Levita Magnetics, a Menlo Park, CA-based company that provides patients with access to surgery, closed its $26m Series C financing.
The round was was led by a healthtech investment group managed by seasoned investor Evan Norton, with participation from MedTex Ventures, as well as Invermaster and Carao Ventures, amongst other returning investors. The company also announced the appointment of Maria Sainz as chairwoman to its board of directors.
The company intends to use the funds to support regulatory and near-term commercial efforts in the United States for its Magnetic-Assisted Robotic Surgery (MARS) platform.
Led by Dr. Alberto Rodriguez-Navarro, surgeon, founder and CEO, Levita Magnetics leverages the MARS platform, which is designed to deliver the clinical benefits of the its first commercial product, the Levita Magnetic Surgical System®, including less pain, faster recovery and fewer scars for patients. Additional benefits of MARS include the potential for improved visualization, enhanced surgeon control of instruments, and increased hospital efficiency, with fewer assistive personnel required to conduct the procedures. With its compact footprint, the new robotic platform is designed for outpatient or same-day discharge procedures in high-volume abdominal surgeries.
To date, more than 30 cases have been performed with the Levita® Robotic Platform in a clinical trial in Chile, including obesity procedures (sleeve gastrectomy) and same day discharge (ambulatory) cholecystectomies. In all cases, a reduced port technique was utilized, reducing the number of incisions for the patients.
New chairwoman Maria Sainz has more than 25 years of experience in the medical technology industry including serving as president and CEO of AEGEA Medical, Cardiokinetix and Concentric Medical, among other roles. She also serves as a member of the board of directors of Shockwave Medical (SWAV), Avanos Medical (AVNS), Hyperfine (HYPR), Atrion Corporation (ATRI) and Tissium.
FinSMEs
11/08/2022