LapSpace Medical Gains More Capital Investment

Israeli medical device company LapSpace Medical Ltd., which is developing a balloon retractor for laparoscopic surgery, has completed a new investment round, bringing total investments to $1 million (US). The capital comes from a mix of private investors, medtech company incubator firm Trendlines Medical and the Office of the Chief Scientist of Israel.

The retractor in development is being designed to retract organs such as intestines. Deployed through a trocar and inflated once inside the abdominal cavity, the retractor gently “catches” and retracts the organs to create space and a stable operating field. Features include an attachment to a standard bed clamp, hoped to allow the device to function independently and the surgeon to maintain full control of the operation. Once the procedure is complete, the device is deflated and removed through the entry port. Its ability to be held in place for a long period of time without the need for additional surgical personnel could allow the surgeon to improve efficiency and decrease the operating cost of the surgery.

“During the research and development of the product, we witnessed the efficiency and quality of the results,” said LapSpace Medical CEO Assaf Livne. “We passed pre-clinical trials and achieved the goals set, i.e. dramatically shortening procedures and reducing risk of complications.”

The device was invented by Hien Nguyen, M.D. an assistant professor of surgery and biomedical engineering at the Johns Hopkins University School of Medicine in Baltimore, Md., where he specializes in minimally invasive surgery. The Uuiversity licensed the patent to LapSpace Medical, and Trendlines Medical was chosen as the incubator for the development of the company. Hien Nguyen serves as clinical advisor to the company. Worldwide, over 8 million laparoscopic surgeries are performed annually and increasing continually. The potential market for the LapSpace retractor is estimated at $500 million per year.

LapSpace Medical was granted U.S. Food and Drug Administration clearance earlier this year and plans to begin marketing their product in the United States next year. The company has begun the process for CE mark approval in Europe.