July 20, 2022
Israel-based ForSight Robotics, which is developing ophthalmic robotic surgery, has announced raising $55 million in Series A funding to advance its ORYOM surgical platform for fully robotic cataract surgery. The flagship robotic platform will increase accessibility to ophthalmic surgery procedures worldwide, the company said.
The company said ORYOM has already been used successfully in multiple cataract procedures on an animal eye model by a number of ophthalmic surgeons. It plans to bridge the worldwide gap in the accessibility to eye surgery and help more than 1 billion people who suffer from preventable vision impairment and eye diseases. According to the U.S. National Institutes of Health, there are more than 25 million Americans who suffer from cataract and hundreds of millions of cataract patients around the world. ORYOM – which means “daylight” in Hebrew – uses cutting-edge technologies in microsurgical robotics, computer visualization and machine learning. The platform aims to automate the complex subtleties of ophthalmic surgery to treat the diseases underlying preventable blindness with an intuitive platform. ForSight said the platform has “superhuman submillimeter accuracy” – 10 times more accurate than the human hand.
“We are pleased to be able to advance our technology with this investment to bring robotics into the world of ophthalmic surgery to help millions of patients who have to wait unnecessarily for procedures while their eyesight deteriorates,” said Dr. Daniel Glozman, CEO and co-founder of ForSight Robotics. “Our goal is to democratize this highly sophisticated procedure, enabling patients around the world to easily access the treatment that can restore their vision.”
The company said ophthalmic surgery is intricate and complex, requires years to master and there is a shortage of skilled ophthalmic surgeons. Timely ophthalmic microsurgery can prevent many of the leading causes of blindness.
The funding round was led by the Adani Group, alongside existing investors Eclipse Ventures and MIthril Capital. New investors, including Provenio Capital, Precision Capital, Reiya Ventures, the Ljungstrom family office, and other prominent investors, joined the round. Previously, the company raised $10 million in seed round funding.
ForSight said it will use the funding to accelerate the development of the ORYOM platform in clinical trials, and is also working on other preventable ophthalmic diseases that can benefit from the accuracy of a robotics platform and advanced visualization, such as retinal diseases and glaucoma, among others.
“With the advancement of computing power, AI and miniature mechanics, better access to healthcare will be made possible,” said Dr. Joseph Nathan, co-founder of ForSight Robotics and the company’s chief business officer. “Our goal is to work with industry and surgeons across different geographies in order to benefit as many vision-impaired patients as possible.”
For more details on ForSight Robotics, visit its website here.