USA, TransEnterix Secures $55M in Second Financing Round

Durham, NC-based TransEnterix Inc. has secured $55m in a second round of institutional financing led by Aisling Capital, with participation from Intersouth Partners and Quaker BioVentures as new investors, and SV Life Science Advisers, Synergy Life Science Partners and Parish Capital Advisors as existing investors.
TransEnterix has created a single-port, multi-channel laparoscopic surgical platform called the SPIDER System. The SPIDER System – which stands for Single Port Instrument Delivery Extended Reach – allows surgeons to perform minimally invasive abdominal surgeries entirely through a single port.
As stated by Dr. Richard Stack, president of Synecor LLC and a managing partner of Synergy Life Science Partners, the capital will enable TransEnterix to scale its manufacturing and commercial operations in the Research Triangle Park (RTP) in preparation for U.S. market launch.
As a result of the financing, Dr. Andrew Schiff, a managing partner with Aisling, Dr. Garheng Kong, a general partner with Intersouth, and Dr. Matt Rieke, a partner with Quaker, have joined the company’s board.
TransEnterix was founded in 2006 by Synecor, LLC, a business accelerator based in Durham, N.C., that creates technologies in the medical device and combination drug-device markets.

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