Following the successful start of clinical trials, the investment will enable CMR to speed development and commercialisation of its medical robotic technology and to expand the team in preparation for regulatory approval. Amongst those backing the company are ABB Technology Ventures, LGT Global Invest and Cambridge Innovation Capital (CIC).
Martin Frost, CEO of CMR, said: “I’m delighted to announce the support and endorsement of these leading international investors. The financing enables us to increase our engagement with our target market and prepare for commercialisation. We welcome the decision of ABB, a global leader in robotics, to cooperate with CMR in areas ranging from component sourcing to manufacturing as we now enter a critical phase in production and commercialisation.”
CMR’s modular system uses 3D high definition imagery, along with enhanced flexibility and force feedback to provide surgeons with what it says is ‘life like’ sensitivity.
The system is said to overcome obstacles to the widespread adoption of robotic minimal access surgery – including size, versatility and ease of use – and to be ‘cost comparable’ to manual laparoscopic surgery.
Dr Robert Tansley, pictured, healthcare investment director with CIC noted: “Cambridge is recognised as a world class cluster for both life sciences and technology. We are very excited to support a next generation leader in the rapidly expanding field of surgical robotics.”
