BRIGHTON – Medical device maker FlexDex announced Monday it has completed a $13 million Series AA funding round for next generation advanced laparoscopic devices.
The financing will be used to fund development of the Company’s next generation articulating needle driver for endoscopic suturing and a full suite of advanced laparoscopic instruments with robotic functionality.
The devices will be used alongside hospitals’ existing MIS set-up, without the need for a large capital investment, and will provide surgeons with the advantages of robotic surgery, such as increased precision, dexterity, intuitive control and ergonomic benefits, at a low-cost comparative with traditional laparoscopic instruments.
FlexDex’s first-generation needle driver has been called a ‘game changer’, by enabling surgeons to tackle a greater number of complex surgical procedures via a minimally invasive approach, bringing benefits to patients in over 25 countries across the world.
“Our Engineering team has made great advancements in the design of our next generation devices, that build on the successes and experiences gained with the first generation FlexDex Needle Driver,” said Dr James Geiger, Co-Founder and Chief Executive Officer of FlexDex.
“FlexDex technology bridges the gap between traditional laparoscopy and robotic precision,” said Michigan General Surgeon Dr. Kent Bowden, who in a press release said he has completed more than 500 procedures with the first-generation FlexDex needle driver.
The financing was led by Johnson & Johnson Innovation – JJDC and Almeda Ventures, an Israeli health-tech focused public research and development partnership which invests in digital health, medical device and bioconvergence companies.
Other investors include Hylant, the University of Michigan venture investment program MINTS, Michigan Biomedical Venture Fund, Consensus Business Group (CBG), Nirvana Serial Stage Investment Partners and additional individual investors.
As part of the investment, Limor Sandach, Almeda Venture Advisor, will be appointed to FlexDex’s Board of Directors, along with an appointee from JJDC.
