Virtual Incision Gains $45M to Advance MIRA Mini-Surgical Robotics Platform

Virtual Incision Corp., a company pioneering miniaturized laparoscopic surgical robots, raised $46 million in Series C funding. The round of funding was led by Endeavour Vision and Baird Capital, with participation from other returning investors. These funds will support regulatory and clinical programs for the company’s MIRA (miniaturized in vivo robotic assistant) surgical platform.
 
“We are thrilled to have Endeavour Vision and Baird lead this round of financing at this important stage of our company’s growth, along with the continued strong support of our largest shareholder, Bluestem,” John Murphy, Virtual Incision’s president and CEO told the press. “Virtual Incision’s goal is to transform surgery by providing a practical and hassle-free platform that will enable efficient, effective, and affordable access to robotic-assisted technology, regardless of the site of care. We are excited that this funding will support our efforts to advance MIRA, so that more patients can ultimately experience the benefits of minimally invasive surgery.”
 
The company achieved its first surgery using MIRA, a robotically assisted right hemicolectomy performed by Michael A. Jobst, MD at Bryan Medical Center in Lincoln, Neb. It was performed as part of the device’s IDE clinical study, which is currently being conducted at a limited number of U.S. hospitals.
 
“The ability of MIRA to successfully perform colon resection—a challenging procedure in minimally invasive surgery that requires multi-quadrant anatomical access and significant robotic strength—demonstrates the huge potential of the platform,” said Shane Farritor, Ph.D., Virtual Incision’s co-founder and chief technology officer. “This funding milestone represents a step forward in our goal to deliver a miniaturized solution for robot-assisted laparoscopic surgery, regardless of the site of care.”
 
“While the demand for robotically assisted surgery continues to grow because of its clear benefits for patients, there are still challenges that hinder broader adoption, such as high cost, complex set-up, and required space and infrastructure,” said Robert Barmann, Partner, Endeavour Vision. “MIRA is intended to address the limitations associated with current main-frame robotic-assisted surgery systems through its small, mobile design that is streamlined for routine high volume procedures. We look forward to partnering with Virtual Incision to advance this innovative technology.”
 
“MIRA is a space-saving solution designed to help hospitals and ambulatory surgery centers leverage their existing infrastructure to perform surgery efficiently while offering a low total cost of ownership,” said Amy Len Kobe, Principal with Baird Capital. “Consistent with our venture team’s investment goals, the MIRA platform has the ability to improve care for patients, physicians, providers, and payors. And, best of all, it’s unlike any other surgical robotic platform available today.”
 
This round’s funding will also support research and development. MIRA’s initial design was for colon resection, but the company began developing a family of mini-robots for hernia repair, gallbladder removal, hysterectomy, and sleeve gastrectomy. Virtual Incision touts an IP portfolio of over 200 patents and applications.