Virtual Incision, the developer of the world’s first miniaturized robotic-assisted surgery (RAS) system, has announced a $30 million extension to its previous $46 million Series C financing round. The extension was led by existing investors Bluestem Capital, Endeavour Vision, Baird Capital, cultivate(MD) Capital Funds, and PrairieGold Venture Partners, as well as new investors Arboretum Ventures and InVivium Capital.
This funding extension will support the company’s operations into 2025 as it continues to develop its miniaturized RAS (miniRAS) technology. The miniRAS system aims to deliver the capabilities of traditional RAS systems in a much smaller form factor that can fit in a surgical tray, expanding access to RAS technology for millions of patients.
Virtual Incision has reached significant milestones in the commercial readiness of its MIRA Surgical System, including completing an Investigational Device Exemption (IDE) clinical study and having its De Novo request 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 in select U.S. centers.
The funding will also support a gynecologic clinical study planned for 2024 and the development of a smaller iteration of the miniRAS system for additional general surgery applications, with a first-in-human clinical study expected next year. Virtual Incision will also collaborate with NASA and the University of Nebraska-Lincoln on performing telesurgery in space, using a modified version of MIRA on the International Space Station.
“We’re grateful for our investors – both existing and new – and are excited to build an even stronger medtech syndicate with the additions of Arboretum and InVivium,” said John Murphy, CEO of Virtual Incision.
The MIRA Surgical System is designed to provide the benefits of RAS during abdominal surgical procedures without the logistical inefficiencies of traditional mainframe robotics. It features a small, portable design and can be used in any operating room, making it a versatile and accessible tool for surgeons.