US-based medical device company Virtual Incision has secured $20m in a Series B+ financing, led by Bluestem Capital, to advance its miniature surgical robots platform.
Existing investor PrairieGold Venture Partners, along with Genesis Innovation and other affiliated investors have also participated in the financing round.
Virtual Incision intends to use the proceeds from the funding for the regulatory and clinical programs, and commercialisation of its miniaturized in-vivo robotic assistant (MIRA) Surgical Robotic Platform.
Its MIRA is an investigational robot designed to perform minimally invasive surgeries, without the need for a dedicated space or the infrastructure usually required for robotic systems.
The company said that its miniature single incision platform MIRA has complete robotic capabilities, and can easily be moved from room to room due to its less weight, of only two pounds.
MIRA platform is designed for minimally invasive surgeries
According to the company, Colorectal and lower gastrointestinal procedures are rapidly evolving and colectomy is the most standard approach for treating patients with severe conditions. Colectomy is an invasive open surgical procedure, involving a large incision, longer hospital stay and more recovery time.
In addition, minimally invasive colectomies have been proven to eliminate the risk of surgical site infection and other complications, associated with open colectomies.
The company claimed that use of miniaturised robotic surgery would benefit surgeons in performing difficult minimally invasive surgeries, including laparoscopic colectomies, with better outcomes.
Virtual Incision has filed an investigational device exemption (IDE) with the US Food and Drug Administration (FDA) and also plans to initiate a confirmatory clinical study of the MIRA Surgical Robotic Platform, to obtain regulatory approval.
The clinical trial is aimed at evaluating the safety and efficacy of the MIRA platform for colon resection surgeries in patients, across various investigational sites in the US.
Virtual Incision president and CEO John Murphy said: “We designed the MIRA Surgical Robotic Platform with the fundamental understanding that minimally invasive procedures offer tremendous benefits to patients. We believe our portable and affordable abdominal robot has the potential to bring these benefits to many more patients. The planned IDE clinical study of MIRA is the critical next step for the company.”
