NAVIGANTIS Secures $12 Million to Advance the Development of its VASCO Robotic Platform
ROBOTICSFUNDRAISE
NAVIGANTIS Inc. announced today that it has closed a $12 million Series A financing led by Puma Venture Capital, with participation from Cormorant Asset Management and Mirae Asset Capital.
MIAMI, July 25, 2024 /PRNewswire/ -- NAVIGANTIS Inc. announced today that it has closed a $12 million Series A financing led by Puma Venture Capital, with participation from Cormorant Asset Management and Mirae Asset Capital. All existing NAVIGANTIS investors participated in the financing round. Amit Hazan, Founder and Managing Partner at Puma Venture Capital will join NAVIGANTIS Board of Directors.
Proceeds from the financing will be used to support the ongoing development and testing of the VASCO robot to bring it into first-in-human clinical trials in neurovascular procedures.
We are thrilled and fortunate to have the support of such esteemed partner investors who share our vision for revolutionizing neurovascular care with robotics," said Mor Dayan, CEO of NAVIGANTIS.
Neurovascular diseases, including stroke, aneurysms, and Arteriovenous malformations (AVMs) are leading causes of death and disability worldwide. In the case of stroke, it affects someone in the US every 40 seconds, and is the leading cause of disability. Despite improvements in stroke systems of care, many Americans still lack timely access to acute stroke intervention. Mechanical Thrombectomy (MT) is now the gold standard for acute ischemic stroke. If a patient receives MT within 2 hours from symptoms onset it has a 90% chance of re-achieving independence, at 6 hours the number drops to 30%. These numbers reaffirm the importance to ensure the procedure is timely and widely available, which is currently constrained by the insufficient number of trained neurointerventionalists and the limited access outside urban areas.
Amit Hazan, Managing Partner at Puma Venture Capital added: "we are incredibly excited to support the NAVIGANTIS team in their mission to further improve stroke care via robotic applications. The use of robotics in the neurovascular space also opens the door to expanded access to care via telesurgery, and going beyond fixing blood vessels that are weakened or blocked to use the vascular route for other applications such as drug delivery and brain implants. All these advancements will ultimately help many neurovascular patients across the globe to live longer and healthier lives."
As more endovascular procedures requiring fluoroscopy for imaging guidance are performed to treat neurovascular diseases, it has become vitally important to focus on decreasing the radiation exposure. The application of robotics for interventional procedures will greatly reduce it.
About NAVIGANTIS INC:
NAVIGANTIS Inc. is developing an interventional robotic platform for a wide range of neurovascular procedures and indications, including Acute Ischemic Stroke.
For more information, visit www.navigantis.co and follow us on LinkedIn.
About Puma Venture Capital:
Puma Venture Capital was co-founded by Amit Hazan and Dr. Vipul Patel in 2023. The firm seeks to leverage our network of 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, AI analytics, and digital ecosystems, to drive improved patient outcomes and lower costs for all aspects of the healthcare system.
Press Contacts
Media and investor contact: ir@navigantis.co