Laparoscopic robot co MST raises several million dollars

Medical Surgical Technologies' robot, the AutoLap, tracks the surgeon's movements and moves the camera accordingly.

Medical Surgical Technologies Ltd. (MST), which has developed a miniature robot for laparoscopic procedures, has raised several million dollars from three life sciences venture capital funds. Agate Medical Investments LP, founded by Danny Naveh and Michel Habib, led the round, and was joined by current investors Vitalife Life Sciences Venture, Triventures, and undisclosed private investors.

MST was founded in 2005 by Ziv Tamir and Moti Sholev at the New Generation Technology (NGT) incubator in Nazareth. Its CEO is Motti Frimer, a former CEO of Elron Electronic Industries Ltd. (TASE: ELRN).

Laparoscopic procedures are carried out through small incisions in the abdomen, instead of one large incision, through which endoscopic-guided devices (such as scalpels) are interested by the surgeon using platforms that resemble knitting needles. A different person usually holds the camera.

The need for two people sometimes creates communications failures during the procedure, annoying the surgeon. Sometimes the person holding the camera is insufficiently skilled and the image seen by the surgeon is blurred. MST's product, the AutoLap, replaces the technician with a robot, which tracks the surgeon's movements and moves the camera accordingly. The surgeon controls the system with buttons on the control handle, but most of the movements are supposed to be automatic.

The US Food and Drug Administration (FDA) certified the AutoLap in September, following earlier EU CE Mark certification on the basis of dozens of successful procedures with the robot in at European hospitals. MST is now seeking distributors in Europe and the US, and is also reviewing strategic collaborations.

Several Israeli start-ups which developed laparoscopic devices have been acquired in recent years for tens of millions of dollars each.

Published by Globes [online], Israel business news - www.globes-online.com - on October 24, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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