Medrobotics Closes $11.7M Series C

Boston-based Medrobotics Corp. raised $11.7 million in Series C round to further its flexible medical robot technology. The company’s technology is designed to “enable surgeons to access, visualize and perform two-handed surgery in hard-to-reach anatomical places through a single-site access,” the company says. The Pittsburgh Life Sciences Greenhouse contributed to the round, as did other, undisclosed investors.

PRESS RELEASE
Boston-based, robotic snake technology developer, Medrobotics Corporation, announced today that it has closed “Series C” funding in the amount of $11.7 Million. The investment came from current shareholders, a number of new angel investors and from The Pittsburgh Life Sciences Greenhouse. In total, Medrobotics Corporation has raised $28.3 million in preferred equity financing since its academic founders spun it out from Carnegie Mellon University.

About Medrobotics Corporation
Medrobotics has developed a platform of flexible medical robots that enable surgeons to access, visualize, and perform two-handed surgery in hard-to-reach anatomical places through a single-site access. The core technology is a new generation of flexible robotic snakes with advanced vision systems that are able to navigate tortuous paths while providing accessory channels for a wide range of flexible surgical tools. The robots are self-supporting, which means they are able to support their own weight and move within any three-dimensional space without the need for any other structural support.

The Company maintains its corporate headquarters in the Boston area and plans to file for US commercial approval in 2012.

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