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| [December 20, 2012] |
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Medrobotics Completes $33.6 Million Series D Financing
RAYNHAM, Mass. --(Business Wire)--
Medrobotics Corp., an emerging medical robotics company developing the
innovative Flex™ Robotic System, announced today the conversion
of notes totaling $33.6 Million purchased through recent
financings into Series D Preferred Stock. Existing Medrobotics
shareholders and undisclosed new investors participated in the Series D
raise. Proceeds will be used for regulatory preparations and submissions
and for anticipated commercial launches next year in Europe and the
United States.
"Patients, surgeons, and hospitals will all benefit from the Flex
Robotic System's enabling minimally invasive surgical technology,"
said Samuel Straface, Ph.D., president and CEO of Medrobotics.
"The Flex Robotic System/i> will provide transoral single-site
access and visualization for surgery in hard-to-reach locations in the
throat and voice box. Minimally invasive surgery has been shown to be
more cost-effective and less painful for the patient and also leads to
quicker hospital discharge and faster recovery."
The Flex Robotic System is anticipated to provide a
cost-effective, robot-assisted surgical platform for hospitals and
surgeons eager to expand their offering of minimally invasive treatment
options. In addition to ENT, the platform is being developed for several
other single-site access surgical applications with difficult-to-reach
anatomies.
About Medrobotics
Medrobotics Corporation (www.Medrobotics.com)
is a privately held company headquartered in Raynham, Massachusetts,
that is developing and commercializing the Flex Robotic System, a
robotic-assist platform that enables surgeons to gain single-site access
and visualization to difficult-to-access anatomical locations. The robot
provides a precise and stable platform for enhanced visualization and
enables two-handed dexterity with compatible third-party tools having
tactile feedback.
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