Bernese startup LEM Surgical has closed an oversubscribed series B round, raising CHF 22 million from new Swiss and US investors. The funds will propel the development of its robotic spinal cord surgery system and preparation for FDA submission.
About 18,000 new cases of spinal cord injury (SCI) are reported in the US annually, with an estimated 299,000 people living with SCI. SCI patients are at a higher risk of premature death. Surgical robots can improve the quality of life for SCI patients, but current technology still has limitations.
LEM Surgical is developing a next-generation robotic surgery platform, with its current focus dialled on the development and commercialisation of Sapien, its first robotic system for spine surgery. The company was established in mid-2021 by Prof. Dr. Stefan Weber (CEO, CAScination AG), Marco Matulic (CTO, CAScination AG), Simon Michel (CEO, Ypsomed Group), Prof. Dr. Andreas Raabe (Director, Department of Neurosurgery, Inselspital Bern) and Yossi Bar (previously Director R&D at Mazor Robotics Ltd).
With the proceeds from the oversubscribed series B round of CHF 22 million, LEM Surgical is well-positioned to advance its product development initiatives and readiness for FDA submission in the second half of 2024, to achieve its objectives and to solidify its potential in the field of surgical robotics. The round saw the participation of new investors from Switzerland and the US.
“Our goal is to revolutionise the experience for surgeons, clinical teams, and hospitals engaged in robotic surgery. We deeply appreciate the trust and support of our new investors. It underscores the unwavering confidence our investors have in the future success of our groundbreaking technology”, said Yossi Bar, founder and CEO of LEM Surgical.
(Press release/RAN)
Please login or sign up to comment.
Commenting guidelines