Virtual Incision Nets Additional $30M in Funding for Mini-Surgical Robot

Virtual Incision, a company developing the world’s first miniaturized robotic-assisted surgery (RAS) system, has been granted a $30 million extension to its previous $46 million Series C financing.
 
The round was led by current investors Bluestem Capital, Endeavour Vision, Baird Capital, cultivate(MD) Capital Funds, and PrairieGold Venture Partners, as well as new investors Arboretum Ventures and InVivium Capital. Virtual Incision also appointed Tom Shehab, MD, managing partner from Arboretum Ventures, as a member of its board, and Amy Kobe, general partner from InVivium Capital, as a board observer.
 
“We’re grateful for our investors—both existing and new—and are excited to build an even stronger medtech syndicate with the additions of Arboretum and InVivium,” John Murphy, president and CEO of Virtual Incision told the press. “This financing, particularly in the current fundraising environment, is a significant affirmation of the promise Virtual Incision offers to both patients and shareholders.”
 
The company’s miniaturized RAS (miniRAS) aims to deliver the capabilities of traditional RAS systems, with a form factor small enough to fit in a surgical tray. The funding follows a series of milestones toward commercial readiness of the its MIRA surgical system. Earlier this year, Virtual Incision completed an IDE study for MIRA’s use in bowel resection.
 
Virtual Incision said it will use the $30 million funding extension to support a gynecologic clinical study planned for 2024. The company also said it will continue developing a smaller iteration of the minibot to allow additional general surgery applications, with a first-in-human clinical study expected next year.
 
In the near term, Virtual Incision will support a collaboration between NASA and the University of Nebraska-Lincoln to lay the foundation for performing telesurgery in space. A modified version of MIRA will board the International Space Station to perform simulated surgical tasks from a microwave-sized locker, a feat made possible by its RAS capabilities in miniaturized form.
 
“We are excited to invest in the Series C extension from our fund, Arboretum Ventures VI ($268 million fund). Consistent with our previous funds, we partner with transformational organizations at the intersection of healthcare and technology to improve patient outcomes,” said Dr. Tom Shehab. “Virtual Incision’s long-standing investor support is a signal of the company’s commitment to doing just that. The company’s recent milestones demonstrate that the momentum of miniRAS is only going to continue to build, and we’re excited to be on board.”