Florida-based robotics specialist, MMI, has banked $125m in a Series D funding round, financially fortifying the company as it looks to expand market access and generate further data on its robotic microsurgery system.
With cash in hand from this oversubscribed financing, which was led by BioStar Capital and included contributions from Angelini Venture and S3 Ventures, MMI will target the continued commercial expansion of the Symani Surgical System across both the US and key global markets. The company will also build the infrastructure necessary for the wider-scale implementation of Symani.
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MMI designed Symani to help surgeons perform complex micro- and super microsurgeries safely and effectively – aiding them in making precise movements and reducing operator fatigue during lengthy operations. The system originally gained de novo classification from the US Food and Drug Administration (FDA) for use in soft tissue manipulation, which is where surgeons reconnect vessels to restore blood flow or redirect body fluids during reconstruction or repair.
On top of its commercial efforts, MMI is planning to siphon some of this cash to support research on Symani, with the company investing a share of the newly acquired capital to run clinical trials and secure further data on post-surgery outcomes. This will include placing funds into the ongoing REMIND study (NCT07178210), which is evaluating the Symani system’s potential to perform microsurgical techniques on lymph nodes located in the neck of patients with Alzheimer’s disease and lymphatic abnormalities.
The company tests Symani’s promise in this area as some researchers propose that microsurgery in this context could encourage the clearance of harmful protein aggregates such as amyloid beta and tau from the brain – potentially offering a novel treatment approach to Alzheimer’s disease. The REMIND study’s primary goal, however, is to determine if Symani is safe for use in this procedure and patient population.
According to MMI’s CEO, Mark Toland, the company has already proven there’s a demand for robotic microsurgery, meaning the next step is translating this to scaled uptake. “This investment gives us the ability to expand our reach, accelerate adoption and continue advancing the platform through innovation in areas like energy instruments and digital surgery capabilities,” Toland commented.
To achieve its goals, MMI is teaming up with hospitals to develop microsurgery programmes centred around the role of microsurgery in both cancer and trauma-related reconstructive surgery, as well as lymphatic and nerve repair.
MMI eyes commercial expansion within a market that GlobalData forecasts will see notable growth within the next few years, with analysts predicting that the surgical robotics sector will expand at a compound annual growth rate (CAGR) of 6.3% to a value of $23.6bn in 2035.
