Ganymed Robotics Team | Image credit: Ganymed Robotics
Based in Paris Robotics Ganymedea developer of computer vision software and robotic technologies for orthopedic surgeons, announced on Thursday that it raised €21 million in the first close of its oversubscribed Series B funding round.
The round was led by Cathay Health, with participation from Crédit Mutuel Innovation, Kurma Partners, BNP Paribas Développement and internationally renowned surgeons.
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Developing robotic assistance technologies for orthopedics
Founded in 2018 by Sophie Cahen, Ganymed Robotics claims to work closely with leading international surgeons to develop a new approach to surgical robotics.
The company’s mission is to empower surgeons and healthcare centers to make orthopedic surgery safer, more reliable, accessible, surgeon-centered and more effective for everyone. He believes advanced technology holds part of the solution.
“We are designing the next generation of surgical assistants and smart tools, enabling the use of computer vision, robotics and AI in the operating room to plan, execute, monitor and continuously improve patient-specific procedures,” the company says.
Ganymed Robotics’ first application is a co-manipulated robotic surgical assistant for total knee arthroplasty (TKA). According to the company, this device is the first compact and intuitive robot fully integrated into the workflow, and which simplifies and increases the precision of orthopedics.
TKAs are expected to increase in OECD countries from 2.4 million procedures currently to 5.7 million in 2030. Today, 95% of orthopedic surgeries are performed without technological assistance, leading to results under -optimal. This translates into a patient dissatisfaction rate of over 20%.
Ganymed Robotics has also developed a robot-with-eyes platform that improves surgeons’ ability to see beyond the naked eye and perform the “perfect” gesture. The company’s custom-designed co-manipulated arm embeds a wide range of multimodal sensors to perceive and interpret the surgical scene in actionable ways.
Co-founder Sophie Cahen says, “With our unique robotic platform, we are committed to providing all surgeons and care centers, large and small, with an easy-to-use, cost-effective solution that will radically improve patient health. outcomes, surgeon experience, and overall effectiveness of joint replacement procedures. »
In addition, Ganymed Robotics intends to gradually deploy its technology to address several other orthopedic indications.
Use of capital
Ganymed Robotics says it will use the funds to support its expansion plans in France and the United States, complete the commercialization of its robotic surgical assistant for knee arthroplasty (ATG), accelerate regulatory and marketing developments in all geographic areas and diversify the pipeline of innovative products.
The company, since its inception in 2018, has grown rapidly. It has validated its proprietary algorithms, collected “unique” in vivo data through an observational study of 100 patients, completed testing of functional prototypes, launched the industrialization of its first device specifically for TKA through strategic partnerships with manufacturers, and secured a strong patent portfolio in collaboration with top clinicians.
Cathay Health, affiliated with Cathay Capital, is a global fund that invests in the convergence of healthcare, life sciences and technology. A €500m multi-stage fund, it supports venture capital and growth-stage companies across Europe, North America and Asia whose technology solutions are catalyzing breakthrough advances in medicine. .
Crédit Mutuel Innovation is the VC subsidiary of Crédit Mutuel Equity with €3.5 billion in capital under management, which is part of Crédit Mutuel Alliance Fédérale. It invests tickets between €1m and €20m in companies in the digital, life sciences and deeptech sectors.
Kurma Partners is a European venture capital group specializing in healthcare with 700 million euros under management. It has three franchises: Kurma Diagnostics, focused on diagnostics and digital health; Kurma Biofund, focused on therapeutics (current active fund KBIII); and more recently, Kurma Growth Opportunities, covering both sectors in later stage investments. Kurma Partners is part of the Eurazeo group.
BNP Paribas Development is an independent subsidiary of BNP Paribas. Its mission is to support management teams in carrying out medium-term strategic projects. As a minority shareholder, the firm provides its partners with appropriate governance without interference in day-to-day management. They also benefit from the strength of a leading banking group and the experience of a partner with more than 400 diversified investments, including 70 startups.
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