Finland-based Surgify, a medical technology company specializing in bone surgery, raised €7 million ($7.9 million) in Series A funding.
The round was led by Zeiss Ventures, with participation from the European Innovation Council Fund (EIC Fund). Lednil and Cascara Ventures participated in the round.
WHAT IT DOES
The company’s flagship product, Surgify Halo, is a tissue-specific bone removal system that provides improved protection against incidental soft-tissue damage during surgical procedures and permits greater flexibility in bone resections near vital soft tissues.
The company claims that its “HaloSense” technology enables shorter bone removal procedures without compromising patient safety.
The HaloSense technology is composed of a pressure-controlled ring with a diameter larger than that of a drill tip.
The ring retracts when pressed against hard tissues (crystalline bone) to a level lower than the cutting edges, which the company says allows Surgify Halo to cut and shape bone more effectively.
The company will use the funds to grow its operations in the European Union and U.S.
“ZEISS brings unparalleled experience in surgical technology and a global network, while the EIC’s continued support and earlier grant financing underscore the European innovation ecosystem’s confidence in our solution,” Visa Sippola, cofounder and CEO of Surgify Medical, said in a statement.
“With this funding and regulatory approvals in both the EU and the U.S., we are well-positioned to bring our unique technology to more surgeons and patients internationally.”
MARKET SNAPSHOT
In 2021, Surgify announced the first use cases on patients of its bone surgery technology. The surgeries were performed at Helsinki University Hospital (HUS).
Other companies involved in the bone-cutting technology space include Intuitive Surgical, a company that develops, manufactures and markets robotic products focused on minimally invasive surgery. Its most notable product is the da Vinci Surgical System.
Stryker manufactures medical and surgical equipment with an extensive portfolio in orthopedics, and Medtronic products include cardiac devices, surgical robotics, insulin pumps, surgical tools and patient monitoring systems.
Credit: Source link
