UK's Cambridge Medical Robotics Bags $20.3 Million Series A
- Mooreland Maintains Deal Momentum in the Robotics Sector
LONDON, July 18, 2016 /PRNewswire/ -- Mooreland Partners, the leading independent investment bank providing M&A and private capital advisory services to the global technology industry, today announced that it acted as the exclusive financial advisor to Cambridge Medical Robotics (CMR) on its recently completed Series A equity financing from new investors LGT Global Invest, ABB Technology Ventures (ABB) and Cambridge Innovation Capital. This transaction further strengthens Mooreland Partners' position as a leading global M&A and private capital advisor on transatlantic strategic transactions in the Robotics segment.
Headquartered in Cambridge, England, CMR is developing the next-generation universal robotic system for minimal access (or "keyhole") surgery. The company's vision is to make minimal access surgery universally accessible and affordable by expanding the range of procedures that can be performed robotically. The CMR robotic arm and end-of-arm surgical instruments provide significantly enhanced flexibility, mimicking the dexterity of the surgeon's hands. This lifelike sensitivity and usability has been lacking in surgical robotic systems currently on the market.
Following the successful start of clinical cadaveric trials in June 2016, investment proceeds will enable CMR to continue on its path toward becoming a global medical device manufacturer. Specifically, the proceeds will be used to advance development and commercialization of its medical robotic technology, and to expand the team in preparation for regulatory approval.
"As CMR prepares for its next phase of development, the company will benefit enormously from this strong and diverse investor group that includes a leading global player in the robotics field (ABB), and some of the best known institutional investors in Europe," said Victor Garcia, Managing Director at Mooreland.
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