LifeWalker producer ProtoStar closes initial equity-capital round

ProtoStar Inc, the San Diego producer of the LifeWalker Upright medical walker, closed its initial round of equity capital, raised mainly from private San Diego investors. The amount wasn’t disclosed. ProtoStar said it plans a line of equipment for people who need help with walking “as a result of aging, trauma, spine or joint replacement surgery, musculoskeletal, neurological and gait disorders, and obesity.” The company also named James H. Berglund chairman and Selwyn Isakow a director. Berglund is a co-founder of Enterprise Partners Venture Capital. Isakow is founder, chairman and chief executive of Oxford Investment Group Inc.

Press Release

LifeWalker Mobility Products Raises Initial Round of Equity Capital; Adds James H. Berglund as Chairman of the Board and Selwyn Isakow as Board Member

SAN DIEGO, April 26, 2016 /PRNewswire/ — ProtoStar, Inc., dba LifeWalker Mobility Products, developer and manufacturer of the newly introduced LifeWalker™ Upright medical walker, today announced that it has closed its initial round of equity capital raised primarily from San Diego private investors. The Company also announced that it has named James H. Berglund chairman of its board of directors, and Selwyn Isakow as a board member.

James H. Berglund was a co-founder of Enterprise Partners Venture Capital, where he served as the lead on more than thirty portfolio companies. Previously, he served as president and board member of Continuous Curve Contact Lenses, Inc., general manager of the American Optical Contact Lens Division, and interim chief executive officer of SynergEyes, Inc. Mr. Berglund has been a board member of numerous companies, including Everyone Counts, Inc., Captiva Software Corp., XIFIN, Inc. and Accredited Home Lenders Holding Co.  Mr. Berglund earned a Bachelor of Science degree in Economics from the University of Wisconsin and Doctor of Optometry degree from Pacific University. He also was a member of the Counter Intelligence Corps of the U.S. Army.

Selwyn Isakow is founder, chairman and chief executive officer of The Oxford Investment Group, Inc., and serves as chairman of the board of San Diego Private Bank. Mr. Isakow was the founder and chairman of Bloomfield Hills Bancorporation, and previously served as executive vice president of Comerica, Inc., and as a principal of Booz Allen & Hamilton. He has served as a board member of several NYSE companies as well as numerous private companies and non-profit organizations. Mr. Isakow, a qualified Chartered Accountant, received his MBA with distinction from Wharton Business School and his Bachelor of Commerce, Certificate in Accounting and Bachelor of Accounting degrees from University of Witwatersrand, Johannesburg, South Africa.

“Completing our initial raise of equity capital is a significant milestone for LifeWalker, as is the addition of Jim Berglund as chairman of the board and Selwyn Isakow as board member,” stated David Purcell, founder and chief executive o­­­­­fficer. “This capital will enable us to accelerate the launch of the LifeWalker Upright, our next-generation medical walker designed to enable users to stand upright and walk safer, longer and more comfortably than with currently available, less stable walkers.  The addition of our new board members will bring valuable leadership to our company as we continue to pursue our mission of benefiting disabled and elderly patients worldwide with next-generation assistive mobility products.”

In addition to Mr. Purcell, LifeWalker’s current board members include Peter C. Farrell, Ph.D., founder and chairman of the board of ResMed Inc. and board member of Nuvasive, Inc.; Steven R. Garfin, M.D., distinguished professor and chair, UC San Diego Department of Orthopaedic Surgery; Andrew Senyei, M.D., managing director of Enterprise Partners Venture Capital, with more than 25 years of experience in the building of emerging, life science and healthcare companies, and Craig S. Andrews, acting chief operating officer.