Approval, Clinical Use, Funding: Fortimedix Surgical Raises €11M for Commercial Launch

Fortimedix Surgical has completed an €11M Series A funding round which will support the EU and US launches of its FMX314 single-port surgery system.

Background

FMX314 is the first single-port platform that is compatible with a standard 15mm laparoscopic trocar, promising fewer port-site complications, less post-operative pain, faster recovery and exceptional cosmesis compared with conventional multi-port laparoscopic surgery. FMX314 emulates conventional, multi-port laparoscopy, making it easy to use and enabling surgeons to perform procedural steps ergonomically, allowing for a comfortable and secure single-port approach.

Two weeks ago the FMX314 system gained CE mark approval. Last week it was used in the US for the first time. This week, the news is that the company has brought in $11m that will be used to fund the launch of the device. FMX314 will be formally launched in the U.S. during the American College of Surgeons (ACS) Clinical Congress, taking place October 16 – 20, 2016 in Washington, D.C. with the European commercial launch planned for 2017.

The funding round was led by Chemelot Ventures, a Netherlands-based, venture capital firm focused on investing in smart materials and life sciences, along with participation from all existing shareholders.

Company comments

for Chemelot Ventures 

“We are proud to partner with Fortimedix Surgical as it launches FMX314, which we believe can deliver on the promise of single-port laparoscopic surgery,” commented Casper Bruens, Managing Director of Chemelot Ventures. “Since 2004 our firm has been involved with Fortimedix, a global leader in the field of endovascular stents, the company from which Fortimedix Surgical emerged in 2012. We have gained tremendous trust in the company’s leadership and are confident Fortimedix Surgical will achieve the ambitious commercial milestones for FMX314 as planned.”

for Fortimedix Surgical 

“We are excited to have Chemelot Ventures as an investment partner in our company, as we rapidly advance to commercialize FMX314 in key markets around the world,” said Mr. Wout Bijker, CEO of Fortimedix Surgical. “Following the recent 510(k) FDA Clearance in the U.S. and CE Mark Approval in Europe, this funding round represents another significant achievement that further enables us to offer the innovative FMX314 Surgical Platform to patients and healthcare communities around the world.”

Source: Globe Newswire

Share your thoughts

Your email address will not be published. Required fields are marked *