(BusinessWire) — TransEnterix, a medical device company that is pioneering the use of robotics and flexible instruments to improve minimally invasive surgery, has announced that it has expanded its existing financing agreement with Oxford Finance and Silicon Valley Bank to provide for up to $30 million in growth capital, an increase from $25 million. TransEnterix is focused on the development and commercialization of the SurgiBot System, a robotically enhanced laparoscopic surgical platform that allows the surgeon to be patient-side within the sterile field.
The system utilizes flexible instruments through articulating channels controlled directly by the surgeon, with robotic assistance, at the patient’s bedside. The flexible nature of the system allows for multiple instruments to be introduced and deployed through a single incision. The SurgiBot System has not been cleared by the FDA for use in the United States.Tags: FDA, Oxford Finance, Silicon Vally Bank, SurgiBot™ System, TransEnterix