became Pulxion's CEO, a pivotal moment in her career. With a Pharmacy degree from National Taiwan University and an MBA from Warwick University, Joy's education shaped her into a dynamic leader. Leading Pulxion's transformation, securing funding, and implementing strategic initiatives showcased her nuanced grasp of healthcare and strategic prowess.
As General Manager of Business Development at DKSH Taiwan in 2020, Joy demonstrated versatility in pharmaceuticals and medical devices. Her adeptness at cultivating partnerships and optimizing business processes was apparent. She played a crucial role in propelling the digital patient solution business forward, aligning with the evolving landscape of healthcare technology.
As Director at TOT BIOPHARM LTD from 2016 to 2020, Joy played a pivotal role in project management, business development, investor relations, and fundraising. Her multifaceted skills, coupled with financial acumen, led to a successful 2019 IPO and securing a substantial Series B financing round in 2018.
Joy Chen's career highlights a potent blend of healthcare and business expertise, seamlessly integrating digital solutions into her leadership. Her reputation as a transformative, results-driven executive in the dynamic healthcare and business landscape is reinforced by her adept navigation of both traditional and digital realms.
Hao-Ming Hsiao: I am the founder of Pulxion and also a professor in the Department of Mechanical Engineering at National Taiwan University. I stepped into the medical industry in 2001 when I worked in the cardiovascular division of Abbott Laboratories in the United States. I was involved in the development of advanced medical devices related to cardiovascular intervention, such as catheters and stents. Some of the most popular vascular stents in the market today were designed by our teams during my presence at Abbott. I served at Abbott for nearly eight years, holding the position of Principal Engineer. In 2009, due to family reasons, I decided to return to National Taiwan University and began my teaching and research career in academia. It has been almost 15 years since then.
In 2014, I began to delve into preventive healthcare in hope to save more lives before too late. Back then, many disease diagnosis methods were invasive, involving procedures such as blood tests. At that time, while AI had not yet emerged, the digital technologies have been thriving. My goal was to use digital technologies to predict major diseases such as stroke by analyzing video clips taken by a simple camera. We chose to focus on detecting the carotid arteries because they are the two blood vessels closest to the skin surface. Individuals with carotid artery stenosis exhibit distinct patterns in the pulsation of their blood vessels, which could be visible and captured by cameras.
Hao-Ming Hsiao: From 2014 to 2019, it took approximately five years of research development to gradually solidify this concept. Since 2014, the team has collaborated with National Taiwan University Hospital, led by Chair Hsien-Li Kao from the Division of Cardiology, for clinical validation. In 2019, we applied for the Startup Value Creation Program from the Ministry of Science and Technology. Within one year, we successfully transformed the concept from a laboratory technology to a commercial product. Up till today, we have accumulated approximately one thousand cases for the proof of concept and clinical validation.
Hao-Ming Hsiao: The root of 'Pulxion' comes from 'pulse’, signifying pulsation or heartbeat. The addition of 'xion' involves a transformation of the word, a popular practice in English, particularly in the naming of new drugs or medical devices. In Chinese, the name is derived from the pronunciation. The logo represents a pulse, where longer curves symbolize stronger pulses closer to yourself, while shorter curves represent weaker pulses propagating outwards to a greater distance. This visual representation captures the idea that the pulse gradually weakens as the distance increases.
Hao-Ming Hsiao: During the first five years of the technology development, we faced numerous challenges and setbacks. There were several occasions where students approached me, claiming that the encountered problems seemed insurmountable. Fortunately, we managed to turn the tide around and overcome these obstacles each time, paving the way for success today. For example, during the development phase, we had subjects lie down for the screening, covering their faces with a black box to reduce environmental interference. Although this method achieved high accuracy over 90%, we had to consider user feasibility and convenience when it came to turning it into a product. As a result, we modified the device for seating which brought forth numerous issues. Environmental factors such as lighting, background, and even someone passing by from behind could affect the screening results. These challenges had to be overcome one by one within a short period of time.
In addition, 2021 was a tough year as we were unable to secure funding after the Startup Value Creation Program ended. Facing a significant downturn, 2022 was the most challenging year for Pulxion. We experienced financial constraints, with most staff leaving. Those who chose to stay did so voluntarily, almost without pay, driven solely by passion and the belief that we would succeed one day. One engineer worked without pay for a year and half. During this time, we focused on polishing our technology, successfully integrating AI into the software to embrace the latest technology advances. We also developed new indications, such as detecting heart valve diseases.
