Winner of the Worldwide Innovation Challenge (Concours Mondial d’Innovation) within the framework of the “Investments Program for the Future” (PIA), led by the Investment General Secretariat (SGPI) and operated by Bpifrance
Grenoble, March 26, 2018 – Surgivisio, an innovative medtech company that develops 2D/3D imaging technologies integrating surgical navigation, today announced a € 10.7 million B Series round of financing led by BpiFrance via the PSIM (Major Innovation Support Program) fund, and by Sigma Gestion. Stéphane Lavallée, founder, completed the tour alongside historical private investors.
Founded by Stéphane Lavallée, Surgivisio, a Grenoble-based SME, develops 2D and 3D imaging solutions with integrated navigation to assist surgeons in performing multiple procedures, particularly on the spine. Until now, the company was funded by its founders, private investors, the Grenoble-based accelerator Bizmedtech, and Bordeaux-based Med-Innov.
“The field of surgical robotics is experiencing unprecedented success, and at the same time, imaging technology is constantly improving. But until now, no truly integrated solution had been developed for orthopedic / neuro / ENT / spine surgery. It took us eight years to design and develop a solution that is simple to use, reliable and accurate. We designed it for surgeons, with patient benefits in mind.” says Stéphane Lavallée, Surgivisio’s President. “The fusion of different technologies in a single device meets a market need by delivering true efficiency and safety gains with major clinical and economic benefits. The Surgivisio system allows for reduced X-ray doses and increased opportunities for routine surgery and minimally-invasive procedures, without introducing new risks.”
Surgivisio’s R & D team, led by Laurence van Beek and David Armand, will focus on the application for spine surgery, before addressing other segments of orthopedics and traumatology. The Surgivisio device is a highend equipment for advanced healthcare facilities, which has been CE marked by the G-MED (0459) and is now marketed in Europe. Protected by more than 19 patents, Surgivisio’s integrated solution is unique in terms of performance and adaptability (open system for all implant brands).
Surgivisio is working on the industrialization of its production and the development of its network of distributors and partners, as well as approval from the US regulatory agency, the Food and Drug Administration (FDA), to address the US market.
“Surgivisio followed the full course of the Worldwide Innovation Challenge (CMI) and won Phases 1, 2 and 3. Under Phase 2 of the Challenge, the company received 1.1 million euros in funding which enabled it to achieve important milestones, such as CE marking and the first sale. The company is receiving very positive feedback from surgeons, including international opinion leaders. Surgivisio must now focus on the industrialization and worldwide commercial launch of its product, an objective which is perfectly in line with the PSIM Fund’s strategy,” said Emmanuel Audouard, director of the PSIM Fund at Bpifrance.
For Guillaume Hemmerlé, Director of Investments at Sigma Gestion “This third round of funding comes at the right time for Surgivisio, which is enjoying positive momentum and promising prospects, with a possible access to the stock market in the medium term.” Sigma Gestion, a general investor, has experience with Medtech companies, including several significant operations with listed companies.
“We are delighted to accompany Surgivisio in this next stage. The first procedures were highly successful, and we believe Surgivisio has the potential to become a leader in the field of imaging and navigated surgery,” added Marie-Laure Garrigues, investment director within the Biotech & Ecotech division of Bpifrance.
The Major Innovation Support Program Fund (PSIM) supports the development of Surgivisio in a global market
The objective of Phase 3 of the Worldwide Innovation Challenge (CMI) is to provide support to CMI winners with venture capital for the industrialization and internationalization stages of their development and make them champions in their domain. With a budget of € 150 million provided by the French State in the framework of the Investments for the Future Program, the PSIM Fund builds upon the financing continuum proposed by the Worldwide Innovation Challenge to award winners for their development. The PSIM Fund invests tickets between € 2 and € 20 million. Surgivisio is its fifth investment.
Surgivisio / Surgivisio
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