Levita Magnetics stated it has raised $26 million to fund regulatory and industrial progress on its Magnetic-Assisted Robotic Surgical procedure (MARS) platform.
The Menlo Park, California-based robotic surgical procedure system developer additionally appointed Maria Sainz as chair of its board of administrators.
The MARS platform is designed to assist surgeons carry out extra high-volume stomach procedures utilizing fewer incisions and fewer personnel.
Levita received FDA de novo classification for its Levita Magnetic Surgical System in 2015. That handheld machine makes use of a magnet positioned exterior of a affected person’s stomach to regulate a magnetic grasper contained in the physique throughout surgical procedure, requiring just one incision as an alternative of two.
The machine requires somebody to carry the exterior magnet whereas the surgeon is working, however the brand new MARS platform assists with the exterior magnet and offers the surgeon extra management and visibility. The system has a compact footprint meant for outpatient or same-day discharge procedures.
Levita announced the first procedures with its MARS system in July 2021. The corporate now says greater than 30 procedures have been carried out with the investigational system in a scientific trial in Chile, together with sleeve gastrectomy and same-day discharge cholecystectomy procedures.
“The disruptive strategy leveraging Levita’s core proprietary magnetic know-how inside a robotic platform has huge potential in altering the best way surgical procedure is carried out at a world scale,” Sainz stated in a information launch. “I’m enthusiastic about Levita’s compelling imaginative and prescient and look ahead to supporting the corporate because it begins its subsequent chapter.”
Sainz replaces Glen French as Levita’s board chair, a job he held for practically a decade. The corporate stated French moved to an advisory function for the board.
Levita stated its Sequence C funding spherical was led by a “healthtech funding group managed” by Evan Norton however didn’t identify the group. Norton identifies himself on LinkedIn as a managing partner of healthcare growth equity and venture capital investment firm Ballast Capital, and public data present an entity referred to as Ballast Capital Levita LLC was included earlier this 12 months.
MedTex Ventures, Invermaster and Carao Ventures additionally participated within the funding spherical.
“We’re thrilled to have the help of this premier group of forward-thinking buyers as we take the corporate to the subsequent degree with our distinctive strategy to surgical robotics,” Levita Magnetics founder and CEO Dr. Alberto Rodriguez-Navarro stated in a information launch. “At Levita, we consider that everybody deserves robotics, and our robotic platform is poised to resolve the massive drawback of restricted entry worldwide to robotic surgical procedure.”