Medrobotics closes $26M Series E financing

Medical-robotics company Medrobotics Corp. announced last week that it has closed on a $26 million Series E round of preferred stock financing including existing Medrobotics shareholders and undisclosed new investors. More

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Medrobotics closes $26M Series E financing

Posted 5/21/14

RAYNHAM – Medical-robotics company Medrobotics Corp. announced last week that it has closed on a $26 million Series E round of preferred stock financing including existing Medrobotics shareholders and undisclosed new investors.

Proceeds from the financing round will be used to support regulatory costs and the anticipated commercial launch in Europe and the United States of the Flex Robotic System, an “Ear, Nose and Throat” or “ENT” medical device designed to provide minimally invasive access and visualization for surgery in hard-to-reach locations in the throat and voice box.

Minimally invasive surgery procedures, like that enabled by Medrobotics’ robotic-assist platform, are more cost-effective and lead to quicker hospital discharge and faster patient recovery, Medrobotics said.

Medrobotics had previously announced that it received certification for the sale of the Flex System in Europe.

“The Flex System is the first robot-assisted flexible endoscopic platform for use during surgical procedures,” said Samuel Straface, president and CEO of Medrobotics. “It extends the capability of surgeons to look and reach around corners and operate in hard-to-reach and confined spaces.”

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