Editor’s Note: Robotics Business Review‘s coverage emphasizes innovation, including start-up companies (or ‘young’ companies). RBR “Start-Up Profiles” highlight individual start-up companies using a consistent, templated format that makes for quick, yet informed reading, that also simplifies comparative analysis.
Galen Robotics – Company Profile
| City: | Baltimore | State: |
Maryland |
| Country: | USA | # of Employees: |
38 |
| URL: | www.galenrobotics.com | Founded: |
2016 |
Management – Bruce Lichorowic (CEO and Founder) and Dave Saunders (CTO and Co-Founder)
Funding Status – The company’s Seed Round was oversubscribed and turned into a Mega-Seed round. Galen opened their Series A this year, and the company received a number of term sheets. Galen expects to close the round in Q3 ‘2021. They are seeking follow-on investors.
According to Galen Robotics representatives, Galen is the first company to provide a surgical robotics solution as a service.
Galen Robotics – Offerings Profile
Primary Target Markets – Healthcare / Medical
Technology / Product / Service(s) – Galen is investigating a single-platform, surgical robotics solution to aid surgeons across several disciplines, supporting existing surgical techniques and workflows. Our cooperatively controlled technology aims to stabilize surgical instruments, enabling minimally invasive procedures in otolaryngology, spine surgery, and tissue reconstruction.
Value Proposition – The vision of Galen Robotics is to expand the population of surgeons performing minimally invasive procedures, which produce smaller incisions, and provides other other benefits compared to traditional ‘open’ surgical procedures.
Demand Drivers – The primary demand drivers for Galen Robotics’ solutions include:
- Undeserved Markets -According to Galen Robotics, few surgical robotics technologies exist in the fields of otolaryngology, neurosurgery, and for soft tissue work in the spine.
- Cost Reduction – Today, surgical robots are expensive pieces of equipment requiring a capital expenditure that can limit the hospital’s ability to afford one. According to Galen Robotics representatives, Galen is the first company to provide a surgical robotics solution as a service. With the company’s Digital-Surgery-as-a-Service model, surgical robotics solutions are operationally expensed on a per-usage basis, as opposed to procured by a large, upfront capital purchase. By eliminating the traditional CapEx expendatures for surgical systems, surgical robots will become more affordable for hospitals.
Galen Robotics is currently preparing for its 1st FDA submission in Q1 2022.
Galen Robotics – Business Model(s) and Competition
Business Model – Galen Robotics will primarily work with hospitals and surgeons using a Digital Surgery as a Service (DSaaS) model, where the robots are acquired by a per-usage model. This will make the robots more affordable and expand access to them.
Partners – Galen Robotics is working closely with Johns Hopkins University, where the robot was originally invented. Galen Robotics has been featured in over 40 academic studies. The company is working with a number of strategic partners investigating new applications of the technology.
Customers – Galen Robotics is currently preparing for its 1st FDA submission in Q1 2022.
Competitive Landscape – Galen is focused on Ear, Nose and Throat (ENT), Neurosurgical and the Soft-Spine markets, areas where there are very few, if any, surgical robotics solutions.
Galen Robotics – Recent News
- Surgical Robotics as a Service Gains Traction in Pandemic Aftermath
- Rethinking the Principles of Surgical Robotics
- Galen Robotics is Ready to Raise Money and Grow in 2021 After Year of Delays
- A Robotic Surgery Subscription: Medtech Matters Podcast
- Robots Helping Healthcare Overcome COVID-19 Challenges
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