Memic Innovative Surgery Raises $96 Million

Tel Aviv, Israel and Fort Lauderdale, FL, April 12, 2021 - Memic Innovative Surgery (Memic), a medical device company dedicated to transforming robot-assisted surgery with its proprietary technology, today announced the closing of a $96 million Series D financing. The financing round was led by Peregrine Ventures and Ceros with participation from Ourcrowd and Accelmed. Funding will support commercialization of the Hominis® robotic-assisted surgical platform in the U.S. and potentially in other countries around the world as the company also plans to expand marketing and sales efforts outside the U.S. The financing will also support continued research and development efforts including expanding the company’s portfolio of products and manufacturing scaleup, as well as provide world-class customer support and training.

“The Hominis system represents a significant advancement in the growing multi-billion-dollar robotic surgery market. This financing positions us to accelerate our commercialization efforts and bring Hominis to both surgeons and patients in the months ahead,” said Dvir Cohen, co-founder and CEO of Memic.

The Hominis system received De Novo marketing authorization from the U.S. Food and Drug Administration (FDA) in February 2021 for use in single site, natural orifice laparoscopic-assisted transvaginal benign surgical procedures including benign hysterectomy. It is the first and only FDA-authorized surgical robotic platform that features miniature humanoid-shaped robotic arms that provide human level dexterity, multi-planar flexibility and 360 degrees of articulation. The biomimetic instruments are designed to replicate the motions and capabilities of a surgeon’s arms, with shoulder, elbow and wrist joints. Multiple instruments can be introduced to the body through a single portal and the 360-degree articulation offers obstacle avoidance as well as optimal access and working angles.

In addition to these features, the system will be sold at a significantly lower price compared to other marketed robotic surgery systems, potentially allowing more medical facilities including hospitals and ambulatory surgical centers to access and adopt surgical robotics.

“Memic is disrupting the market for Laparoscopic Robotic Surgery, which up to now been controlled by just one company that has nearly a 100% market share. Memic brings to the market a technology that entails a substantially improved surgical technique that is also significantly cheaper and capable of surgical procedures the competition is unable to conduct,” said Eyal Lifschitz, managing general partner of Peregrine Ventures. “Memic is on the road to implementing the vision of becoming a major global player that will enable surgeons to conduct safter laparoscopic procedures, that will be more precise, will lead to a more rapid recovery for those undergoing surgery, and that will also lead to billions of dollars in lower costs for hospitals around the world in the form of a substantial reduction in days of hospitalization.“

“We are grateful for the opportunity to work with management on this exciting milestone for both Memic and the field of robotic surgery,” said Mark Goldwasser, CEO of Ceros.