Levita Magnetics secures $26 million to advance disruptive surgical robotic system

MENLO PARK, Calif.–(BUSINESS WIRE)–Levita Magnetics, whose mission is to provide patients with better access to better surgery, today announced the closing of its $26 million Series C funding, which will be used to support regulatory efforts and short-term sales contracts in the United States for its Magnetic Assisted Robotic Surgery (MARS) Platform. The funding was led by a health technology investment group managed by veteran investor Evan Norton, with participation from MedTex Ventures, as well as Invermaster and Carao Ventures, among other returning investors. . The company also announced the appointment of Maria Sainz as chair of its board of directors.

The MARS platform is designed to deliver the clinical benefits of the company’s first commercial product, the Levita Magnetic Surgical System®including less pain, faster recovery and less scarring for patients.1 Additional benefits of MARS include the potential for improved visualization, better surgeon control of instruments, and increased hospital efficiency, with fewer support staff required to perform procedures. With its compact footprint, the new robotic platform is designed for outpatient or same-day discharge procedures in high-volume abdominal surgeries. MARS aims to increase the volume of high-quality, efficiently performed procedures while increasing access by making robotic surgery available across the spectrum of care – from community to academic centers and improving the patient experience.

To date, 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 cholecystectomies (outpatient). In all cases, a reduced port technique was used, reducing the number of incisions for patients.

“We are thrilled to have the support of this first group of forward-thinking investors as we take the business to the next level with our unique approach to surgical robotics,” said Dr. Alberto Rodriguez-Navarro, surgeon, founder and CEO of Levita. Magnetic. “At Levita, we believe everyone deserves the benefits of MARS, offering the potential for less pain, faster recovery, and less scarring. Our platform is poised to solve the global problem of limited access to better robotic surgery.”

The new President, Maria Sainz, has over 25 years of experience in the medical technology industry, including serving as President and CEO of AEGEA Medical, Cardiokinetix and Concentric Medical. She is also a board member of Shockwave Medical (SWAV), Avanos Medical (AVNS), Hyperfine (HYPR), Atrion Corporation (ATRI) and Tissium.

“The disruptive approach leveraging Levita’s proprietary magnetic technology within a robotic platform has enormous potential to change the way surgery is performed globally,” said Sainz. “I am excited about Levita’s compelling vision and look forward to supporting the company as it embarks on its next chapter.”

“As the field of robot-assisted surgery continues to grow, there is a need for new approaches that will allow surgeons to provide faster access to needed surgeries,” said Evan Norton. “We are extremely excited to support the company’s vision to expand the use of robotics while enabling the best possible combination of traditional surgical techniques with robotic innovation and look forward to working with Levita. to advance this innovative technology.”

About the Levita MARS Platform

Levita’s Magnetic Assisted Robotic Surgery (MARS) platform is designed to improve procedural efficiency and quality in high-volume abdominal surgeries, improving surgical access to patients and enabling a less invasive approach with fewer incisions, while allowing the surgeon full control of the platform and the surgical instruments directly next to the patient. The MARS platform is an experimental system. It is not available for sale in the United States and has not been cleared by the Food and Drug Administration (FDA).

About Levita

Based in Silicon Valley, Levita Magnetics was founded by innovator and surgeon Dr. Alberto Rodriguez-Navarro. Its proprietary technology is designed to advance minimally invasive surgery with the goal of improving access to robotic surgery for more patients. For more information, visit www.levita.com.

1. Welsh LK, et al. Magnetic liver retraction decreases postoperative pain and length of stay in bariatric surgery compared to the Nathanson device. J Laparoendosc Adv Surg Tech A. 2021 31(2):194-202

Christine E. Phillips