Virtual Incision Corporation plans to commercialize its MIRA ("miniaturized in vivo robotic assistant") Surgical Robotic Platform with the raised funds and support its regulatory and clinical programs
Fremont, CA: Virtual Incision Corporation, a medical equipment company, introducing the first-of-its-kind miniaturized surgical robot, has raised $20 million in Series B funding. The financing round was led by previous investor Bluestem Capital with participation from PrairieGold Venture Partners, Genesis Innovation Group, and other investors.
The company plans to commercialize its MIRA™ ("miniaturized in vivo robotic assistant") Surgical Robotic Platform with the raised funds and support its regulatory and clinical programs. Virtual Incision will also file an Investigational Device Exemption (IDE) with the U.S. Food and Drug Administration (FDA). This will allow the company to kick-start a confirmatory clinical study of the MIRA Surgical Robotic Platform. The study will help in evaluating the safety and efficacy of the MIRA platform for colon resection surgeries in patients.
Being an investigational robot, MIRA will enable surgeons to carry out minimally invasive surgeries in any surgery center or hospital, without the need for a specified infrastructure or space typically required for "mainframe" robotic systems. The miniature single incision platform weighs only two pounds and has full robotic capabilities. It can be easily moved from room to room.
"We designed the MIRA Surgical Robotic Platform with the fundamental understanding that minimally invasive procedures offer tremendous benefits to patients. We believe our portable and affordable abdominal robot has the potential to bring these benefits to many more patients," said John Murphy, president, and CEO of Virtual Incision. "The planned IDE clinical study of MIRA is the critical next step for the company."
Virtual Incision aims at increasing patients' access to minimally invasive abdominal surgery and to maximize hospital efficiency in different settings at a price considerably lower than presently available robotic structure.
"Beyond our initial device design for colon resection, Virtual Incision has begun developing a family of procedure-specific mini-robots for additional operations such as hernia repair, gallbladder removal, and others, potentially enabling millions more surgical procedures each year," said Shane Farritor, Ph.D., Virtual Incision's co-founder and chief technology officer.