Zurich-based Nanoflex Robotics, a company that provides advanced medical robotic interventions for treating ischemic stroke, announced that it has raised over $12M (approximately €11.23M) in a Series A round of funding.
The medtech startup says it will use the funds to roll out its first-generation system to market and accelerate the development of new neuro-interventional products.
With the use of electromagnetic fields, the company’s robotic platform can accurately guide cables and catheters through the vasculature, and a first-in-human trial and FDA submission is already planned for Q3, 2023.
Investors supporting this round
The round was led by Ascend Capital Partners, a VC and financial advisory firm that works with companies that have the potential to grow and expand internationally, particularly in Europe, Asia, and the US.
The round also saw participation from Kinled Holding Ltd, a medical device/robotics investor with a track record of identifying “successful” spin-outs from EPFL/ETH Zurich with a combined AUM of $250M, and Mountain Labs AG, an incubator that focuses on early-stage technology investments in Switzerland and Austria.
With this investment, Jerry Hong, CEO of Ascend Capital Partners, will join Nanogflex’s board of directors.
Hong says, “We are excited to support this team in reinventing the surgical robotic space with remote vascular interventions. We especially recognise its potential to achieve more equitable patient access to timely mechanical thrombectomies, which are very effective for preserving the post-stroke quality of life for patients.”
“Advancing medical robotic interventions”
Founded by Prof Bradley Nelson, Dr Christophe Chautems and Matt Curran, Nanoflex Robotics’ technology generates and controls electromagnetic fields for endovascular navigation of magnetic devices. Its products aim to diagnose and treat vascular disease, including acute ischemic stroke, in a timely and safe manner.
The initial product from Nanoflex will be a compact and portable electromagnetic field generator that can be moved easily between hospital interventional suites and will not require a high-voltage power connection or access to a water-based cooling system.
According to the company, the system enables direct tip control of magnetically adapted interventional devices in comparison to conventional procedures where torque is often transferred more than a metre along the length of devices to regulate tip direction.
CEO Matt Curran says, “Nanoflex Robotics aims to revolutionise the catheter-based treatment of neurovascular and vascular disease by enabling faster and safer access to target sites in the vasculature. Our robotic system allows precise and flexible steering of magnetically-adapted guide wires and catheters, while potentially decreasing X-ray exposure for the physician.”
“We are excited to partner with Ascend Capital Partners, Kinled and Mountain Labs to make our goal of safe remote treatment for acute ischemic stroke a reality.”
A medtech spin-off from ETH Zurich
Nanoflex Robotics was founded in November 2021 as a spin-off of the Multi-Scale Robotics Lab at ETH Zurich. The technology developed by the company is the result of more than 20 years of study at ETH Zurich, the Swiss Federal Institute of Technology. Wyss Zurich and ETH Zurich have both continued to support the initiative.
The Wyss Zurich Translational Center (Wyss Zurich) is a joint accelerator of the University of Zurich and ETH Zurich, made possible by a donation from Dr Hansjörg Wyss, a Swiss entrepreneur and philanthropist.
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