After more than a year of financial struggles, I started feeling somewhat disheartened, questioning whether my perseverance was worthwhile. It wasn't until Johnny from Mosaic and Joy joined us that we truly found our angels. They extended helping hands when we needed the most, bringing in the much-needed angel funding.
Joy Chen: I graduated from the Department of Pharmacy at National Taiwan University and have been in the pharmaceutical industry for over twenty years. Never did I imagine that one day I would step into the field of medical devices. After graduating from university, I started my career in an international pharmaceutical company, working my way up from grassroots sales to product management.
In 2009, through a senior’s referring at the National Taiwan University, After working with some MNC pharmaceutical firms, I joined TTY Biopharm Company, the first local company to emphasize developing and branding its own products in Taiwan. My role at that time was similar to working in startups. Initially involved in marketing, I later took on project management when the company decided to develop new products. Subsequently, I engaged in business development (BD) to find external partners. As the company expanded to establish a subsidiary in China, I was responsible for regulatory affairs, international business development, public relations, and investor relations.
Working within the same group allowed me to accumulate diverse work experiences, and I am grateful to my supervisors for taking the risk and providing me with numerous opportunities to venture into new areas. I deeply appreciate the chance to experience and practice an entrepreneurial spirit within a corporate setting. Watching Taiwan's biotechnology industry progress step by step, and accompanying the company on its international journey, we successfully listed the Chinese subsidiary on the Hong Kong Stock Exchange.
Soon after, the Covid-19 pandemic struck, making extensive international travel less feasible. Consequently, I returned to Taiwan and switched tracks to join a globally renowned healthcare logistics company. This experience completed my qualifications across the entire pharmaceutical industry value chain.
Having spent approximately three years in a stable and large foreign organization, I happened to connect with Pulxion through Johnny at Mosaic. After conversing with Professor Hsiao, I found his entrepreneurial philosophy and personal characteristics ignited a passion in me to work together. For me, Pulxion's product and technical potential are limitless. The company only needs strategies to make the product reach to the market more efficiently and to make investors understand and support its development. Fortunately, these are the experiences and capabilities I have accumulated in recent years. Therefore, I joined Pulxion in September 2023. And in October 2023, Pulxion is profoundly honored to have been selected as a distinguished participant in the esteemed LITEON+ X SITE community. The inspiring ambiance, opulent working quarters, and multifaceted support offered therein are indeed invaluable treasures for burgeoning startups.
I am appreciative to be part of this team. While the expedition may encounter occasional challenges, I truly believe that when the right people come together at the right time, things will move in the right direction. The advancements witnessed in Pulxion over the preceding six months substantiate this conviction, instilling in us a resolute confidence in the realization of our envisioned objectives.
Since October 2023, the startup company Pulxion joined in the 1st Batch of LITEON+ Accelerator Program at the X SITE. Joy (the CEO), Professor Hsiao (the founder) and their team members working at the X SITE one after another. The following highlights the content of this interview.
Hao-Ming Hsiao: I am the founder of Pulxion and also a professor in the Department of Mechanical Engineering at National Taiwan University. I stepped into the medical industry in 2001 when I worked in the cardiovascular division of Abbott Laboratories in the United States. I was involved in the development of advanced medical devices related to cardiovascular intervention, such as catheters and stents. Some of the most popular vascular stents in the market today were designed by our teams during my presence at Abbott. I served at Abbott for nearly eight years, holding the position of Principal Engineer. In 2009, due to family reasons, I decided to return to National Taiwan University and began my teaching and research career in academia. It has been almost 15 years since then.
In 2014, I began to delve into preventive healthcare in hope to save more lives before too late. Back then, many disease diagnosis methods were invasive, involving procedures such as blood tests. At that time, while AI had not yet emerged, the digital technologies have been thriving. My goal was to use digital technologies to predict major diseases such as stroke by analyzing video clips taken by a simple camera. We chose to focus on detecting the carotid arteries because they are the two blood vessels closest to the skin surface. Individuals with carotid artery stenosis exhibit distinct patterns in the pulsation of their blood vessels, which could be visible and captured by cameras.
Hao-Ming Hsiao: From 2014 to 2019, it took approximately five years of research development to gradually solidify this concept. Since 2014, the team has collaborated with National Taiwan University Hospital, led by Chair Hsien-Li Kao from the Division of Cardiology, for clinical validation. In 2019, we applied for the Startup Value Creation Program from the Ministry of Science and Technology. Within one year, we successfully transformed the concept from a laboratory technology to a commercial product. Up till today, we have accumulated approximately one thousand cases for the proof of concept and clinical validation.
