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Jupiter Endovascular is working to develop a brand new class of endovascular procedures utilizing Endoportal Management. | Supply: Jupiter Endovascular
The power to robotically steer catheters can enhance endovascular procedures, in line with medical machine suppliers. Neptune Medical yesterday introduced $97 million in Sequence D financing and the launch of subsidiary Jupiter Endovascular Inc.
“Neptune Medical is thrilled to announce the profitable closure of our Sequence D financing and the spinout of Jupiter Endovascular,” acknowledged Alex Tilson, founder and CEO of Neptune Medical.
“These important milestones permit us to sharpen our give attention to GI [gastrointestinal] robotics whereas empowering Jupiter to drive innovation in endovascular remedies,” he added. “We’re grateful to our traders for his or her unwavering help and confidence in our imaginative and prescient.”
Neptune Medical’s foray into the robotics house was bolstered by the current appointment of surgical robotics pioneer Dr. Fred Moll as chair of its board. The shift additionally permits Jupiter Endovascular to focus by itself expertise platform, mentioned the Burlingame, Calif.-based firm.
“The spinout of Jupiter Endovascular is a strategic transfer that aligns with our long-term targets,” mentioned Moll. “With devoted assets and management, Jupiter is well-positioned to revolutionize endovascular therapies.”
“In the meantime, Neptune will proceed to push the boundaries in GI robotics, delivering transformative options to sufferers and healthcare suppliers,” he famous. “We intend for each corporations to paved the way in innovating inside their respective specialties.”
Extra on Neptune Medical spinout of Jupiter Endovascular
Jupiter Endovascular exited stealth mode with $21 million in new financing. The Menlo Park, Calif.-based firm is growing the Endoportal Management platform, which it mentioned will convey the precision and management of direct surgical entry to catheter-based surgical procedures.
“The process makes use of an endoportal machine that navigates flexibly by the vasculature through percutaneous entry,” defined Jupiter Endovascular. “As soon as in place, the endoportal machine might be mounted right into a steady state to ship an interventional remedy with surgical-like precision and management from an endovascular entry level.”
Jupiter earmarked its funding to help an upcoming pivotal trial for pulmonary embolism. It additionally plans to place cash towards growing extra medical functions of its Endoportal expertise.
Following the exit of stealth mode, the corporate appointed Carl J. St. Bernard as CEO. He joins from Alta Biomaterials and has greater than 30 years of expertise within the life sciences house.
“The Endoportal Management expertise, which leverages Jupiter’s distinctive and unique mental property to create a catheter-based machine that flexibly navigates by a affected person’s vasculature earlier than fixing right into a steady place, is designed to provide interventionalists the boldness and help they should ship a prescribed cardiovascular remedy,” mentioned St. Bernard. “This represents a generational advance in expertise with the potential to revolutionize the remedy of tens of millions of sufferers worldwide.”
Sonder Capital, different traders help novel method
Sonder Capital and Olympus Company of the Americas participated considerably in Neptune Medical and Jupiiter Endovascular’s funding. Different present and new traders additionally participated, mentioned Neptune Medical.
“For many years, the sector of catheter-based therapies has been restricted by the technological constraints of catheters that lose stability and management inside the anatomy,” mentioned Kate Garrett, managing accomplice at Sonder Capital.
“Jupiter Endovascular has developed a revolutionary method with the potential to beat these constraints by offering clinicians the precision and management of a surgical method whereas sustaining the minimally invasive profile of an endovascular process,” she mentioned. “This novel method could tackle a big unmet medical want in sufferers with illness residing in complicated cardiovascular anatomies, such because the pulmonary arteries.”
Based in 2019 by Moll and Jay Watkins, Sonder Capital has funded healthcare expertise suppliers together with Intuitive Surgical, Procept Biorobotics, and Auris Medical.
Editor’s notice: This text was syndicated from The Robotic Report sibling web site MassDevice.
