Alesi Surgical said this week that it raised $5.8 million to support commercialization of its Ultravision surgical device. Venture capital firms Panakes and Earlybird contributed to the new investment, joined by existing shareholders IP Group and Finance Wales.
The company is slated to use the newly-acquired funds to drive commercial expansion of Ultravision into the U.S.
In conjunction with the financing, Thom Rasche of Earlybird and Alessio Beverina of Panakes Partners will join Alesi’s board as investor directors, according to the company.
“Earlybird and Panakes are 2 highly respected European venture capital companies and in such a competitive funding environment their interest in Alesi and Ultravision speaks volumes for our potential,” Alesi Surgical managing director Dominic Griffiths in prepared remarks. “With the 2 new additions to the board we have expanded our expertise in this market and having four corporate investors places us in a strong position for future growth.”
The company’s Ultravision platform recently won FDA approval and clearance by the Japanese Ministry of Health. The system uses electrostatic technology to clear the “surgical smoke”, vapor and particulate matter, that is produced by machinery used during abdominal laparoscopic surgery.
The device improves visibility for surgeons and also reduces the amount of cold, dry carbon dioxide gas that a patient is exposed to during the procedure. Traditionally, carbon dioxide gas is used to create a working space for the surgeon inside a patient’s abdomen.
“Obscuring of the surgical view during the laparoscopic procedure is not only cumbersome to surgeons but adds an additional risk to the safety of the procedure and to the staff being exposed to the smoke,” Rasche said. “Alesi has developed a fabulous, simple and very effective solution to help address these risks.”
“I am delighted to support the Alesi development. Its unique patented technology is a smart and simple solution for a real problem for laparoscopic surgeons and nurses in the operating room, both in standard and robotic operations,” Beverina added. “Whilst Alesi’s research and development product pipeline promises to be a game changer in the sector.”