ArthroLense, a Toronto-based medical technology company, has secured financing from Canadian private equity firm Lynx Equity. No financial terms were disclosed. ArthroLense develops augmented and mixed reality surgical guidance systems.
TORONTO (PRWEB) May 13, 2021
ArthroLense, Inc., an emerging pioneer in the development of augmented and mixed reality surgical guidance systems, announced today the successful completion of a funding round in collaboration with Toronto-based private equity firm, Lynx Equity Limited. Terms of the deal were not disclosed.
Founded in 2019 by orthopedic physicians Russell Nevins, MD of Las Vegas, NV, and David Backstein, MD, of Toronto, ON, ArthroLense, Inc., is engaged in the development of real-time, hologram-based navigation systems for surgical procedures. ArthroLense’s initial product development activities are targeting unmet needs and opportunities in high-volume orthopedic procedures including hip and knee arthroplasty.
“The advent of high powered gaming engines in concert with advanced wearable optics have catalyzed a vast new innovation space, and ArthroLense’s patented and proprietary technology is pushing new boundaries to explore the seamless integration of real-time digital imaging with surgeon-controlled medical instrumentation,” explained co-founder Dr. David Backstein.
Through the incorporation of three-dimensional spatial mapping and proprietary multi-axis marker placards, the ArthroLense technology enables physicians to visualize the effects and results of tissue cuts and preparatory procedures automatically with no pre-operative scans and no time-consuming bone array placements.
“New medical technologies often add time to surgery and end up being complicated for the user and expensive for the institution,” noted co-founder Dr. Russell Nevins. “But the ArthroLense system is engineered to integrate seamlessly with the current surgical flow in an intuitive and beneficial manner. And, by eliminating the typical touchscreen and foot pedal setup, we empower physician users to interact using gestures and voice commands, an ideal configuration for busy surgeons and particularly those operating at ambulatory surgical centers.”
ArthroLense, Inc., intends to utilize funding proceeds provided by Lynx Equity to complete its product design history file (DHF), embark on an initial 510(k) regulatory filing with the US Food & Drug Administration (FDA), and bolster the company’s expanding intellectual property portfolio in advance of global commercialization.
Based in Toronto, Ontario, ArthroLense, Inc. is a medical technology firm focused on the development and commercialization of hologram-based surgical navigation systems. ArthroLense holds multiple pending and issued patents and develops operating-room based solutions that leverage augmented and mixed reality technology to deliver real-time, actionable datasets to operating physicians. For more information, please email email@example.com or visit our web portal at http://www.arthrolense.net