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Galen Robotics, a surgical robotics firm seeking to erase the massive capital expenditures end-users face when contemplating surgical robotics platforms, introduced that it introduced in $15 million in funding in an oversubscribed Series A spherical.
Galen Robotics goals to supply its surgical robotic system, the Galen robotic, utilizing a digital-surgery-as-a-service mannequin, a per-usage disposable mannequin. This mannequin permits the top consumer to pay based mostly on utilization of the robotic, as a substitute of paying a big lump sum upfront, just like a robots-as-a-service strategy.
“Because the pandemic wreaked havoc on hospital profits with elective surgeries being postponed, we had to pivot our business model from hospitals paying upfront for capital equipment to “as a Service”. We would be the first robotic firm to launch utilizing an On-Demand enterprise mannequin.” Bruce Lichorowic, President and Chief Executive Officer of Galen Robotics, stated.
The Galen robotic is designed to be simply built-in into present surgical workflows and help surgeons in performing minimally invasive procedures. Right now, the corporate is specializing in laryngological procedures, nevertheless it hopes to broaden the scope of the platform into ENT, neurosurgery, backbone and cardiothoracic procedures.
Galen Robotics used its Series A spherical to assist full the ultimate prototype of the robotic and its submission to the FDA. It additionally plans to make use of the funding to develop a scientific gross sales staff, broaden engineering, develop product improvement and develop surgeon coaching applications.
Ambix Healthcare Partners, based mostly in Menlo Park, CA, led the Series A spherical. After closing the spherical, the corporate opened a 2nd shut for the Series A funding spherical for an extra $5 million.
“It was an easy and quick decision for our firm to lead the Galen Series A funding round,” Dr. Aaron Berez, Managing Director of Ambix Healthcare Partners, stated. “We watched this team take an early surgical robotic prototype from Johns Hopkins University’s Robotics Lab, develop it into a potential game changer, and submit it to FDA, all during a pandemic. Add to that the current state of supply chain issues, and economic uncertainty, and we’re very impressed with how this team was able to consistently execute and hit their milestones.”