The Carina surgical robot platform. | Source: Ronovo Surgical
Ronovo Surgical this week announced that it has closed a Series B funding round worth $44 million to commercialize its Carina Platform in the Chinese market and prepare for international expansion. The Shanghai-based company has developed technologies for soft-tissue procedures.
Shanghai-based Ronovo aims to use the funds to accelerate the commercialization of the proprietary Carina platform. It hopes to bring the robot to the Chinese market and set the stage for international expansion.
Carina is configurable for multiple procedures
Ronovo Surgical said it built Carina to enable configurable robotic assistance for laparoscopic surgeries across multiple specialties. The company developed the modular system with experienced Chinese laparoscopic surgeons.
Carina addresses numerous pain points in minimally invasive surgeries. Ronovo claimed that it provides surgeons with the flexibility to choose the best instruments and the most ideal anatomical access.
Surgeons can flexibly configure the systems to optimize anatomical reach and access, as well as surgical workflow. Carina has up to five bedside modules, which can be adjusted depending on the needs of the procedure.
“Taking Carina from concept design to completion of human clinical trial in three years is the result of our clinical-driven approach toward engineering, practicality in design decisions and the remarkable dedication of our team,” said Ying Mao, chief technology officer and chief operating officer of Ronovo Surgical. “Along the way, we built out a multi-product portfolio that features surgical robotics, functional vision, and a full suite of surgical instrumentation – backed by more than 100 patent applications.”
Ronovo recently completed a clinical trial that included urology, gynecology, thoracic, and general surgery patients. The company now expects to obtain regulatory approval in China and begin commercialization in early 2025. It also plans to build a 130,000-sq.-ft. (12,077 sq. m) facility to support its launch efforts.
In addition, Ronovo recently launched its first international site — the Ronovo Institute of Surgical Excellence (RISE) in Orlando, Fla. The company said it established RISE to deepen clinical collaboration with top international surgical experts and medical societies.
Investment, innovation focus on Ronovo expansion
Guolian Capital and INCE Capital co-led Ronovo Surgical’s latest round, with participation from King Star Med and existing shareholder LongRiver Investments.
“Securing this round of financing from such an esteemed group of investors, despite challenging capital market conditions, is a significant acknowledgment of our vision, mission, and the execution of the team,” said John Ma, CEO of Ronovo Surgical. “Our innovation efforts for developing Carina have been laser-focused on expanding its application across multiple specialties, reducing the learning curve, and improving cost-effectiveness.”
Last September, the company raised $26 million, adding to a February round that came along with the unveiling of the Carina platform.
Editor’s note: This article is syndicated from The Robot Report sibling site MassDevice.
Wonderful news. One of the factors that keep people living in a certain place is the availability of quality health care. The day you can have Harvard-quality surgery in a Third World country nobody will want to deal with First World prices.