September 3, 2025
In a recent episode of Favorable Environments, the USD Discovery District’s podcast dedicated to advancing biotech and life sciences, Tung Nguyen sat down with Fabrice Paublant, CEO of Orixha, a France-based medtech innovator. With over 30 years of experience in pharmaceuticals, consulting, and entrepreneurship, Mr. Paublant shared his journey and Orixha’s mission to transform post-cardiac arrest care through liquid ventilation technology.
A Diverse Career Fueling Innovation
Fabrice Paublant’s career is a testament to the power of diverse experiences in driving innovation. With a background in economics and business, including an MBA from MIT, Mr. Paublant has navigated roles across pharmaceuticals, consulting at Boston Consulting Group, and entrepreneurship. His early career took him to Russia, Ukraine, and Kazakhstan in the 1990s, where he engaged with diverse stakeholders, from primary care physicians to high-level officials. These experiences honed his ability to listen to experts while challenging conventional approaches—a skill he considers critical in the dynamic medtech sector.
“Medtech is much more open and diverse than biotech, with less defined regulatory pathways,” Paublant noted during the podcast. “This breadth of experience is valuable because you need to challenge experts to go faster and with less money.” His global perspective and adaptability have shaped Orixha’s mission to push the boundaries of medical technology, mirroring the USD Discovery District’s goal of fostering innovation through collaboration.
Orixha’s Mission: Revolutionizing Post-Cardiac Arrest Care
Orixha’s flagship technology, a liquid ventilator named Vent2Cool, represents a paradigm shift in treating post-cardiac arrest syndrome (PCAS). Developed over 20 years through academic collaborations with the University of Sherbrooke in Canada and the École Vétérinaire d’Alfort in France, the technology uses a biocompatible, oxygen-rich liquid to ventilate patients, rapidly cooling the body to protect vital organs. “We push just under one liter of breathable liquid into the lungs every 10 seconds, cooling the patient to 32–33°C within 15–20 minutes,” Paublant explained. This rapid induction of therapeutic hypothermia dampens the cytokine cascade that exacerbates organ damage post-cardiac arrest.
The technology’s potential extends beyond PCAS to conditions like acute respiratory distress syndrome (ARDS), where the anti-inflammatory properties of breathable liquids could restore lung function. As Orixha enters clinical trials, Mr. Paublant envisions the technology becoming a global standard in intensive care units by 2030–2031, delivering both clinical and economic value.
Leadership Philosophy: Decisiveness and Collective Intelligence
Paublant’s leadership philosophy emphasizes decisive action and collective intelligence, critical for navigating the complexities of medtech startups. “It’s always better to make a decision, even if it’s the wrong one, than to procrastinate,” he asserted. He advocates for a transparent decision-making process, ensuring team members understand whether decisions are collective or individual. This approach fosters a culture of accountability and adaptability, essential for startups operating at the frontier of science.
Mentorship has also played a pivotal role in Paublant’s career. He credits mentors who helped align Orixha’s founding team, and his own training in business coaching during the COVID years. “Mentorship is a two-way street,” Paublant noted. “You learn as much from mentoring others as you do from being mentored.”
Financial Discipline: Cash is King
For medtech entrepreneurs, Paublant’s advice is clear: “Cash is king.” He warns against the pitfalls of overspending after successful fundraising, citing the risk of rapid cash burn on non-essential hires or consultants. “You might raise $20 million and think you’re set, but 18 months later, you’re wondering where it went,” he cautioned. Instead, he recommends prioritizing investments in critical milestones and building a lean, high-quality team.
Looking Ahead: A Legacy of Impact
Paublant sees Orixha as his final entrepreneurial venture, with a goal to retire in seven years after establishing liquid ventilation as a clinical standard. Beyond PCAS, Orixha is exploring applications for ARDS and other conditions, leveraging the technology’s anti-inflammatory and oxygen-delivery capabilities. “We’re transforming 20 years of research into real clinical value for patients and financial value for shareholders,” Paublant said.
Fabrice Paublant’s journey from global pharmaceutical markets to leading Orixha’s liquid ventilation revolution exemplifies the power of diverse experiences, decisive leadership, and collaborative innovation. As the USD Discovery District continues to build a vibrant biotech ecosystem in Sioux Falls, stories like Paublant’s highlight the potential for transformative technologies to drive economic and societal impact.
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This episode is made possible by South Dakota First Captial. Learn more at southdakotafirst.com.
About this Guest
Fabrice Paublant is the Chief Executive Officer at Orixha.
Orixha, a DeepTech company founded in 2018, emerged from a collaboration between researchers and clinicians at Sherbrooke University, EnvA, and INSERM. Dedicated to revolutionizing critical care, Orixha’s mission is to deliver the transformative benefits of liquid ventilation to patients worldwide. The company’s multidisciplinary team, blending expertise in engineering, pathophysiology, and pharmacology, has developed Vent2Cool—the first liquid ventilator designed for intensive care units. Published in leading scientific journals, their work highlights rapid therapeutic hypothermia and anti-inflammatory benefits, particularly for post-cardiac arrest syndrome and acute respiratory distress.
This episode features a conversation with Mark Carbone. He is a healthcare entrepreneur, inventor, researcher, and is the CEO of PN Medical. Under Mark’s leadership, PN Medical has become a leader in the respiratory therapy and cardiopulmonary fields and has been instrumental in dozens of novel clinical studies conducted with Mayo Clinic, Fighter Pilots, Army Rangers and SEALS, Olympians, and professional athletes.
Max G. Ostermeier (MBA) is the co-founder and General Manager of Implandata Ophthalmic Products GmbH. He brings extensive experience in the commercial development of advanced technologies, building operational capabilities for rapidly growing companies, and creating businesses that attract global acquirers.
As a serial entrepreneur, Max founded and managed Odicrain GmbH, a German medical device start-up that developed a pioneering portable device for the rapid detection of intracranial bleedings, which was acquired by a US-based company in 2007. He also co-founded and served as CEO of Cranium Telemetrics GmbH, a medical technology company specializing in innovative neurosurgical products, which was acquired by a leading US medical device company four years after its founding. Additionally, Max played a key role in establishing a biotech entity for a globally leading fine chemistry company, where he served as General Manager and Vice-President until its acquisition by Sigma Aldrich.
Tom Ulrich is a seasoned engineer and engineering manager with over 30 years of experience, a consultant, an Engineering Fellow at Tandem Diabetes, and an Adjunct Professor of Engineering at Biola University. He is also the author of ‘Leading Engineers,’ a book tailored for engineering managers that melds the wisdom accrued from his extensive career in engineering and management with insightful leadership theories from academia.
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