Silicon Valley-based Auris Surgical Robotics just raised $280 million in a Series D round, bringing its total funding to date to $530 million.
We believe based on current information that the company is building a robot that will alter the change the way in which lung cancer is treated.
The company was founded in 2007 by Federic Moll, a co-founder of Intuitive Surgical, manufacturer of the da Vinci surgical robot.
In 2016, Auris obtained FDA approval for its first medical robot, an endoscope to help treat lung conditions. Auris’s first robot is from a family of flexible robots that use the natural openings in human bodies rather than cutting into them.
A big part of the reason is the massive funding round has to do with the awesome success of Intuitive, which posted $2.7 billion in revenue in 2016.
Intuitive was granted FDA clearance for the da Vinci in 2000, however, at that time it was not clear as to how the medical community would adopt the new technology or how patients would react to it. But the robot rapidly showed its capability by reducing complications in many procedures including prostate removal.
Last year, Auris acquired Hansen Medical for $80 million, as part of its efforts to secure valuable patents relevant to robotic surgery. We see many more and much larger acquisitions in the medical robotics space going forward.