Method AI announced it raised $20 million in Series A funding to support its novel surgical ultrasound platform.
The Boston-based company, co-founded by former Corindus COO Doug Teany, who also serves as CEO, emerged from Cleveland Clinic in 2021. It aims to resolve surgical visualisation challenges experienced by robotic surgeons.
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A private family office led the funding round, while Cleveland Clinic and the JobsOhio Growth Capital Fund also participated. Funds support the continued development of the company’s surgical platform.
The technology visualizes anatomy that lies deep below the visible surface of an organ, beyond what today’s surgical cameras can view. Method AI says it hopes to create a first-of-its-kind 3D subsurface map for physicians while providing real-time guidance against an AI-generated surgical plan.
Method AI’s navigation platform allows for continuous 3D ultrasound imaging throughout a procedure. Its real-time algorithms build a map of critical subsurface features, leveraging machine learning to generate plans that guide physicians to the best possible surgical outcome.
According to Method AI, it aims to significantly improve the cancer-free survival rate for patients. It sees the potential to reduce more than $1 billion in annual costs from the broader healthcare system.
“In complex oncology procedures, surgeons often have to remove tumors that are partially or completely embedded within the organ, making it extremely difficult to gauge the margins of the tumor during a live surgery,” said Teany. “This incomplete view of the tumor and other critical anatomy leads to cancer left behind, unforeseen complications and loss of organ function. With the support of our investment partners, our technology can make the difference between completely removing a tumor or leaving part of it behind, which significantly impacts long-term patient outcomes.”
