Fortimedix Surgical said today that it raised a $12 million Series A round it plans to use to commercialize its newly approved device for single-port laparoscopic surgeries.
The round, which brought in €11 million for Fortimedix’s FMX314 device, was led by Dutch VC shop Chemelot Ventures. All existing investors also participated, the company said, noting that it laned more cash from MKB Leningenfonds and Rijksdienst voor Ondernemend Nederland of the Dutch Economic Affairs Ministry.
Fortimedix in August won 510(k) clearance from the FDA for its flagship product, which it bills as the only single-port surgery solution compatible with a standard 15mm trocar. The FMX314 device won CE Mark approval in the European Union earlier this month.
“We are excited to have Chemelot Ventures as an investment partner in our company, as we rapidly advance to commercialize FMX314 in key markets around the world,” CEO Wout Bijker said in prepared remarks. “Following the recent 510(k) FDA clearance in the U.S. and CE Mark approval in Europe, this funding round represents another significant achievement that further enables us to offer the innovative FMX314 Surgical Platform to patients and healthcare communities around the world.”
“We are proud to partner with Fortimedix Surgical as it launches FMX314, which we believe can deliver on the promise of single-port laparoscopic surgery,” added Chemelot Ventures managing director Casper Bruens. “Since 2004 our firm has been involved with Fortimedix, a global leader in the field of endovascular stents, the company from which Fortimedix Surgical emerged in 2012. We have gained tremendous trust in the company’s leadership and are confident Fortimedix Surgical will achieve the ambitious commercial milestones for FMX314 as planned.”
Nuth, Holland- and San Diego-based Fortimedix said it plans to formally launch FMX314 in the U.S. during the American College of Surgeons annual meeting in Washington next week; the European commercial launch is slated for 2017, the company said.
($1 = €0.907234)