10.21.14
Raynham, Mass.-based Medrobotics Corp., a surgical products company with core competencies in medical robotics, has closed a $20 million preferred stock financing in which existing Medrobotics shareholders participated. Proceeds will be used for extending the company’s runway (amount of time it can operate in the red) while pursuing commercial launches in Europe and preparing for U.S. Food and Drug Administration (FDA) clearance and commercialization in the United States and other global markets.
So far this year, Medrobtics has received the CE mark for its Flex system and Flex retractor. The company has also met all applicable FDA requirements to distribute the Flex retractor in the United States.
“The Flex system is the first robot-assisted flexible endoscopic platform for use during surgical procedures,” said President and CEO Samuel Straface, Ph.D. “It extends the capability of surgeons to look and reach around corners and operate in hard-to-reach and confined spaces. The Flex retractor is an innovative surgical retractor designed to facilitate exceptional exposure in advanced transoral surgeries, including robotic and laser microsurgery procedures. The new investment from our shareholders enables the company to continue its operations well into the future while it commercializes first in Europe and then, upon clearance, in other parts of the world.”
The Flex system and Flex retractor are the latest examples of innovative and yet affordable products for minimally invasive surgery from Medrobotics. Minimally invasive surgery has demonstrated advantages for patients and providers compared to traditional open procedures, decreasing hospital stays, costs, and recovery times.
So far this year, Medrobtics has received the CE mark for its Flex system and Flex retractor. The company has also met all applicable FDA requirements to distribute the Flex retractor in the United States.
“The Flex system is the first robot-assisted flexible endoscopic platform for use during surgical procedures,” said President and CEO Samuel Straface, Ph.D. “It extends the capability of surgeons to look and reach around corners and operate in hard-to-reach and confined spaces. The Flex retractor is an innovative surgical retractor designed to facilitate exceptional exposure in advanced transoral surgeries, including robotic and laser microsurgery procedures. The new investment from our shareholders enables the company to continue its operations well into the future while it commercializes first in Europe and then, upon clearance, in other parts of the world.”
The Flex system and Flex retractor are the latest examples of innovative and yet affordable products for minimally invasive surgery from Medrobotics. Minimally invasive surgery has demonstrated advantages for patients and providers compared to traditional open procedures, decreasing hospital stays, costs, and recovery times.