Medical Microinstruments, a leader in microsurgery innovation, announced today a significant milestone in its journey towards revolutionizing surgical procedures. The company has successfully secured $110 million in a Series C financing round, led by Fidelity Management & Research Company. This funding marks the largest-ever investment in microsurgery innovation and underscores the growing interest in advancing medical robotics.
The primary goal behind this substantial investment is to propel the commercialization of Medical Microinstruments’ groundbreaking Symani surgical system. With a focus on high-growth markets, the company aims to expand patient access to advanced surgical interventions while ensuring the highest standards of precision and safety. Additionally, a portion of the funds will be allocated to ongoing clinical studies, which are crucial in generating critical clinical evidence and facilitating indication expansion.
Based in Pisa, Italy, Medical Microinstruments has already achieved CE mark approval for its Symani system in 2019 and is diligently working towards commercialization in the United States. Moreover, the company has set its sights on penetrating the Asia Pacific region, further broadening its global footprint. The Symani system stands out as a pioneering robotic technology designed to address the intricate challenges of microsurgery, particularly in soft tissue open surgical procedures.
At the heart of the Symani system lies its revolutionary NanoWrist instruments, which empower surgeons to access and suture small, delicate anatomies with unparalleled precision. Capable of maneuvering within veins, arteries, nerves, and lymphatic vessels as small as 0.3mm in diameter, these instruments offer motion scaling and tremor reduction, facilitating precise micro-movements essential for intricate surgical procedures.
The Series C financing round saw enthusiastic participation from Medical Microinstruments’ existing investors, reflecting their unwavering confidence in the company’s vision and potential for rapid growth. To date, Medical Microinstruments has raised over $200 million in funding, including a notable $75 million Series B round in 2022.
Mark Toland, CEO of Medical Microinstruments, expressed gratitude for the steadfast support from investors, emphasizing the pivotal role of the Symani Surgical System in transforming patient care. He stated, “Against a backdrop of plateauing investments in medical robotics, this support builds on our confidence in a new, less invasive solution for open surgery, a significant market that can benefit from the smallest wristed microinstruments.”
Toland further highlighted the company’s commitment to advancing surgical technology through robust clinical evidence and strategic hospital partnerships. “With the support of our investors, we will continue to advance our technology through a growing body of clinical evidence and expanded hospital partnerships,” he affirmed, underscoring Medical Microinstruments’ unwavering dedication to driving innovation and improving surgical outcomes for patients worldwide.
