Medrobotics Completes $33.6M Series D Financing

Company Prepares for Commercialization of the Flex Robotic System in Otolaryngology

December 26, 2012
Manufacturing Group
Assembly Materials Quality/Metrology People/Facilities

Medrobotics Corp., an emerging medical robotics company developing the innovative Flex Robotic System, announced today the conversion of notes totaling $33.6 million purchased through recent financings into Series D Preferred Stock. Existing Medrobotics shareholders and undisclosed new investors participated in the Series D raise. Proceeds will be used for regulatory preparations and submissions and for anticipated commercial launches next year in Europe and the United States.

“Patients, surgeons, and hospitals will all benefit from the Flex Robotic System’s enabling minimally invasive surgical technology,” says Samuel Straface, Ph.D., president and CEO of Medrobotics. “The Flex Robotic System will provide transoral single-site access and visualization for surgery in hard-to-reach locations in the throat and voice box. Minimally invasive surgery has been shown to be more cost-effective and less painful for the patient and also leads to quicker hospital discharge and faster recovery.”

The company anticipates the Flex Robotic System will provide a cost-effective, robot-assisted surgical platform for hospitals and surgeons eager to expand their offering of minimally invasive treatment options. In addition to ENT, the platform is being developed for several other single-site access surgical applications with difficult-to-reach anatomies.