Distalmotion, a medical device company founded and based in Lausanne, Switzerland, announced on Wednesday that it has raised $90M (approx €80.65M) in its Series E round of funding to support the commercialisation of its surgical robot ‘Dexter’.
The investment follows the company’s completion of Dexter’s first clinical cases. Leading European hospitals are spearheading the development of procedural guidelines and training protocols for robotic surgery with Dexter as part of clinical studies and an Early Adopter Program (EAP).
The funds will also help Distalmotion to work closely with the US Food and Drug Administration (FDA) on a US submission.
“World’s first and only hybrid surgical robot”
Distalmotion is a medical device company that serves as a partner to hospitals and clinics worldwide and claims to provide reliable and precise robotic surgery systems at fair per-procedure cost. The company was founded in 2012 as a spin-off from the Swiss Federal Institute of Technology in Lausanne (EPFL).
It aims to remove the complexity out of robotic surgery to establish a new standard of care. It wants to help patients in general surgery, gynecology, and urology to have access to ‘best-in-class’ minimally invasive care. And to do that, it has developed a surgical robot called Dexter.
Distalmotion claims Dexter can integrate the benefits of laparoscopy and robotics. According to CEO Michael Friedrich, “Dexter combines the best of both worlds – laparoscopy and robotics – to make sense of robotic surgery. By addressing essential problems that operating room teams face, we can deliver on our mission to fast-track the widespread adoption of robotic surgery in minimally invasive care.”
Prof. Dieter Hahnloser, who heads colorectal surgery at Lausanne University Hospital, has performed the worldwide first general surgery procedure with Dexter in 2021.
Hahnloser says, “Dexter’s open platform and the ability to switch quickly between standard laparoscopy and the robot give me an added sense of control and the freedom of choice to use the best instruments available for the job. To have these benefits while remaining sterile, with direct access to patient and robot, indicates Dexter can be a gamechanger in ORs around the world.”
Investors in this round
The funding was led by Revival Healthcare Capital with participation from 415 Capital, as well as existing investors.
Besides the investment, Revival will also contribute hands-on leadership as the company gears up for growth. Revival Chairman Rick Anderson will join the Distalmotion board as Chairman, while President Lauren Forshey will join as an observer.
Speaking on the development, Anderson says, “The market is overdue for a fundamentally new approach to robotic surgery, where the mindset needs to be about ‘the surgeon’s robot’ not molding ‘the robot’s surgeon’. Dexter is designed to work the way surgeons and OR teams work: patient-focused and user-centric, providing necessary patient access and optimal tools for every step of the way. We are excited to deliver this value proposition to surgeons, OR teams, and patients worldwide.”