Microsure secures €38 million to advance its microsurgical robot, MUSA-3
- Revealing MUSA-3, designed to revolutionize the field of micro-surgery
- "Microsure's MUSA-3 represents a transformative leap for our field": Prof Neligan, prominent microsurgery expert, author of the standard handbook on Plastic Surgery
- Clinical studies in preparation for FDA clearance in the US and CE-mark in Europe
EINDHOVEN, The Netherlands, Oct. 4, 2023 /PRNewswire/ -- Microsure, innovation leader in robot-assisted microsurgery, announced today the successful closing of its Series B2 investment round securing €38 million in development capital. With this funding, Microsure will finalize the development of its newest microsurgical robot MUSA-3 for clinical studies, followed by FDA clearance in the USA and CE-mark in Europe. As part of this financing round, Kreske Nickelsen from new investor kineo will join the supervisory board, further strengthening Microsure's governance.
Microsure's groundbreaking microsurgical robot MUSA-3 is designed to revolutionize the field of open microsurgery, helping microsurgeons excel and leave no patient untreated. It represents a monumental leap in microsurgical technology, poised to empower surgeons with unprecedented precision, stability and control beyond human capabilities, elevating patient care to new heights in the future of microsurgery. Building on the success of MUSA-2, MUSA-3 offers enhanced dexterity and a wide workspace, tremor reduction for enhanced precision and seamless integration with surgeons' existing preferred micro-instruments of different well-known top brands. Its adaptability allows it to be used in a wide range of surgical procedures. MUSA-3 combines surgeon comfort with improved ergonomics, enabling surgeons to work from a surgeon console with digital exoscopes or hybrid surgical microscopes.
New and steadfast existing investors
The financing round welcomes a host of new investors, including the European Innovation Council Fund (EICF), kineo, Invest-NL, and several prominent private investor groups. Microsure also acknowledges the unwavering support of key existing shareholders including deep-tech venture capital firm Innovation Industries, BOM Ventures, private investors Ten Cate Investerings Maatschappij (TCIM), Venturing Tech, Eindhoven University of Technology (TU/e), and Microsure Founders. This fundraising not only solidifies Microsure's financial foundation but also reflects the confidence of all investors in the company's groundbreaking technology.
Microsure's commitment to innovation has also been recognized with an EIC Accelerator grant, and an Innovation Loan from RvO, a division of the Dutch Ministry of Economic Affairs, further affirming its pioneering role in the medical technology sector. Additionally, the company has entered into an asset financing agreement with kineo, enabling Microsure to offer appealing leasing options to hospitals adopting MUSA-3, Microsure's first commercial product.
Building on MUSA milestones
Building upon a legacy of excellence, Microsure is proud to highlight several clinical studies with the clinical prototype, MUSA-2. These studies, performed at Maastricht University Medical Center in the Netherlands and Uppsala Academic Hospital in Sweden include about 50 patients to date and encompass a wide spectrum of surgical indications, yielding promising results and invaluable insights for the development of MUSA-3. In addition, an in-vitro study in Uppsala featuring 20 microsurgeons performing over 200 anastomoses reveals a remarkably swift learning curve using MUSA. Other in-vitro studies underscore the ergonomic benefits for surgeons and also the benefits of the technology for neurosurgical applications.
Prominent microsurgery expert Professor Peter Neligan, author of the standard handbook on Plastic Surgery (5th edition, Elsevier, 2023), lauds Microsure's contributions to the field, stating:
"Microsure's pioneering innovations in the realm of microsurgery represent a transformative leap for our field. Their unwavering commitment to precision and their groundbreaking technologies have opened new horizons for microsurgical techniques. As someone deeply involved in advancing the frontiers of microsurgery, I wholeheartedly commend Microsure's remarkable contributions, which are instrumental in redefining our approach to complex procedures and significantly improve patient outcomes."
