Medrobotics Closes $20MM Financing To Expand Into General Surgery And Build Next Generation Robot System
RAYNHAM, Mass.--(BUSINESS WIRE)--Medrobotics Corp., a medical products company, today announced closing a $20 Million Preferred Stock financing. Existing Medrobotics shareholders participated in the round. Proceeds will be used to fund the Company’s expansion into new surgical applications, such as single-port general and gynecological surgeries, and to develop its next generation Flex® Robotic System with more fully robotic instrument options.
Medrobotics will continue to pursue scarless ENT, colorectal and gynecological procedures to be performed through natural body orifices with the world’s first and only commercially released steerable and shapeable robotic surgical products. Additionally, the Company will develop the Flex® Robotic System for single port abdominal applications for a variety of difficult to reach procedures in general surgery, urology, and gynecology.
The Flex® Robotic System has been cleared for ENT procedures in the United States and internationally. Last year, Medrobotics became the first robotic company to obtain regulatory clearance for minimally invasive, flexible robotic products for colorectal procedures in Europe and Asia. The Flex® Robotic System is now the first robotic surgical platform offering the ability to access hard to reach anatomy in both otolaryngology and colorectal procedures without the limits imposed by straight rigid instruments.
About Medrobotics
Medrobotics Corporation (www.Medrobotics.com) is a privately funded medical device company headquartered in Raynham, Massachusetts. The Company manufactures and markets the Flex® Robotic System, the world’s first robotic surgical platform with a steerable and shapeable robotic scope. The Flex® Robotic System offers surgeons the unique ability to navigate complex anatomy minimally invasively and operate in hard-to-reach anatomical locations that might otherwise be inaccessible with straight, rigid surgical tools. The Company’s is committed to providing more patients access to advanced, minimally invasive surgery. Medrobotics received FDA clearance for the Flex® Robotic System in July 2015, and the CE mark in March 2014. The System is not yet cleared for colorectal applications in the US.
