Biobot Surgical announced today that it closed a Series B funding round worth $18 million to support its surgical robot.
Tony Tan, a healthcare entrepreneur, led the round for the robotic-assisted transperineal biopsy and treatment company. Existing shareholder Zig Ventures also participated. Biobot plans to use the funds raised to accelerate its global expansion and commercial footprint.
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CEO Albert Lee wrote a letter to shareholders announcing the closing of the round. He said the funding “marks a significant milestone” in the company’s journey toward transforming the field of transperineal biopsy and treatment.
“With the FDA clearance of our groundbreaking surgical robotic system, Mona Lisa 2.0, we are well-positioned to achieve this goal,” Lee wrote.
Biobot designed Mona Lisa as a robotic-assisted transperineal needle positioning device for prostate disease management. It delivers a precision percutaneous approach to these procedures. The company hopes to use funds to bring it into the field of benign prostatic hyperplasia (BPH) as well.
The system’s approach aims to shift from transrectal treatment due to infection risks, Lee said. Emerging innovations, like ablation, increasingly occur through transperineal delivery. Mona Lisa, an intelligent system, simplifies the challenging task of positioning for these procedures.
According to Lee, Mona Lisa is the first and only commercially available robotic positioning device of its kind. It brings with it several regulatory approvals — including FDA approval and CE mark — and has been used in more than 20,000 procedures to date, with more than 50 global installations, he said.
Biobot already introduced Mona Lisa in the U.S., China, Australia, Europe and more Asia Pacific geographies. It also has a joint venture with Microport Medbot to continue its growth in Asia.
“We are deeply grateful for your ongoing support, which has enabled us to reach this significant milestone,” Lee concluded. “We are excited about the journey ahead and remain committed to advancing innovation in the field of robotic-assisted transperineal biopsy and treatment.”
