Paris (France), July 7th. 2022. Ganymed Robotics, a developer of advanced software and robotics technologies for orthopedic surgeons, announced it has raised €21 million in the oversubscribed first close of its Series B funding. Kurma Partners participated to the financing along Cathay Health, Credit Mutuel Innovation and BNP Paribas Développement.
Funds will be used to complete the development of its surgical robotic assistant dedicated to Total Knee Arthroplasty (TKA), to support the Company’s expansion in France and the United States through regulatory and marketing developments, and to expand the innovation product pipeline.
Since its inception in 2018, Ganymed Robotics has experienced a rapid growth. In collaboration with world-class clinicians, it has validated its proprietary algorithms and collected unique in vivo data via a 100-patient observational study, successfully completed functional prototype tests, initiated industrialization of its first device dedicated to TKA through strategic partnerships with manufacturers and secured a robust patent portfolio.
“The support of such globally reknown investors specialized in innovation and healthcare is a strong endorsement of the work accomplished and of our vision for the future orthopedic surgery. We are eager to enter this new phase of growth,” says Sophie Cahen, co-founder, and CEO of Ganymed Robotics. “With our unique robot-with-eyes platform, we are committed to providing surgeons and care centers with an easy-to-use and cost-effective solution that will radically improve patient outcome, surgeon experience and overall efficiency of joint replacement interventions.”
Ganymed Robotics’ patented technology platform transforms the way orthopedic surgeons perform in the operating room, thanks to its combination of advanced computer vision and mechatronics. The first application is a co-manipulated surgical robotic assistant for Total Knee Arthroplasty (TKA). Ganymed’s device is the first compact and intuitive robot, fully integrated into the workflow, that simplifies and increases the accuracy of orthopedics. TKA is expected to rise in OECD countries from 2.4 million procedures currently to 5.7 million in 2030. Today, 95% of orthopedic surgeries are performed without technological assistance, leading to sub-optimal outcomes; patient dissatisfaction rate is above 20%.
“The work accomplished by Sophie Cahen and her talented team in just a few years is remarkable. Today, most of orthopedic procedures are still performed manually though there is a need of surgery standardization. Ganymed is building the future of orthopedic surgery with its next-generation trackerless co-manipulated robot. We strongly believe in the democratization of robotic solutions in the operating room to assist surgeons and provide better patient outcomes and we are pleased to support Ganymed in this endeavor.” says Philippe Peltier, Partner at Kurma Partners.
About Ganymed Robotics
Ganymed Robotics is a medical device company founded in 2018, developing the next generation of robotic assistance technologies for orthopedic surgery. The company’s mission is to improve patient outcome, surgeon experience, and overall efficiency of care delivery for its target indications. Based in Paris, Ganymed Robotics currently employs 25 people who develop a proprietary technology platform combining computer vision, a branch of artificial intelligence, and mechatronics, in close collaboration with world-class clinicians and advisors. The first application is a robotic surgical assistant for knee arthroplasties, a common and fast-growing intervention associated with high dissatisfaction rates of above 20%. Ganymed Robotics intends to progressively deploy its technology to address several other orthopedics indications. Ganymed Robotics won national and international innovation awards, such as I-Lab, French Tech Emergence, Deep Tech Pioneer, EIT Health, Wilco, EIC Accelerator.
For more information: www.ganymedrobotics.com