PARIS, FRANCE / ACCESSWIRE / July 2, 2020 / MastOR, a medical device company developing a surgical robot for laparoscopy assistance, announced today a €3M equity round through a seed investment from the Sofinnova Partners MD Start III Fund, as well as an additional €1.9M in non-dilutive funding through the i-Nov Innovation Award from BPI France, the French national public investment bank. The funding will be used to advance MastOR's laparoscopy assistance platform, which broadens access to minimally-invasive techniques for surgeons and optimizes resource utilization in the operating room.
MastOR is an early-stage surgical robotics company founded by Professor Brice Gayet and Pierre Campredon in 2019, based on science and technology that was developed at the ISIR robotics lab at Paris' Sorbonne University.
"We are delighted to join the Sofinnova Partners' portfolio and work with experienced medtech entrepreneurs from the Sofinnova MD Start team to bring our concept to patients and surgeons around the world," said Prof. Gayet, Professor of Digestive Surgery at Paris Descartes University Medical School and former Head of Digestive Surgery at the Montsouris Institute in Paris.
The seed and grant funding will be used for prototype development and pre-clinical validation. "Every step of the development, every part of our solution is derived from patient-, surgeon- and operating room staff-specific inputs aimed at improving the operational practice," said Anne Osdoit, Partner at Sofinnova Partners and Chief Executive Officer of MastOR. "We are striving to build an essential tool for laparoscopy surgeries in the near future."
MastOR leverages the power of surgical robotics and existing laparoscopy instruments to offer a ubiquitous, affordable and modular platform delivering pristine surgical assistance in minimally-invasive digestive procedures. The simplicity and the lightness of the haptics-enhanced device enables surgeons to manipulate it seamlessly, without having to leave the patient's bedside.
MastOR SAS is a Paris-based, early stage medical device company, developing a surgical robot for laparoscopy assistance. It is a privately held portfolio company of Sofinnova Partners, financed through the MD Start III Fund. The core technology is derived from joint research between the ISIR robotics lab at Sorbonne University and Professor Brice Gayet, a world-renowned surgeon and pioneer in minimally-invasive surgery. For more information, please visit: www.mastor-surgical.com
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, with offices in London and Milan, the firm brings together a team of 40 professionals from all over Europe, the U.S. and Asia. The firm focuses on paradigm-shifting technologies alongside visionary entrepreneurs. Sofinnova Partners invests across the Life Sciences value chain as a lead or cornerstone investor, from very early-stage opportunities to late-stage/public companies. It has backed nearly 500 companies over more than 48 years, creating market leaders around the globe. Today, Sofinnova Partners has over €2 billion under management. For more information, please visit: www.sofinnovapartners.com
About Sofinnova MD Start III
Sofinnova MD Start III is committed to creating and accelerating companies that offer revolutionary solutions for unmet medical needs. It builds on the success of MD Start I and MD Start II which proved the validity of the concept. Sofinnova MD Start III has privileged access to breakthrough technologies in healthcare through its network of scientists and experts from prestigious research and development centers around the world. MD Start has successfully launched over nine companies that focus on bridging the gap between patient care and medical device innovation. Learn more here.
Anne Osdoit, CEO, MastOR
SOURCE: Sofinnova Partners