KB Medical SA, a surgical robotics company, announced today the successful closing of its oversubscribed Series B financing round for CHF 2.5 million. The round, led by Kinled Holding, further strengthens the company’s shareholder base which includes a group specialised in financing working capital for medical equipment, renowned surgeons and successful healthcare entrepreneurs; Kinled has significant expertise in medical/surgical M&A..
Jean-Marc Wismer, CEO KB Medical: “We are pleased to have completed this round with such strong private investors. Their skills and networks complement those of our current management team and investors. KB Medical is well-financed and plans to use the proceeds to complete the FDA approval process and the validation of upgrades for the AQrate System version 1.2.” KB Medical has developed a unique technology platform to perform robotassisted surgery - it combines the reach for spine, the strength for orthopedic and the accuracy necessary for neurosurgery.
The first product, the AQrate Robotic Assistance System for spinal surgery, has successfully completed clinical trial with spinal fusion surgery on 24 patients, is fully industrialized, received CE certification in June 2016, is currently in the FDA approval process, and will enter restricted commercialization during 2017. The company is adding further functionalities to its robot, including proprietary anti-skiving technology.
“KB Medical’s comprehensive technology platform, its extensive IP portfolio, very strong team and solid match with what Kinled can provide as an active investor, were amongst the main reasons for the investment decision", said Kinled Chairman Patrick Aisher. "There is a shared vision in the industry that spinal, orthopedic and neurosurgery will undergo disruptive improvements as major players combine navigation, robotics, instruments and implants as integrated solutions to enable new surgical approaches. KB Medical is very well positioned to play a major role in this evolution.”
About KB Medical
KB Medical SA, is a Swiss company focused on the design, development and commercialization of the AQrate Robotic Technology Platform for assisting surgeons with spinal, orthopedic and neurosurgery. The AQrate technology enables surgeons to widely employ minimally-invasive surgery to reduce complications, hospital stays and total costs. The AQrate System is backed by 31 patents, of which 6 have already been granted. KB Medical’s mission is to improve patient outcomes and quality of life, by enabling faster recovery and return to good health.
About Kinled Holding
Kinled Holding is the private Hong Kong-based investment vehicle of a prominent Anglo-Austrian family. Kinled has over 25 years’ experience in life sciences and technology investments, primarily focusing on early stage ventures. Nine of its portfolio companies have had an IPO on public markets. Kinled has previously assisted portfolio companies in the life sciences industry with licensing deals or selling their proprietary technology to some of the most significant players in the market including Becton Dickinson, Astra Zeneca, Novartis and most recently Medtronic. Kinled brings a very hands on approach to the management of its portfolio businesses and utilises its extensive network to help each portfolio business achieve its maximum value. The AQrate Robotic Assistance System manufactured by KB Medical SA is not yet market approved for use in the USA.
(Press release)
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