Virtual Incision Corporation, a Lincoln, NE-based medical device company advancing a miniaturized surgical robot, raised $20m in a Series B+ financing.
The round was led by returning investor Bluestem Capital, with participation from returning investor PrairieGold Venture Partners, as well as from Genesis Innovation Group and other affiliated investors.
The funds will support regulatory and clinical programs leading to the commercialization of the company’s MIRA™ (“miniaturized in vivo robotic assistant”) Surgical Robotic Platform.
Led by John Murphy, president and CEO, Shane Farritor, Ph.D., co-founder and chief technology officer, and Dmitry Oleynikov, M.D., co-founder and chief medical officer, Virtual Incision is developing the MIRA Surgical Robotic Platform, a miniaturized surgical robot, focusing first on colon resection, with follow-on specialty robots for additional potential applications like hernia repair, gallbladder removal, antireflux surgery, splenectomy, adrenalectomy, gastric sleeve, gastric bypass, hysterectomy and hepato-pancreato-biliary procedures.
The platform features a small, self-contained surgical device that is inserted through a single midline umbilical incision in the patient’s abdomen. The technology is designed to enable complex multi-quadrant abdominal surgeries utilizing existing tools and techniques familiar to surgeons, and does not require a dedicated operating room or specialized infrastructure. MIRA is an investigational robot that will enable surgeons to perform minimally invasive surgeries in any hospital or surgery center, without the need for a dedicated space or the infrastructure typically required for “mainframe” robotic systems. Weighing two pounds, the miniature single incision platform has full robotic capabilities, and can be moved from room to room.
The company also announced its filing for an Investigational Device Exemption (IDE) with the U.S. Food and Drug Administration (FDA). An IDE approval will allow Virtual Incision to initiate a confirmatory clinical study of the MIRA Surgical Robotic Platform in support of regulatory pathway to approval. The study will evaluate the safety and efficacy of the MIRA platform for colon resection surgeries in patients at a number of U.S. investigational sites.