Rob Surgical said last month that it closed an investment round worth more than $5.5 million (€5 million) for the launch of its Bitrack robotic surgical system.
The investment round was led by Dutch holding company Scranton Enterprises.
The Bitrack platform is designed to be flexible, modular and open while combining manual and robotic surgery for hybrid minimally invasive surgery, according founding member of Rob Surgical Dr. Josep Amat. The company sees it as an alternative to the Intuitive Surgical (NSDQ:ISRG) Da Vinci system. Medtronic (NYSE:MDT) has also thrown its hat in the ring by reportedly developing its own soft tissue surgical device.
Surgeons from the Mayo Clinic in the U.S., as well as Barcelona university hospitals Clinic, Vall d’Hebron and German Trias, have all experimentally used the Bitrack system, according to a news release. The company, a spin-off of the Polytechnic University of Catalonia and the Institute for Bioengineering of Catalonia, said it plans to build three new units between 2019 and 2021 for the finalization of the validation and industrial processes.
Rob Surgical also said it is planning to expand its corporate and engineering team as it conducts the final safety and functionality trials for the Bitrack platform. The company has raised nearly $8.9 million (€8 million) from private investors and more than $1.1 million (€1 million) from public funding.
“This investment will allow us to obtain CE certification in 30 months,” CEO Jaume Amat said in prepared remarks. “The Bitrack system will be an alternative to the current laparoscopy surgical robot da Vinci, and will be an improvement on what is currently available in terms of efficiency. Our value proposition that differentiates us from other surgical robots is based on three cornerstones: high precision benefiting the patient, superior usability for the surgeon and a significant total cost of ownership reduction benefiting hospitals.”
Osborne Clarke and RCD provided advice during the process, Rob Surgical said.
$1 = €0.903335