Cambridge-based CMR Surgical, a company that develops surgical robotic systems for minimal access surgery, has secured over $200M (approximately €185M) in the latest financing round through a combination of equity and debt.
The latest funding round was backed by existing investors and new investor Trinity Capital.
Fund utilisation
The UK company will use the funds to accelerate commercial expansion of the Versius Surgical Robotic System to more hospitals globally, with a major focus in the United States.
The company will also use the funds to continue advancing surgical robotics innovation and product development, including the launch of the newly enhanced Versius Plus.
Dan Moore, Non-Executive Chairman at CMR Surgical, says, “The recent funding is a strong vote of confidence in the future of surgical robotics and CMR as a leader within this space. This investment is a significant endorsement of Max and his leadership team and provides them with the resources needed to execute their strategic plan.”
CMR Surgical: Transforming surgery with next-gen robot
Founded in 2014, CMR Surgical (CMR) is a medical device company that aims to transform surgery with Versius, a next-generation surgical robot.
It transforms robotic surgery by fitting into nearly any operating room and enhancing existing workflows, making robotic minimal access surgery (MAS) more accessible.
Its small, modular design allows surgeons to use only the necessary robotic arms.
Mimicking the human arm, the surgical robot provides better port placement and precision with small instruments.
The 3D HD vision and user-friendly controls reduce stress and fatigue for surgeons while improving team communication, claims the company.
Additionally, the robot gathers essential data through its digital tools, helping surgeons learn and improve surgical care.
According to the company’s claims, Verius is the second most utilised soft tissue surgical robot in the world and has been used to complete more than 30,000 surgical cases globally in more than 30 different countries.
It has been used across a wide range of specialties, including colorectal, general, gynaecology, thoracic, and urology surgeries.
Expanding presence with two trials
CMR is expanding its clinical presence with two important trials.
The first is a pediatric study, the world’s first multicentre trial using Versius in children’s surgery.
The second trial focuses on transoral robotic surgery (TORS) and highlights the flexibility and effectiveness of Versius in new surgical uses.
Massimiliano Colella, Chief Executive Officer at CMR Surgical, says, “CMR is a competitive, well-established company with a transformative product providing clear clinical value. We are now at a pivotal stage, poised to capitalise on significant opportunities for market expansion, including in the U.S., while continuing to penetrate deeper into existing markets. I would like to give thanks to our CFO, Andre Nel, and the team for securing this financing to provide the foundation for realising our strategic vision of making robotic assisted surgery accessible to all patients who need it whilst accelerating future product development.”
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