Virtual Incision Corp. raised $2 million in a Series A funding round.
The surgical robotics developer said the financing will be used to develop prototypes for its single-incision laparoscopy device platform.
Virtual Incision said its technology employs existing surgical tools and techniques that surgeons are already familiar with, and plans for colon resection procedures to be its device’s first application.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
The company also announced the establishment of its headquarters in Lincoln, Nebraska, not far from the University of Nebraska, through which the company exclusively licenses its technology. The company’s founders, Shane Farritor and Dr. Dmitry Oleynikov, are both professors at the school.
The funding round was lead by Sioux Falls, South Dakota-based PrairieGold Venture Partners and Bluestem Capital Company LLC, according to the company.
The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
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