Medrobotics captures $26M in Series E cash for robotic surgery device

Medrobotics, which makes a robot-assisted endoscopic device, closed on $26 million in Series E money it said will be used to seek FDA approval and to support the product's anticipated launch in Europe and the U.S.

Existing shareholders in the Raynham, MA-based company and "undisclosed new investors" took part in the new round of financing, the company said in a release. According to the SEC, the company raised $21.3 million of a $26 million share offering last September.

Previous investors have included Hercules Technology Growth Capital.

The company's Flex System received a CE mark in March. The device is touted as the first robot-assisted flexible endoscopic platform that, using a single entrance site on the body, allows surgeons to navigate around anatomical features and access hard-to-reach locations.

"It extends the capability of surgeons to reach around corners and operate in hard-to-reach and confined spaces," said Medrobotics CEO Samuel Straface in a statement.

- read the release

Suggested Articles

Takeda teamed up with Enzyre to develop an at-home diagnostic device that will help people with hemophilia determine their own coagulation status.

Foundation Medicine received a diagnostic approval from the FDA for selecting HR+/HER2- breast cancer patients for treatment with Novartis' Piqray.

Akoya Biosciences raised $50 million to help boost its commercialization in research, drug development and clinical testing markets.