New View Surgical, Inc. announced that it closed its Series A Financing Round at $2.5 million. The financing was over-subscribed due to investor demand. New View Surgical will deploy the financing to complete the development of its VisionPort™ System, expand the company’s intellectual property portfolio and submit a 510(k) U.S. Food and Drug Administration (FDA) filing.
“We are very pleased to have closed our Series A financing and are encouraged by the confidence shown by our investors, including individual members from New York Angels, Mid-Atlantic Bio-Angels, Keiretsu Forum and Ariel Southeast Angel Partners, among others,” said Bryce Klontz, President & Chief Executive Officer at New View Surgical. “Most importantly, we’re leveraging this capital to bring a surgical technology to market that supports our overall mission to decrease cost, improve surgical imaging and increase access to minimally invasive surgical procedures for patients around the world.”
“I am very excited about the efficiency and progress made by the team at New View Surgical,” said David Earle, MD, FACS, Director of the New England Hernia Center, Associate Professor of Surgery at Tufts University School of Medicine, and Scientific Advisory Board member of New View Surgical. “Not only will this technology allow more patients to access minimally invasive surgical techniques, it will make many high-volume cases easier for surgeons to perform.”
New View Surgical’s initial device, the VisionPort™ System, is a novel surgical imaging and access system for minimally invasive surgery that aims to simplify laparoscopic procedures across all specialties by reducing the need for a separate camera port and camera holder and allowing multiple simultaneous views of the operative field. In emerging markets, the VisionPort™ System will greatly reduce the capital-intensive equipment currently required to perform minimally invasive surgery, and thus, allow access to the latest in surgical techniques where it is currently unavailable. Dr. Earle stated, “the VisionPort™ System allows the surgeon to control the scope and keeps the tip of the instruments within the field of view at all times. This has significant potential to make the operation easier for the surgeon and may reduce risk to the patient as well. Furthermore, having multiple simultaneous views of the operative field allows for different viewing angles that were previously possible only by removing the scope and moving it to another port. Moving the scope frequently smudges the scope, creates condensation on the lens, causes frustration and wastes time. The elimination of the camera port and an assistant to hold the scope means surgeons and hospitals can be more efficient by accommodating more procedures, which is good for the surgeon, the facility, and most importantly, the patient.”