Alesi Surgical Limited, a leading innovator of minimally invasive surgery technologies – including the world-first Ultravision device – has successfully raised a further £9.4m in funding from both new and existing investors.
Norgine Ventures, a leading provider of financing to innovative, fast-growing companies in the fields of healthcare and life sciences in Europe and the US, joined IP Group PLC, Panakes Partners and Earlybird in providing this package of growth capital to the Company.
The funds raised will be used to support the delivery of both commercial and R&D objectives. Specifically, it will allow the completion and product launch of the R&D project that is integrating Ultravision technology into energy-based instruments that are used in laparoscopic and open surgical procedures. Commercially, the focus will be on supporting its strategic partner, Olympus Corporation of the Americas, in the United States; growing and supporting its ex-US distribution network; and generating further clinical data and advocacy.
Dominic Griffiths, CEO of Alesi Surgical, commented: “2020 was a challenging year for the whole industry. Despite this, our Company made significant progress. Control of aerosols of biological origin has never been more critical. Independent data has now shown that during laparoscopic surgery, Ultravision is superior to evacuation-based methods of minimising such bioaerosol release into the operating room. In addition, Ultravision’s unique gas-sparing mode of action promises clinical benefit otherwise difficult to obtain by other means and we are working with opinion-leading healthcare professionals to generate further evidence of this.
The strategic partnership with Olympus, announced in 2020, demonstrates the value of the Ultravision platform and provides a fantastic scale-up opportunity in our most important sales channel. In parallel, successful integration of Ultravision with energy-based instruments will disrupt a $2.4bn market with a highly differentiated product offering in an otherwise increasingly genericised market. We would like to thank our existing investors for their support and welcome Norgine Ventures to the Company.”
Commenting on the investment in Alesi, Peter Stein, CEO and Chairman of the Norgine Group, said: “We are excited to support Alesi Surgical, Ltd. in their journey to provide better solutions for the management of surgical-smoke/bioaerosol to surgeons and surgical-teams across the world. We believe that with its existing commercial partnerships and the long-term support from its existing and new investors, the company is well placed to execute on its expansion plan.”
The UltravisionTM system is the world’s first use of electrostatic technology to clear the vapour and particulate matter – so called “surgical smoke” – that is generated by modern surgical cutting instruments during surgery. It is currently cleared for use in laparoscopic surgery in the USA, Europe, and Japan– and, in addition, for open surgery in the USA.
The revolutionary medical device produces a low-energy electrostatic charge that eliminates surgical smoke from the field of view as it is created by the cutting instrument. Minimising healthcare professionals’ exposure to surgical smoke is increasingly important worldwide because of concerns over the risks of infection and long-term exposure toxicity.
The technology also benefits the patient as it can be used to minimise the pressure, flow rate and volume of cold, dry carbon dioxide gas that a patient is exposed to during the keyhole procedure. Excessive use of carbon dioxide, which is used to create a working space inside the abdomen, contributes to cardiovascular problems, complications in anaesthesia, post-surgical pain, and longer recovery time for the patient.
Notes to editors:
For more information, please contact Alesi Surgical on +44 (0) 29 2029 1022.
- Alesi Surgical develops and commercialises products that improve the safety, efficiency, and outcomes of advanced surgical procedures. The company was founded in 2009 as a spin-out from the Welsh Institute for Minimal Access Therapy (WIMAT), with the vision of becoming a world leader in surgical devices. Part of Cardiff University, WIMAT runs multi-disciplinary training courses across a range of surgical and medical specialties and is the busiest multi-disciplinary training centre in the United Kingdom. Alesi Surgical is based at Cardiff Medicentre, the dedicated medical, healthcare, and life sciences business incubator located on the University Hospital of Wales campus. The latter is also home to Cardiff University’s School of Medicine. Cardiff University is Wales’s leading Higher Education Institution for innovation, ranked 7thin the UK and 45th in Europe for innovation by Thomson Reuters. For more information, visit alesi-surgical.com.
- About IP Group. IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO. For more information, visit ipgroupplc.com .
- About Panakes Partners. Panakès Partners is a Venture Capital investor that finances medical companies, early stage startups and SMEs, with extremely promising products and great ambition, in Europe and Israel, improving both patient outcomes and healthcare economics. Investments focus on the medical device, diagnostics and healthcare IT fields. Panakès Partners is headquartered in Milan, Italy. panakes.it.
- About Earlybird. Earlybird is a venture capital investor focused on European technology companies. Founded in 1997, Earlybird invests in all growth and development phases of a company. Amongst the most experienced venture investors in Europe, Earlybird offers its portfolio companies not only financial resources, but also strategic and operational support as well as access to an international network and capital markets. With EUR 1.5 billion under management, eight IPOs and 30 trade sales, Earlybird is one of the most successful venture capital firms in Europe. For further information: earlybird.com, Twitter: http://www.twitter.com/EarlybirdVC.LinkedIn: www.linkedin.com/company/earlybird-venture-capital or Facebook: www.facebook.com/EarlybirdVC
- About Norgine Ventures. Norgine Ventures is backed by Norgine, a private, European healthcare company with 115 years of experience in the pharma space. Norgine Ventures was started in 2012 to diversify Norgine’s activities and foster innovation in the healthcare sector. Norgine Ventures provides debt and debt-like financing to innovative, fast-growing companies in the fields of healthcare and life sciences, in Europe and the US. To date, Norgine Ventures has invested in over twenty businesses, including specialty pharma, diagnostic and medical device companies, at various stages of their life cycle. For further information: https://www.norgineventures.com/