An opportunity exists for wholesale investors to register interest to invest in Memic Innovative Surgery Limited (“Memic”).
The company is in a process seeking the appropriate FDA approvals – the capital raise is subject to those approvals being received.
An overview of the company and its initiatives can be accessed in Documents as can a timeline of the FDA approval process.
Update January 2021. Not unexpectedly, the timeline for the FDA approval was impacted by Covid-19 issues. and delayed as a result. However, the company has communicated that FDA approval is now imminent.
Memic is seeking USD60m on a most recent pre-money valuation of USD150m, with proceeds to be applied to sales & marketing, R&D/ IP, clinical development & regulatory, manufacturing scale up and general costs
Memic has set out to transform robot-assisted surgery, with proprietary technology that has the potential to far surpasses today’s best solutions. This has been delivered by Memic’s Hominis™ which can provide unprecedented access and manoeuvrability. Its surgical platform features miniature, humanoid-shaped robotic arms with human dexterity, superhuman flexibility, and 360˚ articulation for various access configurations. It is dramatically smaller, more versatile and less costly than current robotic platforms and the technology opens up a host of minimally-invasive procedures that until now have been off-limits to robot-assisted surgery.
Some pipeline indications include abdominal single and multi-port surgery, as well as procedures performed in a trans-oral approach. Memic envisions a near future where numerous indications – and millions of patients – will benefit from these disruptive capabilities.
Maurice R. Ferré, MD has been appointed as chairman of Memic’s board of directors, following the company’s latest USD10m investment round. Signing on as a private investor, Mr. Ferré has over 20 years of experience in the medical device industry. He currently serves as CEO and chairman of the board of directors of INSIGHTEC, which delivers incisionless surgery using focused ultrasound guided by MRI.
A longtime innovator and entrepreneur, Dr. Ferré has founded and managed several world-leading companies in the field of precision, robotic, and image-guided surgery, making him ideally suited to chair Memic’s unique robot-assisted surgical technology.
Summary of Investment highlights:
- Transformational robotic surgery technology
- Technology developed and will be available at considerably lower cost to alternatives
- Proven, successful leadership team with track record of successfully developing and commercialising medical technology
- Capital invested subject to FDA approval
Update: As disclosed above, the capital raise is contingent on receipt of FDA approval. There is a small allocation available and with that approval imminent, the capital raise is expected to close sometime in February.
To visit Memic’s website click here.
The PPM will be made available on registration of interest.