Surgical device maker Transenterix raises $50 million from IPO

Transenterix raised $50 million from an IPO and market switch which transferred their stock from the over-the-counter market to the special small-cap MKT Exchange on the NYSE.

The maker of the SurgiBot System to enhance laparoscopic surgery through robotic assistance, a system that is presently awaiting FDA approval, plans to use the funds to ramp up a sales force to market the new system.

The SurgiBot System enables the surgeon to remain aside the patient while performing the surgical procedure. The system augments the surgeon to enable scalable motion and to control multiple instruments and camera. The new system integrates 3D hi-def monitors so that the whole operating room is privy to the operation. A steerable chip-on-tip vision allows the surgeon to adjust and control the image.