FlexDex Surgical Completes $5.0 Million Financing and Prepares for Commercial Launch
Brighton, Michigan – July 12, 2016 – FlexDex Surgical announced that it has completed a $5.0 million Series B financing. Financing was led by current investors and included the co-founders, board members, individual investors and distributors. Proceeds from the financing will be used to commercialize the Company’s first product, the FlexDex Needle Driver and fund development of a second generation device and a catalogue of instruments for laparoscopic surgery.
“We are very pleased to have so many successful business leaders and healthcare professionals participate in our financing. This financing will support our goal to provide enhanced dexterity instruments to every surgeon, in every operating room all over the world at an affordable cost” said Tom Davison, Chairman and Chief Executive Officer of FlexDex Surgical.
About Laparoscopic Surgery
Laparoscopic Surgery is the minimally invasive approach to abdominal surgery during which the abdomen is inflated with gas to create an operating space. Small incisions are made to accommodate an endoscope for visualization and long narrow surgical instruments. Laparoscopic surgeons require specialized training and years of experience to become proficient. Recently, robots have been introduced to facilitate advanced laparoscopic procedures with improved dexterity compared to traditional laparoscopic instruments. Surgical robots are very expensive ($millions) and require special training for surgeons and the operating room staff.
About FlexDex Surgical
FlexDex Surgical www.flexdexsurgical.comis developing the FlexDex platform to provide surgeons with high performance and cost effective minimally invasive surgical instruments. The company’s focus is to enable advanced minimally invasive procedures with greater precision and less fatigue. FlexDex was developed at the University of Michigan by co-founders Shorya Awtar, Sc.D., James Geiger, MD and Greg Bowles. This platform technology enables highly intuitive, one-to-one mapping of the surgeons arm and hand motions to the articulating instrument inside the patient’s body. The patented “Virtual Center™” of the FlexDex platform is a simple mechanical design that, we believe, will greatly enhance the capabilities of all Minimally Invasive Surgical (MIS) instruments and endoscopes.
Legal Disclaimer: These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease.
Thomas W. Davison, Ph.D.
Chairman & CEO