Cambridge Medical Robotics Ltd. (CMR) claims that its surgical system will expand the current $2.3 billion market for robotic minimal access surgery by a factor of 10
The just completed prototype of the surgical system, which is a modular set-up that uses multiple collaborative robotic arms that mimic the movements of a surgeon and can be easily repositioned around an operating theatre.
According to Cambridge News, “The system offers state-of-the-art 3D high-definition imagery, and also provides the surgeon with force feedback to assist in delicate procedures.
The chairman of CMR, Reynir Indahl, explained: “This funding round is a transformative milestone as CMR, with positive results from recent preliminary cadaveric trials, seeks to be among the first to market with a fully versatile, affordable system expanding the range of procedures beyond that which are presently performed robotically.”
CMR stated the benefits of its new system (as yet unnamed) include less trauma, reduced scarring, faster recovery times and lower costs for healthcare providers.
CMR asserts that robot-assisted surgery can offer all the benefits of manual minimal access surgery while crucially making life easier for the surgeon, extending their careers, and at an affordable cost.
However, the company’s website warns “minimal access surgery is not available to everyone because the techniques are hard to master, the training time long and the procedure physically demanding to perform.”
Believing in the startup to the tune of $20.3 million are ABB Technology Ventures, LGT Global Invest and Cambridge Innovation Capital.
The president of one of the investment groups, Girish Nadkarni, ABB Technology Ventures, commented: “ABB invests in CMR as the company has what looks to be the next-generation platform for minimal access surgery, a field with an enormous potential given today’s expanding needs in the health care industry. Furthermore, CMR’s technologies can have even wider application as the robotic world moves toward fully versatile, collaborative robotic systems.”
Just beginning the surgical system’s start with clinical cadaver trials (June 2016), CMR says that the proceeds from the investment will enable CMR “to continue on its path towards becoming a global medical device manufacturer.
“Specifically, the proceeds will be used to progress development and commercialization of its medical robotic technology, and to expand the team in preparation for regulatory approval.”
The system, according to Business Weekly, “overcomes obstacles to widespread adoption of robotic minimal access surgery, namely robot size, instrument size, versatility, port placement, cost and ease of use, allowing the system to be highly utilized and cost-comparable to manual laparoscopic surgery.”