Medrobotics Closes Series E Financing Round

Medrobotics Corp., a surgical products company with core competencies in medical robotics, has closed its $26 Million Series E preferred stock financing. Existing Medrobotics shareholders and undisclosed new investors participated in the most recent round.

According to the company, proceeds will be used for regulatory preparations and submissions and for anticipated commercial launches in Europe and the United States.

The company recently received CE mark for its Flex system. The technology is not yet approved in the United States.

“The Flex system is the first robot-assisted flexible endoscopic platform for use during surgical procedures,” said Samuel Straface, Ph.D., president and CEO of Raynham, Mass.-based Medrobotics. “It extends the capability of surgeons to look and reach around corners and operate in hard-to-reach and confined spaces.”

The Flex system enables minimally invasive surgical procedures where conventional line-of-sight technologies are either not feasible or sub-optimal, company officials noted. Surgeons can navigate the Flex scope around anatomical structures to hard-to-reach locations through a single access site, and then use the onboard high-definition vision system to precisely deploy a range of proprietary and third-party flexible surgical instruments. The uniquely “wristed” 3 millimeter Flex Instruments, which have also received the CE mark, enable the surgeon to further extend his or her reach to important and often challenging areas of the anatomy.

Minimally invasive surgery has demonstrated advantages for patients and providers compared to traditional open procedures, decreasing hospital stays and recovery times. The Flex system was designed to provide a cost-effective, easy-to-use, and efficient robot-assisted surgical platform for hospitals and surgeons seeking to provide minimally nvasive treatment options to more patients.