Wednesday, December 7, 2022

Ceros Financial Services Arranges $15MM Financing for Pristine Surgical

Ceros Financial Services announced that Ceros Capital Markets, its investment banking division, has completed a $15 million Series D (Series A4) financing round for Pristine Surgical. Pristine Surgical will apply the funding toward commercialization of its single-use visualization platform developed for surgical and diagnostic endoscopic procedures.

“Pristine Surgical has brought the endoscope into the 21st Century, improving the endoscopic procedure for both patient and surgeon,” said Mark Goldwasser, CEO of Ceros Financial Services.

Ceros Financial Services focuses on fundraising for early-stage medical technology and medical device companies that are developing disruptive technologies, particularly for diagnostic and non-invasive procedures.  The firm is targeting to raise $150 million this year, Goldwasser said.  Ceros completed $117 million in transactions in the medtech sector in 2021 and $145 million since 2020.

In 2021, Ceros co-led a $96 million financing round for Memic Innovative Surgery to support commercialization of Memic’s Hominis® robotic-assisted platform, which features miniature humanoid-shaped robotic arms designed to replicate a surgeon’s movements.

Other Ceros transactions include OrthoSensor, which has developed a sensor-assisted device that provides real-time data for post-operative care following knee surgery; Dermasensor, which designs non-invasive tools that use machine learning and spectroscopy to evaluate skin lesions for cancer; and Insightec, which uses guided focused ultrasound equipment for non-invasive brain surgery.  In November, Ceros announced a $17.14 million placement for Aquyre Biosciences, which has developed cellular imaging technology that produces biopsy images in under two minutes for analysis and diagnosis, replacing the several-day wait from a lab.

“We are focused on fundraising for early-stage medtech and medical device companies developing what we believe to be innovative and pioneering technologies, especially for diagnostic and non-invasive procedures.  The pandemic has accelerated acceptance of medtech and we think these emerging companies hold great promise for the future,” Goldwasser said.

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