Life Science Company News
EndoQuest™ Robotics Closes $42 Million in Financing to Advance Endoluminal Robotics Technology
Novel technology offers potential of "scar-free" surgery to millions of patients worldwide
HOUSTON, Dec. 4, 2023 /PRNewswire/ -- EndoQuest Robotics, Inc., (the "Company") a privately-held medical device company and pioneering leader in the development of innovative endoluminal robotic technologies, announced today the successful closure of a $42 million C-1 preferred financing round. This strategic funding will fuel the advancement of its groundbreaking flexible endoluminal robot aimed at transforming minimally invasive procedures.
The financing round was led by the Company's legacy investors, CE Ventures Limited and McNair Interests Ltd., along with Puma Venture Capital LLC as a new investor. This significant investment reflects a strong vote of confidence in EndoQuest's vision to revolutionize endoluminal procedures through cutting-edge robotic technology. The newly acquired capital will be instrumental in driving key initiatives, including further research and development, regulatory milestones, commercialization efforts, and strengthening the Company's position as the frontrunner in flexible endoluminal robotics.
"The EndoQuest team is trailblazing novel solutions in minimally invasive surgery," said Neeraj Agrawal, Executive Director, Crescent Enterprises. "We welcome our new partners, and remain fully supportive of the Company and the prospects to transform healthcare with our innovative endoluminal surgical platform."
EndoQuest Robotics is focused on addressing the unmet needs in gastrointestinal ("GI") and other endoluminal surgeries by developing an innovative robotic system that offers precision, flexibility, and improved patient outcomes. The Company's proprietary technology is designed to navigate and perform procedures within the body's luminal spaces, allowing for minimally invasive interventions and enhancing the capabilities of healthcare professionals.
"Our investors share our vision of leveraging robotics to redefine the possibilities in minimally invasive procedures," added Kurt Azarbarzin, CEO of EndoQuest Robotics. "This financing enables us to continue innovating and refining our technology, ultimately improving patient care and transforming the future of endoluminal interventions."
EndoQuest Robotics remains dedicated to collaborating with healthcare providers, researchers, and industry partners to advance the adoption of its revolutionary flexible endoluminal robotic system, ultimately improving patient outcomes and redefining a new standard of care in minimally invasive surgery.
"We are thrilled to join CE Ventures and McNair Interests in this funding round for EndoQuest Robotics," said Amit Hazan, Co-Founder and Managing Partner of Puma Venture Capital LLC. Dr. Vipul Patel, a world-renowned robotic urologic surgeon as well as the Co-Founder and Senior Venture Partner of Puma Venture Capital LLC added, "I've had the privilege of seeing just about every robotic surgical system either in development or on the market today and can honestly say that EndoQuest's system is a true game changer for both physicians and patients."
About EndoQuest Robotics
EndoQuest Robotics is a leading innovator in the development of transformative endoluminal robotic technologies. The Company is dedicated to revolutionizing minimally invasive procedures by creating cutting-edge endoluminal interventions tailored for therapeutic endoscopists and surgeons to perform upper and lower gastrointestinal surgery less-invasively with a focus on enhancing precision, flexibility, and patient outcomes. For additional information, visit the Company's website at www.endoquestrobotics.com.
About CE Ventures Limited
CE Ventures Limited is the corporate venture capital platform of Crescent Enterprises, focusing on strategic investments in early to late-stage high-growth companies. The platform was launched in 2017 and initially capitalized with $150 million. CE Ventures partners with purpose-driven entrepreneurs and start-ups who seek to transform healthcare with breakthrough innovations in medical technology and generate long-term returns. www.crescent.ae
About McNair Interests Ltd.
McNair Interests Ltd is a private investment and management company headquartered in Houston, Texas. The firm's focus on transformative real estate projects, breakthrough medical discoveries, and disciplined investments has enabled it to become a valuable and diversified company with over 35 years of experience in private equity, real estate, energy, and venture capital. The firm considers every opportunity for its ability to drive innovation while generating value and creating a lasting, positive impact on the community. www.mcnair.com
About Puma Venture Capital LLC
Puma Venture Capital LLC was co-founded by Amit Hazan and Dr. Vipul Patel in 2023. The firm seeks to leverage its surgeon venture partners to invest in all aspects of the digital surgery ecosystem that can accelerate the future of minimally invasive care, including robotics, diagnostics, therapeutics, and digital ecosystems, to drive improved patient outcomes and lower costs for all aspects of the healthcare system. www.pumaventurecapital.com
EndoQuest's Flexible Robotic System is under development, has not been cleared by the FDA and is not for commercial sale in the United?States.
For media inquiries or further information about EndoQuest Robotics and its groundbreaking advancements in flexible endoluminal robotics, please contact: