The funding will drive first-in-human and regulatory clearance of the company's robotic platform to precisely steer wires and catheters through vasculature using electromagnetic fields.
ZURICH, SWITZERLAND / ACCESSWIRE / February 8, 2023 / Nanoflex Robotics AG, a pioneer in magnetically controlled medical soft robotics, today announced that it has achieved an initial $12 million in funding. Nanoflex Robotics will use the funding to bring its first-generation system to market and to accelerate development of new neuro-interventional products. A first-in-human trial and FDA submission is planned for Q3 2023.
The financing round is led by Ascend Capital Partners, an international venture capital firm focused on investments in MedTech and Mobility early-stage tech companies. The financing round is supported by European based family offices, including Kinled Holding Ltd, an experienced medical device/robotics investor with a significant track record of identifying successful spin outs from EPFL/ETH, and Mountain Labs AG, an incubator specialized in funding innovative technology.
"Nanoflex Robotics aims to revolutionize catheter-based treatment of neurovascular and vascular disease by enabling faster and safer access to target sites in the vasculature. Our robotic system allows precise and flexible steering of magnetically-adapted guide wires and catheters, while potentially decreasing X-ray exposure for the physician," said Matt Curran, CEO of Nanoflex Robotics AG. "We are excited to partner with Ascend Capital Partners, Kinled and Mountain Labs to make our goal of safe remote treatment for acute ischemic stroke a reality. "Nanoflex Robotics was founded in Zurich in 2021 by Prof. Bradley Nelson, Dr. Christophe Chautems and Matt Curran. Its proprietary technology to generate and control electromagnetic fields for endovascular navigation of magnetic devices is based on over 20 years of research at ETH Zurich, the Swiss Federal Institute of Technology. The project continues to receive support from ETH Zurich and Wyss Zurich.
Jerry Hong, CEO of Ascend Capital Partners, who will join the board of directors, commented: "We are excited to support this exceptional team in reinventing the surgical robotic space with remote vascular interventions. We especially recognize its potential to achieve more equitable patient access to timely mechanical thrombectomies, which are very effective for preserving the post-stroke quality of life for patients."
Nanoflex Robotics' first product will be a compact and mobile electromagnetic field generator that can easily be moved between hospital interventional suites, requiring no additional infrastructure beyond a high voltage electrical point and access to a water-based cooling system. The system allows direct tip control of magnetically adapted interventional devices, in contrast to conventional procedures where torque must often be transferred more than a meter down the length of devices to control tip direction.
About Nanoflex Robotics
Nanoflex Robotics, a Zurich (Switzerland) based MedTech start-up, has developed a proprietary robotic platform to navigate magnetic devices in complex vascular anatomy using precise electromagnetic fields. Its portfolio of products is intended to diagnose and treat vascular disease, including acute ischemic stroke, in a timely and safe manner. For more information, please visit Nanoflex Robotics.
Investors & supporters
Ascend Capital Partners is a leading international venture capital and financial advisory firm committed to working with innovative companies who have potential to grow and expand internationally, particularly in Europe, Asia, and the United States. With extensive regional and international networks and insight into Chinese and Western capital market worlds, Ascend has set itself apart from other pure advisory firms and pure private equity funds. For more information, please visit Ascend Capital Partners.
Kinled Holding is a partner in four dedicated life science investment companies based in Boston, Vienna, Gibraltar and Zurich, with combined Assets under Management of $250M. Kinled Holding and the Aisher Family have long believed in fostering academic projects to become commercial businesses. The company has exited 19 investments via IPO and a further dozen through trade sales to strategics such as Astra-Zeneca, Medtronic, Globus and J&J. For more information, please visit Kinled.
Mountain Labs is an incubator that focuses on early-stage technology investments in Switzerland and Austria. They assist other like-minded family offices and investment companies to better understand the risks and opportunities of investing in early-stage tech and FinTech and have developed a strong network of relationships with national universities and technology transfer offices. For more information, please visit Mountain Labs.
The Wyss Zurich Translational Center (Wyss Zurich) is a joint accelerator of the University of Zurich and ETH Zurich (Swiss Federal Institute of Technology Zurich), which was made possible by a generous donation from the Swiss entrepreneur and philanthropist Dr. h.c. mult. Hansjörg Wyss. It was established to foster translational research focused on developing treatment protocols and clinical therapies, as well as novel technologies and intelligent systems, in the emerging fields of regenerative medicine robotics, and hybrid technologies thereof. Wyss Zurich unites world-leading experts from both institutions in multidisciplinary teams, pooling their knowledge and expertise. For more information, please visit Wyss Zurich.
Investors: Matt Curran, [email protected]
Media: Tamara Willauer, [email protected]
SOURCE: Nanoflex Robotics