Levita Magnetics Raises $26M to Advance Magnetic Robotic Surgery Platform
August 11,2022
Levita Magnetics, which develops magnetic-assisted robotic surgery systems, has announced raising $26 million in Series C funding. The company said it will use the new funds to support regulatory and near-term commercial efforts in the U.S. for its Magnetic-Assisted Robotic Surgery (MARS) platform.
The company said the MARS platform is designed to deliver clinical benefits for its Levita Magnetic Surgical System, which includes less pain, faster recovery and fewer scars for patients. In addition, the system provides improved visualization, enhanced surgeon control of instruments, and increased hospital efficiency, with fewer assistive personnel required to conduct procedures. With a compact footprint, the new robotic platform is designed for outpatient or same-day discharge procedures in high-volume abdominal surgeries. Levita said MARS aims to increase the volume of high-quality, efficiently performed procedures while also increasing access by making robotic surgery available across the care spectrum – from community to academic centers and by improving the patient experience.
Levita said more than 30 cases have been performed with the Levita Robotic Platform in a clinical trial in Chile, including obesity procedures (sleeve gastrectomy) and same-day discharge (ambulatory) cholecystectomies. In all of the cases, a reduced port technique was used, reducing the number of incisions for patients.
“We are thrilled to have the support of this premier group of forward-thinking investors as we take the company to the next level with our unique approach to surgical robotics,” said Dr. Alberto Rodriguez-Navarro, surgeon, founder and CEO of Levita Magnetics. “At Levita, we believe that everyone deserves the benefits of MARS, offering the potential for less pain, faster recovery, and less scarring. Our platform is poised to address the worldwide problem of limited access to better robotic surgery.”
The new financing was led by a healthtech investment group managed by Evan Norton, with participation from MedTex Ventures, as well as Invermaster and Carao Ventures, along with other returning investors. The company also announced the appointment of Maria Sainz as chairwoman to its board of directors.
“While the field of robotic-assisted surgery continues to grow, there is a need for new approaches that will empower surgeons to provide more timely access to needed surgeries,” said Norton. “We are extremely excited to support the company’s vision of expanding the use of robotics while allowing the best possible combination of traditional surgical techniques with robotic innovation and look forward to working with Levita to advance this innovative technology.”
For more details on the company, visit the Levita Magnetics website here.
