Memic Innovative Surgery, a medical device company, said it has closed a $96 million Series D funding round, led by Israel’s Peregrine Ventures and investment firm Ceros. along with Jerusalem’s OurCrowd and Israeli VC Accelmed.
The money raised will help commercialize the startup’s Hominis robotic-assisted surgical platform in the US and potentially other countries around the world, the company said in a statement.
The Hominis Surgical System developed by Memic features miniature humanoid-shaped robotic arms. Last month the firm said it received marketing authorization from the US Food and Drug Administration for the robotic surgical device to perform transvaginal hysterectomies in patients.
The device is intended for benign hysterectomy, or the removal of the uterus for non-cancerous conditions along with the removal of one or both fallopian tubes and ovaries.
The financing will also support continued research and development efforts including expanding the company’s portfolio of products and manufacturing scaleup, as well as customer support and training, the company said.
“The Hominis system represents a significant advancement in the growing multi-billion-dollar robotic surgery market. This financing positions us to accelerate our commercialization efforts and bring Hominis to both surgeons and patients in the months ahead,” said Dvir Cohen, co-founder and CEO of Memic.
The Hominis (Latin for humanoid) system features miniature humanoid-shaped robotic arms that provide human-level dexterity, multi-planar flexibility and 360 degrees of movement, the company said. The biomimetic instruments are designed to replicate the motions and capabilities of a surgeon’s arms, with shoulder, elbow and wrist joints. Multiple instruments can be introduced to the body through a single portal and the 360-degree articulation offers obstacle avoidance as well as optimal access and working angles.
In addition to these features, the system will be sold at a significantly lower price than other marketed robotic surgery systems, potentially allowing more medical facilities including hospitals and ambulatory surgical centers to access and adopt surgical robotics, the statement said.
Founded in 2012 by Nir Shvalb and Dvir Cohen, the firm has headquarters in Tel Aviv as well as a wholly owned subsidiary in Fort Lauderdale, Florida. Accelmed, OurCrowd and Peregrine Ventures were already investors in the firm before the latest round.