Hao-Ming Hsiao: The root of 'Pulxion' comes from 'pulse’, signifying pulsation or heartbeat. The addition of 'xion' involves a transformation of the word, a popular practice in English, particularly in the naming of new drugs or medical devices. In Chinese, the name is derived from the pronunciation. The logo represents a pulse, where longer curves symbolize stronger pulses closer to yourself, while shorter curves represent weaker pulses propagating outwards to a greater distance. This visual representation captures the idea that the pulse gradually weakens as the distance increases.
Hao-Ming Hsiao: During the first five years of the technology development, we faced numerous challenges and setbacks. There were several occasions where students approached me, claiming that the encountered problems seemed insurmountable. Fortunately, we managed to turn the tide around and overcome these obstacles each time, paving the way for success today. For example, during the development phase, we had subjects lie down for the screening, covering their faces with a black box to reduce environmental interference. Although this method achieved high accuracy over 90%, we had to consider user feasibility and convenience when it came to turning it into a product. As a result, we modified the device for seating which brought forth numerous issues. Environmental factors such as lighting, background, and even someone passing by from behind could affect the screening results. These challenges had to be overcome one by one within a short period of time.
In addition, 2021 was a tough year as we were unable to secure funding after the Startup Value Creation Program ended. Facing a significant downturn, 2022 was the most challenging year for Pulxion. We experienced financial constraints, with most staff leaving. Those who chose to stay did so voluntarily, almost without pay, driven solely by passion and the belief that we would succeed one day. One engineer worked without pay for a year and half. During this time, we focused on polishing our technology, successfully integrating AI into the software to embrace the latest technology advances. We also developed new indications, such as detecting heart valve diseases.
After more than a year of financial struggles, I started feeling somewhat disheartened, questioning whether my perseverance was worthwhile. It wasn't until Johnny from Mosaic and Joy joined us that we truly found our angels. They extended helping hands when we needed the most, bringing in the much-needed angel funding.
Joy Chen: I graduated from the Department of Pharmacy at National Taiwan University and have been in the pharmaceutical industry for over twenty years. Never did I imagine that one day I would step into the field of medical devices. After graduating from university, I started my career in an international pharmaceutical company, working my way up from grassroots sales to product management.
In 2009, through a senior’s referring at the National Taiwan University, After working with some MNC pharmaceutical firms, I joined TTY Biopharm Company, the first local company to emphasize developing and branding its own products in Taiwan. My role at that time was similar to working in startups. Initially involved in marketing, I later took on project management when the company decided to develop new products. Subsequently, I engaged in business development (BD) to find external partners. As the company expanded to establish a subsidiary in China, I was responsible for regulatory affairs, international business development, public relations, and investor relations.
Working within the same group allowed me to accumulate diverse work experiences, and I am grateful to my supervisors for taking the risk and providing me with numerous opportunities to venture into new areas. I deeply appreciate the chance to experience and practice an entrepreneurial spirit within a corporate setting. Watching Taiwan's biotechnology industry progress step by step, and accompanying the company on its international journey, we successfully listed the Chinese subsidiary on the Hong Kong Stock Exchange.
Soon after, the Covid-19 pandemic struck, making extensive international travel less feasible. Consequently, I returned to Taiwan and switched tracks to join a globally renowned healthcare logistics company. This experience completed my qualifications across the entire pharmaceutical industry value chain.
Having spent approximately three years in a stable and large foreign organization, I happened to connect with Pulxion through Johnny at Mosaic. After conversing with Professor Hsiao, I found his entrepreneurial philosophy and personal characteristics ignited a passion in me to work together. For me, Pulxion's product and technical potential are limitless. The company only needs strategies to make the product reach to the market more efficiently and to make investors understand and support its development. Fortunately, these are the experiences and capabilities I have accumulated in recent years. Therefore, I joined Pulxion in September 2023. And in October 2023, Pulxion is profoundly honored to have been selected as a distinguished participant in the esteemed LITEON+ X SITE community. The inspiring ambiance, opulent working quarters, and multifaceted support offered therein are indeed invaluable treasures for burgeoning startups.
I am appreciative to be part of this team. While the expedition may encounter occasional challenges, I truly believe that when the right people come together at the right time, things will move in the right direction. The advancements witnessed in Pulxion over the preceding six months substantiate this conviction, instilling in us a resolute confidence in the realization of our envisioned objectives.
