Developer of Minimally Invasive Laparoscopic Surgical Tools, Robots, Raising $2.5M

TransEnterix, a Research Triangle Park, North Carolina venture backed firm, is raising $2.5 million, according to a regulatory filing.

The company, founded in 2003, has developed the FDA-cleared SPIDER Surgical Platform for laparoscopic procedures, which because of its flexible structure allows multiple instruments to be used at times through the same, tiny incision. The company believes this can result in faster recovery by patients. The system is being used in minimally invasive bariatric surgery as well as gall bladder removals.

TransEnterix has also designed the patient-side robotic platform called the SurgiBOT. The mobile device, which is being tested now, gives surgeons high-definition 3D vision, while allowing them to remain at the patient's side at all times instead of moving away to a control console to do the procedure. The device is based on the SPIDER technology. 

"SurgiBot has the opportunity to revolutionize the robotic market,” said Dr. Juan-Carlos Verdeja, the medical director for general surgery at Baptist Health South Florida and an investigator who used SurgiBot in prototype pre-clinical testing, in a TransEnterix news release from late June. “The platform automates what have been manual laparoscopic tasks in meaningful ways with added strength, precision and visualization. Plus, the platform allows me to scrub in and work at the patient’s side, and maintains a tactile feel that I want as a surgeon.

The company expects file for regulatory clearance from the FDA next year.

In late 2011, the company announced it has raised $15 million in a Series B funding round. TransEnterix is backed by private equity firms Aisling Capital and Parish Capital Advisors as well as venture capital firms like SV Life Sciences, Synergy Life Science Partners, Intersouth Partners and Quaker Partners.

CEO Todd Pope is a former Johnson & Johnson executive. 

[Photo Credit: iStockphoto.com user SaulHerrera]

-- By Arundhati Parmar, Senior Editor, MD+DI
[email protected]