Medrobotics® Closes $20MM Financing To Expand Into General Surgery And Build Next Generation Robot System

RAYNHAM, Mass.–(BUSINESS WIRE)–Medrobotics Corp., a medical products company, today announced closing a

$20 Million Preferred Stock financing. Existing Medrobotics shareholders

participated in the round. Proceeds will be used to fund the Company’s

expansion into new surgical applications, such as single-port general

and gynecological surgeries, and to develop its next generation Flex®

Robotic System with more fully robotic instrument options.

Medrobotics will continue to pursue scarless ENT, colorectal and

gynecological procedures to be performed through natural body orifices

with the world’s first and only commercially released steerable and

shapeable robotic surgical products. Additionally, the Company will

develop the Flex® Robotic System for single port abdominal

applications for a variety of difficult to reach procedures in general

surgery, urology, and gynecology.

The Flex® Robotic System has been cleared for ENT procedures

in the United States and internationally. Last year, Medrobotics became

the first robotic company to obtain regulatory clearance for minimally

invasive, flexible robotic products for colorectal procedures in Europe

and Asia. The Flex® Robotic System is now the first robotic

surgical platform offering the ability to access hard to reach anatomy

in both otolaryngology and colorectal procedures without the limits

imposed by straight rigid instruments.

About Medrobotics

Medrobotics Corporation (www.Medrobotics.com)

is a privately funded medical device company headquartered in Raynham,

Massachusetts. The Company manufactures and markets the Flex®

Robotic System, the world’s first robotic surgical platform with a

steerable and shapeable robotic scope. The Flex® Robotic

System offers surgeons the unique ability to navigate complex anatomy

minimally invasively and operate in hard-to-reach anatomical locations

that might otherwise be inaccessible with straight, rigid surgical

tools. The Company’s is committed to providing more patients access to

advanced, minimally invasive surgery. Medrobotics received FDA clearance

for the Flex® Robotic System in July 2015, and the CE mark in

March 2014. The System is not yet cleared for colorectal applications in

the US.

http://www.businesswire.com/news/home/20170220005705/en/Medrobotics-Closes-20MM-Financing-Expand-General-Surgery

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