U.K.-based startup Cambridge Medical Robotics said today it is tilting at a growing robotic surgery market and taking aim at market leader Intuitive Surgical (NSDQ:ISRG), according to an interview with Business Weekly.
The startup said it is developing a “next-generation universal robotic system for minimal access – or keyhole – surgery,” and aims to make it more affordable by broadening the range of procedures that can be performed robotically.
The company is headed by former Sargentia CEO Martin Frost, who said the company is taking aim at Intuitive Surgical and their daVinci robot system.
“We are addressing a surgical robotics market dominated by Intuitive Surgical – the major US medical devices company – and one that has now been validated by Google and Johnson & Johnson who announced a couple of months ago that they were collaborating to enter this market to an unspecified timescale,” CEO Martin Frost told Business Weekly.
In 2013, Frost was at the head of a similar startup, called Kinective Surgical, according to an interview with Cabume.
Frost said Kinective Surgical, launched in 2012, aimed to raise $5 million to seek FDA approval for a minimally invasive robotic surgery system. The system was slated to be configurable so purchasers could choose which elements they need, instead of having to buy a full platform, to keep the cost down and make it easier to compete against expensive devices such as the daVinci.
Cambridge Medical Robotics has not released details of their robotic surgical platform, but Frost said the company has 30 patent applications filed in the U.K. and that he is confident of a prototype reveal this year.
The company is supported by Norwegian private foundation Escala Capital, but Frost says the company will need to seek more investors to move forward.
“Our investors, Escala Capital, will and can continue to fund the company but we will be looking to add strategic investors over the next 12 months,” Frost told Business Weekly.
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