Dental robotic surgical system developer Neocis filed an SEC Form D to confirm the sale of more than $71.8 million in equity.
Miami-based Neocis made the first sale in the new notice offering on Sept. 25 and completed it yesterday, just 12 days later, according to the filing.
The company received participation from 11 investors in total to complete the $71.8 million offering, which is not being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer.
Neocis did not list an intended use of proceeds for the money raised in the financing round, but it will likely go toward the continued development of its dental robotic surgery system.
In July, the FDA issued 510(k) clearance for the Yomi system for robot-assisted dental implant surgery, allowing for a new splint attachment, which broadens Yomi’s application to include full arch implant cases as well as partially edentulous cases, or those involving missing teeth.
Yomi won FDA clearance in March 2017 for dental implant procedures, at which point Neocis touted it as the first robot-assisted device of its kind. The Miami-based company also announced in July 2019 that it raised $30 million for commercialization and R&D for the Yomi system, which was used in over 1,000 dental implants over the course of 2019.