Medical Microinstruments raises $75M for robotic microsurgery

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Robotic microsurgery firm Medical Microinstruments introduced as we speak that it raised $75 million in a Sequence B financing spherical.

Pisa, Italy–based mostly Medical Microinstruments plans to make use of proceeds from the financing spherical, together with its deliberate U.S. presence, to maneuver into its subsequent stage of progress by way of expanded indications and ongoing commercialization efforts for its Symani microsurgery system.

The corporate designed Symani to handle the challenges of microsurgery with the NanoWrist devices for accessing and suturing small, delicate anatomy, corresponding to veins, arteries, nerves and lymphatic vessels as small as 0.3mm in diameter. It supplies movement scaling and tremor discount to permit exact micro-movements.

Symani acquired CE mark in 2019, and the corporate intends to speed up commercialization within the U.S. and Asia-Pacific, in addition to advance medical analysis by way of an FDA investigational system exemption (IDE) pivotal research.

“This financing spherical, coupled with our dedication to entry the U.S. market and the addition of visionary leaders to our board, is an thrilling second for the surgical robotics area,” Medical Microinstruments CEO Mark Toland mentioned in a information launch. “We’re happy to have bridged the Atlantic with premier U.S. life science buyers, and current European buyers, who share our similar imaginative and prescient of bringing microsurgical robotics to the world.”

Deerfield Administration led the spherical, whereas the corporate acquired participation from new buyers RA Capital Administration and Biostar Capital, in addition to current buyers Andera Companions, Fountain Healthcare Companions, Panakès Companions and Sambatech.

The corporate added Deerfield associate Dr. Andrew ElBardissi and RA Capital Administration principal Tess Cameron to its board of administrators. Moreover, former robotics enterprise growth supervisor for Comau, Arturo Baroncelli, will symbolize the corporate’s founders on the board.

Medical Microinstruments additionally introduced a company redomicile from Italy to the U.S. Its lately opened Middle of Excellence facility in Pisa, with 96 staff, will proceed to be the hub of its analysis and growth, manufacturing and different enterprise actions.

“We’re thrilled so as to add additional depth and expertise to the MMI Board and stay up for working with our new board members to construct the robotic microsurgical area,” Andrew Cleeland, chair of the board, mentioned.

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