UK-based surgical technologies developer Alesi Surgical has raised a total of €6m in funding from existing and new investors for commercial expansion of its business, as well as its Ultravision device.
European med tech venture capital companies Panakes Partners and Earlybird contributed to the new investment, alongside existing shareholders IP Group and Finance Wales.
The firm intends to use the latest funds for expansion into international markets such as the US, and for further research and development of its Ultravision technology.
The Ultravision platform is an electrostatic technology designed to eliminate surgical smoke produced by surgical cutting equipment during abdominal keyhole/laparoscopic surgery.
The technology generates a low-energy electrostatic charge and is claimed to improve the visibility for surgeons by actively clearing the smoke.
The system is also capable of reducing the amount of cold, dry carbon dioxide gas required to create a working space inside a patient’s abdomen.
The decrease is said to benefit the patients as excessive exposure to carbon dioxide results in cardiovascular conditions, complications in anaesthesia, post-surgical pain, and longer recovery time.
Currently available in the European and Middle Eastern markets, Ultravision recently obtained approval from the US Food and Drug Administration (FDA) and the Japanese Ministry of Health.
Alesi Surgical managing director Dr Dominic Griffiths said: “Earlybird and Panakes are two highly respected European venture capital companies and, in such a competitive funding environment, their interest in Alesi and Ultravision speaks volumes for our potential.
“With the three new additions to the board, we have expanded our expertise in this market and having four corporate investors places us in a strong position for future growth.”
At the same time, Alesi Surgical appointed new board directors, including former Molnlycke Healthcare president Phil Cooper, Earlybird partner and former Ethicon Endosurgery vice-president Thom Rasche, and Panakes Partners founding partner Alessio Beverina.
Image: Alesi Surgical managing director Dr Dominic Griffiths. Photo: courtesy of Alesi Surgical Limited.