University of Michigan has further supported its spinout FlexDex Surgical with an investment in a series AA round through Mints and Michigan Biomedical Venture Fund.
FlexDex Surgical, a US-based developer of minimally invasive surgical technology based on research at University of Michigan, has closed a $13m series AA round backed by the institution’s Michigan Biomedical Venture Fund and Mints vehicle, according to Surgical Robotics Technology.
Johnson & Johnson Innovation – JJDC, a subsidiary of medical product group Johnson & Johnson, and Almeda Ventures co-led the round, which also included insurance provider Hylant, Consensus Business Group, Nirvana Serial Stage Investment Partners and individuals.
FlexDex is commercialising robotics-inspired laparoscopic instruments for minimally invasive surgeries. The cash has been allocated to fund the development of its articulating needle driver for endoscopic suturing and a full suite of laparoscopic instruments with robotic functionality.
Limor Sandach of Almeda and an unnamed representative of JJDC will be appointed to the spinout’s board of directors.
FlexDex had secured $2.3m in series A funding in 2014, $5m in a…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
