Surgical robot maker Distalmotion announced today that it closed a Series E financing round worth proceeds of $90 million.
Revival Healthcare Capital led the round, with participation from 415 Capital and existing investors.
According to a news release, Lausanne, Switzerland-based Distalmotion intends to use the funding to support the global commercialization of its Dexter surgical robot. Dexter received CE mark approval in Europe in December 2020.
Distalmotion designed Dexter for laparoscopic surgery in the fields of genera, gynecological and urological surgery. The company said the latest investment arrives as the platform takes its first steps into the operating room and the imminent commercial rollout looms.
The company says that the Dexter system combines the affordability of laparoscopy with the benefits of robotic surgery to increase simplicity and versatility in the space. Leading European hospitals are currently spearheading the development of procedure guidelines and training protocols for robotic surgery with Dexter as part of clinical studies and an early adopter program (EAP).
Research and installations carried out at EAP reference center sites will make surgical robotics more accessible to a wider range of procedures, Distalmotion said, beginning in Western Europe with eyes on global expansion, including in the U.S. The company plans to work closely with the FDA on a U.S. submission supported by the latest financing.
“Dexter combines the best of both worlds – laparoscopy and robotics – to make sense of robotic surgery,” Distalmotion CEO Michael Friedrich said in the release. “By addressing essential problems that operating room teams face: bringing dexterity, precision and ergonomics to robotic surgery while upholding familiar laparoscopic workflows and proven laparoscopic processes, we can deliver on our mission to fast-track widespread adoption of robotic surgery in minimally invasive care.”
In addition to the financing, Revival will offer leadership advice and expertise for Dexter’s international rollout, with Rick Anderson and Lauren Forshey joining the Distalmotion board. Anderson joins as chairman and Forshey joins as an observer.