Virtual Incision Raises Additional USD30M Series C Funding

The round was led by Bluestem Capital, Endeavour Vision, Baird Capital, cultivate(MD) Capital Funds, and PrairieGold Venture Partners, as well as new health-tech investors Arboretum Ventures and InVivium Capital.The company intends to use the funds to accelerate advancements of its MIRA Surgical System.Led by John Murphy, President and CEO, Virtual Incision is focused on advancing patient access to RAS, especially in routine and high-volume procedures, many of which are performed in outpatient and ambulatory surgery centers. It is developing MIRA, which is a miniaturized robotic-assisted surgery (RAS) system. Its small, sleek form factor is designed to offer the benefits of RAS during abdominal surgical procedures without the logistical inefficiencies of traditional mainframe robotics. The device weighs approximately two pounds and offers internal triangulation with shoulders, arms, and infinite wrist roll inside of the body. It can be used in any operating room – a dedicated mainframe room is unnecessary.This funding follows a series of milestones toward commercial readiness of the MIRA Surgical System. Earlier this year, the company completed an Investigational Device Exemption (IDE) clinical study for MIRA’s use in bowel resection and announced that its De Novo request is under substantive review by the U.S. Food and Drug Administration (FDA). If granted marketing authorization, the company plans to initiate a limited launch of MIRA across select U.S. centers.Virtual Incision is focused on advancing patient access to RAS, especially in routine and high-volume procedures, many of which are performed in outpatient and ambulatory surgery centers. The investment will be used to support this mission through a gynecologic clinical study planned for 2024. The company will also continue to develop a smaller iteration of the minibot to enable additional general surgery applications with a first-in-human clinical study expected next year.19/09/2023