Medical robotics company Medrobotics has secured $25m venture debt investment commitment from Western Technology Investment (WTI).
Medrobotics will use the funds to develop products and applications that will allow surgeons to reach deeper in anatomy in the digestive tract.
The funds will also be used to expand the company’s manufacturing capabilities to meet the increasing demand.
Medrobotics sells the Flex robotic system, which is claimed the world’s first robotic surgical platform with a steerable and shapeable robotic scope.
The system offers Scarfree access to hard-to-reach anatomy in otolaryngology and colorectal procedures. It has been cleared in the US for robot-assisted visualization in general surgical, gynecological and thoracic procedures.
Medrobotics is also pursuing to expand the application of its devices in other areas including transvaginal gynecologic procedures and single port abdominal applications in general surgery, urology and gynecology.
The company the FDA clearance for the system represents its progress in developing transformative products for single-port general, gynecological, thoracic and urological surgeries.
Medrobotics CEO Samuel Straface said: “With this new FDA indication, the use of Medrobotics’ flexible robotic technology extends beyond natural orifices.
“This clearance is a vital step in our commitment to minimize the impact of surgery by offering less invasive procedures through a single incision in the abdomen or thoracic cavity versus the multiple incisions that are currently required.”
Medrobotics claims that the mobility and short learning curve of the Flex Robotic System offers flexibility and efficiency that is not seen in other surgical systems.
Patients who seek care from hospitals with comprehensive robotics programs that include the Flex Robotic System could enjoy the best chance for the least invasive treatment of their condition.
The medical device company headquartered in Raynham, Massachusetts, is privately funded. Its vision is to provide more patients with access to Scarfree surgical options.