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Kinova signed a five-year contract extension with Auris Health. As part of the agreement, Kinova will continue to support Auris in the expansion of its Monarch Platform that is designed for robotic-assisted surgery. The deal includes an option to extend the partnership for an extra three years.
Auris Health and Kinova have had a partnership since 2015. Kinova, a Canadian company that specializes in robotic arms, worked with the team at Auris to define and develop a purpose-built robotic arm to help enable meaningful progress in surgery. The Monarch Platform is designed to be used in diagnostic and therapeutic bronchoscopic procedures.
“An important part of Kinova’s vision is to use medical robotics for optimal patient outcomes and enable humans in the process with better tools. We have worked with the Auris team to advance the development of disruptive robotic solutions for the last 6 years, and we are excited to continue our strategic agreement to help advance the frontier of surgery,” said Charles Deguire, CEO & co-founder of Kinova. “The Monarch Platform demonstrates perfectly Kinova’s capacity to support the robotization, through strategic partnerships and collaborative efforts, of global leaders in the medical device space. Robotics has evolved, there’s this new generation of connected and integrated robots, and we are committed to enabling companies to take full advantage of it.”
Earlier in February 2022, Kinova raised $48 million in funding. The funding will be used to accelerate the development and commercialization of Kinova’s solutions. It will also use the funds to augment engineering resources to meet the demands of global customers.
The funding was raised over two separate closings. A $32 million investment was led by Graham Partners with the participation of Export Development Canada. Another $16 million closing was led by the Government of Canada under the Strategic Innovation Fund.
Founded in 2006, Kinova makes a variety of robotic arms that are used in applications such as medical robotics, assistive robotics, research and education, and more recently industrial and professional automation. Kinova said new products for the industrial markets will be announced later in 2022.