Nearly 30 investors have contributed to the offering, the Colorado-based company reported.
Eximis Surgical is developing a surgical tool called XCor, which is designed for minimally-invasive specimen removal in laparoscopic surgery. The company touted its technology as reducing surgery times and lessening the risks associated with traditional tissue removal methods, like morcellation.
Power morcellators, used to shred and remove tissue, have been linked to the spread of cancerous cells that pass undetected in a patient’s body. Morcellators designed to remove uterine fibroids can spread lethal cancer throughout the abdomen if the fibroids aren’t benign.
In 2014, the FDA issued a “black box” warning for the devices. A year later, the U.S. Government Accountability Office announced it planned to investigate the potential safety and regulatory issued associated with morcellators.
Beyond XCor’s gentler approach to specimen removal, Eximis Surgical has described its device as seamlessly integrating into physician protocols.
The company’s technology also creates tissue segments that are easy for pathologists to identify since they are sliced into narrow strips.
Eximis Surgical is led by a team of former-Covidien executives, including Donna Ford-Serbu and Kristin Johnson.