CMR Surgical to Accelerate Growth With New Funding

CMR Surgical is more financially secure these days, having closed a more than $200 million financing round through a combination of equity and debt capital. The money will help support the company’s ambitious growth plans.

The fundraising was supported by all the company’s existing major supporters as well as a new debt investment from Trinity Capital. CMR plans to specifically use the funds to accelerate the commercial expansion of the Versius Surgical Robotic System worldwide (including a U.S. launch) and to continue advancing surgical robotics innovation and product development.

“Trinity Capital is excited to partner with CMR Surgical at this important juncture. CMR has established itself as a trailblazer in surgical robotics, with Versius already proving its value to surgeons and patients worldwide,” Trinity Capital Life Sciences Managing Director Rob Lake said. “We are confident in CMR’s vision and leadership, and our investment reflects our belief that Versius will continue to drive a new era in minimally invasive surgery. We look forward to supporting CMR as it continues to scale and transform surgical care on a global level.”

Reportedly the world’s second most utilized soft tissue surgical robot, Versius has been used to complete more than 30,000 surgical cases globally in over 30 different countries. The increase in Versius installations has been fueled by increasing adoption of surgical robotics as well as the versatility of CMR’s system.

The Versius Surgical System is a robotically assisted surgical device that helps precisely and accurately control Versius Surgical endoscopic instruments including rigid endoscopes, blunt and sharp endoscopic dissectors, scissors, forceps/pick-ups, needle holders, electrosurgery, and accessories for endoscopic tissue manipulation, including grasping, cutting, blunt and sharp dissection, approximation, ligation, electrosurgery, and suturing. In the United States, the Versius Surgical System is indicated for adult patients ages 22 and older, eligible for soft tissue minimal access surgery, for cholecystectomy.

“CMR is a competitive, well-established company with a product providing clear clinical value. We are now at a pivotal stage, poised to capitalize on significant opportunities for market expansion, including in the U.S., while continuing to penetrate deeper into existing markets,” CMR Surgical CEO Massimiliano Colella said. “I would like to give thanks to our CFO Andre Nel and the team for securing this financing to provide the foundation for realizing our strategic vision of making robotic assisted surgery accessible to all patients who need it whilse accelerating future product development. I would also like to thank our investors for their continued support and look forward to delivering sustainable growth and life-changing solutions to the global healthcare community.“

CMR is actively expanding its clinical footprint with two ongoing clinical trials: a pioneering pediatrics study, which is the world’s first multi-center prospective trial on Versius’ use in pediatric surgery, and a transoral robotic surgery (TORS) trial.

“The recent funding is a strong vote of confidence in the future of surgical robotics and in CMR as a leader within this space,” CMR Surgical Non-Executive Chairman Dan Moore added. “This investment is a significant endorsement of Max and his leadership team and provides them with the resources needed to execute on their strategic plan. We are pleased to have the continued support of our investors as we embark on this next phase of growth.”

“This successful funding round of more than $200 million is a clear vote of confidence in the company, the potential of surgical robotics, and in the U.K.’s life science ecosystem, which continues to produce innovative companies at an impressive rate,” UK Science Minister and Oxford Cambridge Corridor Champion Lord Vallance said. “We will continue to back innovation and companies like CMR Surgical as they realize their global ambitions and support the creation of high-quality jobs in the U.K.”

Armentum Partners acted as CMR’s financial advisor on the debt financing.

Versius fits into virtually any operating room set-up and integrates seamlessly into existing workflows, increasing the likelihood of robotic minimal access surgery (MAS). The product’s small, portable and modular design allows surgeons to use only the number of arms needed for a given procedure.

Biomimicking the human arm, Versius gives surgeons the choice of optimised port placement alongside the dexterity and accuracy of small fully-wristed instruments. With 3D HD vision, easy-to adopt instrument control and a choice of ergonomic working positions, the open surgeon console can potentially reduce stress and fatigue and allows for clear communication with the surgical team. By thinking laparoscopically and operating robotically with Versius, patients, surgeons and healthcare professionals can all benefit from the value that robotic MAS brings.

Versius captures meaningful data with its wider digital ecosystem to support a surgeon’s continuous learning. Through the Versius Connect app, Versius Trainer and CMR clinical registry, Versius unleashes a wealth of insights to ultimately improve surgical care.

CMR Surgical (CMR) is a global medical devices company dedicated to transforming surgery with Versius, a next-generation surgical robot. Headquartered in Cambridge, United Kingdom, CMR works with surgeons, surgical teams and hospital partners to provide a tool to make robotic minimal access surgery universally accessible and affordable. Founded in 2014, CMR Surgical is a private limited company backed by an international shareholder base.