Having covered robotics companies for the industrial world, the Deep Tech Insider’s next focus will be startups and older, more established robotics companies whose sole focus is on the medical sector.
To kick off this short series, we have a couple of US-based companies, one founded in Canada and a German concern.
Here’s part 1:
1. Virtual Incision
Virtual Incision is reimagining robotic support for minimally invasive (MIS) procedures with simple innovations offering mobility, flexibility and accessibility to provide MIS options to more patients. The company is developing the MIRA (“miniaturized in vivo robotic assistant”) Platform, a first-of-its-kind miniaturized surgical robotic support device, focusing first on colon resection, with follow-on specialty robots for additional potential applications. The MIRA Platform is an investigational device that is not available for sale in the United States.
Founded in 2006 by Dmitry Oleynikov and Shane Farritor, the Lincoln, Nebraska-based company has raised some $116 million in funding over ten rounds.
2. Magnetecs Corporation
The Inglewood, California-based Magnetecs Corporation, founded in 2003 by Josh Shachar, designs and manufactures a highly efficient robotic Catheter Guidance Control and Imaging (CGCI) system for minimally invasive medical procedures.
The system’s electromagnetic array consists of eight electromagnets in a unique configuration for intelligent guidance of a magnetically tipped catheter, enabling a physician to precisely and consistently control surgical tools in highly dynamic or previously inaccessible environments while enhancing both the physician’s dexterity and the patient’s safety.
3. Brainlab Robotics
Brainlab Robotics was founded in 1989 by Stefan Vilsmeier. Headquartered in Munich, Germany, the company has been thinking about the future of robotic surgery since the late nineties. It wasn’t until 2016, however, when Brainlab began working closely with Medineering (which Brainlab acquired in 2019), working now as one unified team to develop Cirq, a developer of application-specific robotic technologies, that the company was struck by Medineering’s fresh approach with its new surgical robot.
Unlike robotic surgery machines that start at over a million dollars and are limited by their size and surgical specialties, Medineering offered lightweight, vendor-neutral robotic surgical technology that was both cost-effective and highly portable.
Financially, Brainlab has raised a total of $7.3 million over two rounds in VC-backed funding.
4. Monteris Medical
The final entry this time is Monteris Medical, a private equity-backed neurosurgical company focused on diseases of the brain. The company was founded in Winnipeg, Canada in 1999 by Mark Torchia and Richard Tyc to create neurosurgical technology that, when used by neurosurgeons, would allow them to ablate brain tumours and lesions that may be difficult to approach via traditional methods.
The NeuroBlate® System is a minimally invasive robotically controlled laser thermal therapy that uses MRI-guided laser light to ablate (destroy) unwanted tissue in the brain where a lesion, or abnormal tissue, originates.
Monteris Medical has raised an impressive $143.1 million in funding over 16 rounds.