Svetoslava Georgieva, Chair of the EIC Fund Board, comments:
"We are glad to support Microsure through this investment round. We believe they can make a significant difference in the lives of patients in need of microsurgery. With the current funding round, we are confident that Microsure's team will be able to successfully introduce MUSA-3 to the EU markets."
Sjaak Deckers, CEO of Microsure, emphatically states:
"We extend our deep gratitude to both our new and steadfast existing investors for their unwavering support, which has propelled Microsure to new heights. The financing will enable us to advance our groundbreaking technology and bring innovative solutions to patients worldwide through our MUSA-3 robotic system."
"The tireless efforts of the Microsure team over the past years have culminated in the development of a truly unique robot celebrated for its precision, ergonomic design, and adaptability for a wide spectrum of intricate procedures."
"Our progress is a testament to the exceptional talent within our growing team of dedicated individuals and the seamless collaboration with our key development and manufacturing partners. The continued expansion of Microsure's clinical network strategically positions the company for upcoming clinical studies, an integral part of our journey towards securing FDA clearance and CE-mark certification."
About Microsure
Microsure is a pioneering medical technology company headquartered in the Eindhoven area, the Netherlands. Focused on transforming the landscape of microsurgery, Microsure specializes in the development of innovative robotic systems that redefine precision, versatility, and efficiency in surgical procedures.
Microsure was founded in 2016 by Eindhoven University of Technology TU/e and Maastricht University Medical Center and currently employs over 30 technical professionals. MUSA-3, the company's leading product under development, is designed in close cooperation with microsurgeons and engineers, specifically for microsurgical applications. MUSA-3 provides superhuman precision for microsurgeons, enabling new interventions that are currently virtually impossible to perform by hand.
Microsure builds on a network of clinical and technical advisors, including top surgeons from university medical centers worldwide, with the Maastricht University Medical Center+ as a leading clinical partner.
For more information, please visit Microsure's website: www.microsure.nl
About the European Innovation Council (EIC) Fund
The European Innovation Council Fund from the European Commission is an agnostic Fund; it invests across all technologies and verticals, and all EU countries and countries associated with Horizon Europe. It provides the investment component of the EIC Accelerator blended finance.
The EIC Fund aims to fill a critical financing gap, and its main purpose is to support companies in the development and commercialization of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding.
The Fund pays particular attention to the empowerment and support of female founders as well as the ambition to reduce the innovation divide among EU countries.
More info: www.eic.ec.europa.eu
About Invest-NL
Invest-NL is the National Financing and Development Institution of the Netherlands that, as an impact investor, focuses on making financeable what doesn't seem to be financeable. Together with other financiers, investors and development specialists — both private and public — Invest-NL's primary attention is on larger societal challenges like the transition to a carbon neutral and circular economy, affordable and accessible healthcare, and deep tech.
More information: www.invest-nl.nl
About kineo
kineo is a specialist in flexible asset financing for innovative growth companies with market-ready products and technologies. The asset financing solutions provided by kineo enable growth companies to market their products as recurring services ('as-a-service' business model), thereby achieving accelerated growth, faster market penetration and recurring revenues. The business was founded in 2016 and is active in Switzerland, the EU and North America.
More information: www.kineofinance.com
About BOM Ventures
Entrepreneurship is the driver of innovation. From sustainable food sources to a healthy future, climate-neutral energy, and developing promising key technologies, the Brabant Development Agency (BOM) ensures that startups playing a role in these fields get off to a flying start and grow into scaleups, that the right facilities are always available to Brabant-based companies, and that companies that aspire to go global can actually do so. Every year BOM works with dozens of companies to create this impact. BOM is an executive body of the Province of Brabant and the Ministry of Economic Affairs and Climate Policy.
BOM. Catalyzing Change.
More info can be found on: www.bom.nl
For further information please contact:
Microsure
Sjaak Deckers PhD, Chief Executive Officer
T: +31 (0)6 2249 0104
E: s.deckers@microsure.nl
For media:
LifeSpring Life Sciences Communications, Amsterdam
Leon Melens
T: +31 (0)6 538 16 427
lmelens@lifespring.nl
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