US-based medical device manufacturer Medrobotics has closed a $20m preferred stock financing round, which included participation of its existing shareholders.
The firm intends to utilise the proceeds to upgrade and develop its Flex robotic system with more fully robotic instrument options, as well as to expand its surgical applications such as single-port general and gynecological surgeries.
The Flex robotic system is a robotic surgical platform with a steerable and shapeable robotic scope.
Medrobotics plans to continue performing the scarless ENT, colorectal and gynecological procedures via natural body orifices with steerable and shapeable robotic surgical products.
The Flex robotic system will be further developed for single port abdominal applications in several difficult to reach procedures in general surgery, urology and gynecology.
Cleared for ENT procedures, the robotic system has an articulated multi-linked scope that can be moved along non-linear and circuitous paths, addressing the concerns with traditional, straight scopes.
It allows access to hard to reach anatomy in both otolaryngology and colorectal procedures.
The system features an on-board HD visualisation that facilitates clear view of the navigation path and surgical site, in addition to two working channels that accept a variety of surgical and interventional instruments.
Medrobotics secured the CE mark for the robotic system in March 2014 and the US Food and Drug Administration (FDA) clearance in July 2015.
The firm has also received regulatory clearance for minimally invasive, flexible robotic products for colorectal procedures in Europe and Asia.
Image: A piece of surgical, robotic technology. Photo: courtesy of Business Wire/Medrobotics.