Virtuoso Surgical, Inc., a Nashville-based medical device company, announced today that its $20 million stock offering has become effective after review by the United States Securities and Exchange Commission and the Financial Industry Regulatory Authority.
Virtuoso Surgical has developed a robotic surgery system that radically improves minimally invasive endoscopic surgery. Virtuoso uses patented technology developed by the Company’s founders at Johns Hopkins University and Vanderbilt University with funding from the National Science Foundation and the National Institutes of Health.
Virtuoso Surgical’s offering is made under SEC Regulation A, Tier 2, which means that any U.S. person can invest in the Company. The offering is for the sale of common stock, and this is the first offering of the Company’s common stock to the public.
“Virtuoso Surgical was founded to make minimally invasive surgery more effective by providing surgeons with dexterous, accurate and cost-effective tools for endoscopic surgery,” stated Robert J. Webster, III, PhD, Co-Founder and President. “We are not aware of any technology that accomplishes the dexterity, precision and force of the Virtuoso Surgical device, at such a small diameter. It enables surgeons to use two hands to perform more accurate interventions deep in the body through endoscopes.”
S. Duke Herrell, III, MD, FACS, Co-Founder, Interim CEO and Chief Medical Officer of Virtuoso Surgical, added, “We are excited about the opportunity to sell our common stock to the public. We expect to complete the design of our system by the end of this year, and to conduct final testing of the system in 2023. The capital that we will raise through this offering of common stock will, we believe, propel our system through final design, testing and FDA approval for sale in the United States.”
Virtuoso Surgical’s team of internationally recognized clinical and engineering experts includes Dr. Webster and Dr. Herrell, along with Richard Hendrick, PhD, Chief Operating Officer. Drs. Webster and Herrell, along with others, co-founded the Vanderbilt Institute for Surgery and Engineering (VISE), and Dr. Hendrick has been the lead engineer for Virtuoso since it began operations in 2017.
The Virtuoso Surgical system has demonstrated feasibility in animal, cadaver and tissue model studies in surgeries for bladder cancer, uterine fibroids (among other intrauterine procedures), enlarged prostate (benign prostatic hyperplasia - BPH), central airway obstruction removal, and endoscopic neurosurgery.
The Virtuoso technology can provide dexterity in any procedures where tools are delivered through rigid endoscopes, including urology, gynecology, neurology, interventional pulmonology, orthopedics, thoracic surgery, ear, nose and throat (ENT) and other sub-specialties.
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About Virtuoso Surgical
Virtuoso Surgical has developed a groundbreaking robotic surgery system that radically improves minimally invasive endoscopic surgery. The Virtuoso Surgical system features a pair of instrument delivery arms made of concentric nitinol tools that mimic a surgeon’s hands to offer unprecedented control and dexterity to a full range of endoscopic applications. The system uses patented technology developed by Virtuoso’s founders at Johns Hopkins University and Vanderbilt University with funding from the National Science Foundation and the National Institutes of Health. For additional information about Virtuoso Surgical and the initial public offering of common stock, visit www.virtuososurgical.net and www.virtuososurgical.net/investors.
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Source: Virtuoso Surgical, Inc.
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