Humans experience physiological deconditioning during space missions, primarily attributable to weightlessness. Some of these adverse consequences include bone loss, muscle atrophy, sensory-motor deconditioning, and cardiovascular alteration, which may lead to orthostatic intolerance when astronauts return to Earth. Artificial gravity could provide a comprehensive countermeasure capable of challenging all the physiological systems at once, particularly if combined with exercise, thereby maintaining overall health during extended exposure to weightlessness. A new Compact Radius Centrifuge (CRC) platform was designed and built on the existing Short Radius Centrifuge (SRC) at the Massachusetts Institute of Technology (MIT). The centrifuge has been constrained to a radius of 1.4 m, the upper radial limit for a centrifuge to fit within an International Space Station (ISS) module without extensive structural alterations. In addition, a cycle ergometer has been added for exercise during centrifugation. The CRC now includes sensors of foot forces, cardiovascular parameters, and leg muscle electromyography. An initial human experiment was conducted on 12 subjects to analyze the effects of different artificial gravity levels (0 g, 1 g, and 1.4 g, measured at the feet) and ergometer exercise intensities (25 W warm-up, 50 W moderate and 100 W vigorous) on the musculoskeletal function as well as motion sickness and comfort. Foot forces were measured during the centrifuge runs, and subjective comfort and motion sickness data were gathered after each session. Preliminary results indicate that ergometer exercise on a centrifuge may be effective in improving musculoskeletal function. The combination is well tolerated and motion sickness is minimal. The MIT CRC is a novel platform for future studies of exercise combined with artificial gravity. This combination may be effective as a countermeasure to space physiological deconditioning.