From — who joined the company last year and lost his job today along with the other remaining Vicarious Surgical employees — said he was in talks with a potential buyer in recent days.
Instead, medical device OEMs have signed nondisclosure agreements to access the company’s data room while Vicarious Surgical assets are auctioned off.
“I was so impressed with what they were able to do,” From said in a MassDevice interview. “That’s why I’m so mad. I’m so frustrated. This is the type of platform that deserves to be in the clinic and in the hospitals, helping patients. That’s a shame.”
The company raised about $300 million in total — most of that from a special purpose acquisition company (SPAC) merger in 2021 — but could not get its R&D program to a design freeze, which From hoped to achieve by the end of 2026.
The company was spending about $50 million a year when From joined the company in August 2025, he said, and restructuring got the burn rate below $20 million by the beginning of this year without pushing back the end-of-2026 design freeze target.
But by then the company’s market capitalization had dropped enough that the NYSE put Vicarious Surgical on its watch list for potential delisting, and that killed the company’s efforts to raise more cash.
“We got this notification, and the bankers, rightly so, said it’s over,” From said. “… With the money we had in the bank when we went out in January, we said another $10 million net would get us to the end of the year.”
(We’ll have more from our interview with From soon at Medical Design & Outsourcing. Subscribe to MDO’s free newsletter so you don’t miss it.)
The Vicarious Surgical board unanimously proposed the closure and liquidation to investors last month, saying it could not predict whether there would be anything left to repay investors.
Vicarious Liquidation LLC will liquidate the soft-tissue robotics developer’s assets to settle outstanding obligations, according to a new securities filing.
That filing also put a figure to severance payout eligibilities for executives: $672,699 for From, $779,190 for co-founder and President Adam Sachs, and $611,261 for co-founder Chief Technology Officer Sammy Khalifa. The three former executives will also have full vesting for outstanding equity awards with time-based vesting.
“The severance payments described above represent the executives’ contractual entitlements under their respective employment agreements,” the company said in the filing. “The extent to which any amounts ultimately are paid will be determined in connection with the assignment and applicable law.”
In a previous securities filing ahead of today’s special meeting of stockholders, the company said it had nearly $3.7 million of cash, cash equivalents and short-term investments as of March 31.
“Since inception, we have experienced recurring operating losses and negative cash flows, and we expect to continue to generate operating losses and consume significant cash resources for the foreseeable future,” the company said. … “We do not expect our cash and cash equivalents to be sufficient to continue as a going concern for any significant period of time.”
The company said there are “uncertainties as to the ultimate amount of our liabilities,” but reported $9 million in total liabilities at the end of March and $12.6 million in assets.
The company lost $7.3 million that quarter, following a $50.2 million loss in 2025 and $63 million loss the year before.
As of March 9, Vicarious reported 26 employees: 11 in R&D, regulatory and clinical, eight in manufacturing and quality assurance, and seven in marketing, sales, and administration. The company said it leases 42,000-square-feet of office space at its Waltham, Massachusetts headquarters.
Since then, Vicarious Surgical CFO Sarah Romano has tendered her resignation to take the same role at SS Innovations on Aug. 3.
