Medical Microinstruments, a robotics firm devoted to enhancing scientific outcomes for sufferers present process microsurgery, says it has raised $75 million in Sequence B financing.
Deerfield Administration led the spherical with participation from new traders, RA Capital Administration and Biostar Capital, in addition to present traders, Andera Companions, Fountain Healthcare Companions, Panakès Companions and Sambatech.
The corporate additionally introduced the addition of three new members to its board of administrators.
As well as, the corporate introduced its company redomicile from Italy to the US. The lately opened Middle of Excellence facility in Pisa, Italy, with 96 staff will proceed to be the hub of the corporate’s analysis and growth, manufacturing, and different enterprise actions.
Proceeds from this financing spherical and the corporate’s deliberate US presence will launch MMI into its subsequent stage of development because it continues its mission to enhance the standard of affected person care by pushing the boundaries of microsurgery.
The corporate seeks to increase indications and help ongoing commercialization efforts for the Symani Surgical System in Europe the place it obtained CE mark in 2019.
MMI additionally intends to speed up plans to commercialize within the US and Asia-Pacific, in addition to advance scientific analysis together with securing an Investigational Machine Exemption (IDE) from the US Meals and Drug Administration to conduct a pivotal research.
The Symani System was developed particularly to handle the challenges of microsurgery and is the one system that gives NanoWrist Devices designed to enhance a surgeon’s potential to entry and suture small, delicate anatomy.
Mark Toland, CEO of MMI, says: “This financing spherical, coupled with our dedication to entry the US market and the addition of visionary leaders to our board, is an thrilling second for the surgical robotics area.
“We’re happy to have bridged the Atlantic with premier US life science traders, and present European traders, who share our identical imaginative and prescient of bringing microsurgical robotics to the world.”
The corporate’s new board members are Andrew ElBardissi, MD, Tess Cameron and Arturo Baroncelli. Dr ElBardissi is a accomplice at Deerfield Administration, with intensive expertise serving as a board member for modern healthcare corporations.
Cameron serves as principal for RA Capital Administration and at the moment sits on the boards of Avilar Therapeutics and Nodexus.
Baroncelli beforehand labored as a robotics enterprise growth supervisor for Comau and can symbolize MMI’s founders on the board.
Andrew Cleeland, chairman of the board for MMI, says: “We’re thrilled so as to add additional depth and expertise to the MMI Board and stay up for working with our new board members to construct the robotic microsurgical area.”
Dr ElBardissi says: “The MMI know-how is likely one of the most important transformational developments in surgical robotics that we have now seen.
“Having the world’s smallest wristed devices opens up the sector of ‘micro’ robotics to a totally new stage of therapy spanning microsurgery for most cancers, trauma, orthopedic, pediatric, and someday, neurosurgery sufferers. Symani would be the way forward for how microsurgery is carried out worldwide.”
Cameron says: “Robotic microsurgery has huge potential to each enhance the usual of look after sufferers and assist surgeons handle procedures that require delicate precision.
“I stay up for supporting MMI and its world-class staff because it begins this thrilling chapter.”
The Symani Surgical System is designed to enhance a surgeon’s potential to restore anatomical buildings resembling veins, arteries, nerves and lymphatic vessels as small as 0.3 mm in diameter. The platform gives movement scaling and tremor discount to permit exact micro-movements.
Its NanoWrist know-how is the world’s smallest wristed instrumentation and is meant to enhance a surgeon’s pure dexterity and vary of movement past the aptitude of the human hand.