CMR Surgical poised for US expansion after $200m raise
UK Science Minister Lord Vallance has called CMR Surgical’s $200million funding round “a clear vote of confidence” in the Cambridge developer and manufacturer of Versius, the globally successful surgical robot.
CMR is eyeing up a launch of Versius in the US after successfully closing the round. The new finance means that the company has raised a total of more than $1.19billion in funding across eight rounds since being incorporated in 2014.
Lord Vallance said: “This successful funding round of more than $200m is a clear vote of confidence in the company, the potential of surgical robotics, and in the UK’s life science ecosystem, which continues to produce innovative companies at an impressive rate.
“We will continue to back world-class innovation and companies like CMR Surgical as they realise their global ambitions and support the creation of high-quality jobs in the UK.”
The fundraising was supported by all the company’s existing major investors, plus a new debt investment from US-based Trinity Capital.
Rob Lake, senior managing director, Life Sciences at Trinity Capital, said: “Trinity Capital is excited to partner with CMR Surgical at this important juncture. CMR has established itself as a trailblazer in surgical robotics, with Versius already proving its value to surgeons and patients worldwide.
“We are confident in CMR’s vision and leadership, and our investment reflects our belief that Versius will continue to drive a new era in minimally invasive surgery. We look forward to supporting CMR as it continues to scale and transform surgical care on a global level.”
Versius is the world’s second most adopted soft tissue surgical robot, having been used in more than 30,000 surgical procedures globally, across specialties including colorectal, general, gynaecology, thoracic and urology surgeries.
The portable unit resets expectations of robotic surgery. Versius fits into virtually any operating room set-up and integrates seamlessly into existing workflows, increasing the likelihood of robotic minimal access surgery.
The Cambridge-based company continues to advance surgical robotics innovation and product development, including the launch of the newly enhanced Versius Plus.
CMR is also actively expanding its clinical footprint with two ongoing clinical trials: a pioneering paediatrics study, which is the world’s first multicentre prospective trial on the use of Versius in paediatric surgery, and a transoral robotic surgery (TORS) trial, further demonstrating the versatility and capability of Versius in new surgical applications.
Massimiliano Colella, CEO at CMR Surgical, said: “CMR is a competitive, well-established company with a transformative product providing clear clinical value.
“We are now at a pivotal stage, poised to capitalise on significant opportunities for market expansion, including in the US, while continuing to penetrate deeper into existing markets.
“I would like to give thanks to our CFO, Andre Nel, and the team for securing this financing to provide the foundation for realising our strategic vision of making robotic assisted surgery accessible to all patients who need it whilst accelerating future product development.
“I would also like to thank our investors for their support and look forward to delivering sustainable growth and life-changing solutions to the global healthcare community.”
