Virtuoso Surgical Announces First Public Offering of Common Stock to Advance its Revolutionary Robotic System for Endoscopic Surgery

Virtuoso Surgical, Inc., a Nashville-based medical device company, announced today that its $20 million stock offering has become effective after review by the United States Securities and Exchange Commission and the Financial Industry Regulatory Authority.

Virtuoso Surgical has developed a robotic surgery system that radically improves minimally invasive endoscopic surgery. Virtuoso uses patented technology developed by the Company’s founders at Johns Hopkins University and Vanderbilt University with funding from the National Science Foundation and the National Institutes of Health.

Virtuoso Surgical’s offering is made under SEC Regulation A, Tier 2, which means that any U.S. person can invest in the Company. The offering is for the sale of common stock, and this is the first offering of the Company’s common stock to the public.

Virtuoso Surgical was founded to make minimally invasive surgery more effective by providing surgeons with dexterous, accurate and cost-effective tools for endoscopic surgery,” stated Robert J. Webster, III, PhD, Co-Founder and President. “We are not aware of any technology that accomplishes the dexterity, precision and force of the Virtuoso Surgical device, at such a small diameter. It enables surgeons to use two hands to perform more accurate interventions deep in the body through endoscopes.”

Duke Herrell, III, MD, FACS, Co-Founder, Interim CEO and Chief Medical Officer of Virtuoso Surgical, added, “We are excited about the opportunity to sell our common stock to the public. We expect to complete the design of our system by the end of this year, and to conduct final testing of the system in 2023. The capital that we will raise through this offering of common stock will, we believe, propel our system through final design, testing and FDA approval for sale in the United States.”

Virtuoso Surgical’s team of internationally recognized clinical and engineering experts includes Dr. Webster and Dr. Herrell, along with Richard Hendrick, PhD, Chief Operating Officer. Drs. Webster and Herrell, along with others, co-founded the Vanderbilt Institute for Surgery and Engineering (VISE), and Dr. Hendrick has been the lead engineer for Virtuoso since it began operations in 2017.

The Virtuoso Surgical system has demonstrated feasibility in animal, cadaver and tissue model studies in surgeries for bladder cancer, uterine fibroids (among other intrauterine procedures), enlarged prostate (benign prostatic hyperplasia – BPH), central airway obstruction removal, and endoscopic neurosurgery.

The technology can provide dexterity in any procedures where tools are delivered through rigid endoscopes, including urology, gynecology, neurology, interventional pulmonology, orthopedics, thoracic surgery, ear, nose and throat (ENT) and other sub-specialties.

 

Virtuoso Surgical Resources

Videos of Several First Surgeries

Academic Publications

Articles

 

About Virtuoso Surgical

Virtuoso Surgical has developed a groundbreaking robotic surgery system that radically improves minimally invasive endoscopic surgery. The Virtuoso Surgical system features a pair of instrument delivery arms made of concentric nitinol tools that mimic a surgeon’s hands to offer unprecedented control and dexterity to a full range of endoscopic applications. The system uses patented technology developed by Virtuoso’s founders at Johns Hopkins University and Vanderbilt University with funding from the National Science Foundation and the National Institutes of Health. For additional information about Virtuoso Surgical and the initial public offering of common stock, visit www.virtuososurgical.net and www.virtuososurgical.net/investors.

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Virtuoso System Meets Second “Design Freeze” Milestone

The second sub-component of the Virtuoso System to reach “design freeze” is the Surgeon Workstation. Having the sub-component meet design freeze means that it is ready for final fabrication, testing, and submission to the Food & Drug Administration for approval. The remaining two sub-components of the system, the Endoscope/Motorpack and the System Holding Arm, are expected to reach their design-freeze milestones by the end of 2022.

Virtuoso System Completes Central-Airway Cadaver Experiments

Virtuoso Surgical received funding from the National Institutes of Health to conduct experiments using the Virtuoso System to approach lesions, including cancerous blockages, of the trachea. The final experiments were a success, demonstrating clear benefits of the Virtuoso System for removing cancerous blockages from the trachea.

Virtuoso System Meets First “Design Freeze” Milestone

The Virtuoso System has four main sub-components: the Surgeon Input Device, the Surgeon Workstation, the Endoscope/Motorpack, and the System Holding Arm. The first sub-component to reach “design freeze” is the Surgeon Input Device. Having the sub-component meet design freeze means that it is ready for final fabrication, testing, and submission to the Food & Drug Administration for approval. The remaining three sub-components are expected to reach their design-freeze milestones by the end of 2022.

Dr. Duke Herrell Presents the Virtuoso System to Venture Capital Companies at Venture Summit/West

Dr. Herrell presented the Virtuoso System to venture-capital investors at the invitation of the Wilson Sonsini law firm. Venture Summit/West, a nationally recognized venture-capital conference held annually in Silicon Valley, hosted Dr. Herrell for his investor presentation. The reception of the audience was extremely positive, opening up further discussions between the Company and a number of potential backers.

First Public Demonstration of the Virtuoso System Occurs at the AUA Annual Meeting

The Virtuoso System was publicly demonstrated for the first time at the 2022 annual meeting of the American Urological Association, which is the nations leading association of Urologists. The conference, held in New Orleans, hosted a demonstration of the Virtuoso’s “Bach” prototype. Hundreds of urologists stopped by Virtuoso’s booth and the response was overwhelmingly favorable to the demonstration of Bach in action.

S. Duke Herrell, MD, Assumes Role as Interim CEO at Virtuoso Surgical

Dr. Herrell, an internationally recognized expert in medical device innovation, development of new surgical techniques, and robotic surgical technology, has served as founder and CMO of Virtuoso since helping found the company in 2016. He has taken leave from his busy clinical practice as a renowned robotic and minimally invasive urologic surgeon at Vanderbilt University Medical Center.  Dr. Herrell will lead capital raising, continue to contribute to robotic system development, develop clinical advisory groups, and oversee plans for regulatory approval studies.

Virtuoso Completes First Live Animal Surgery

The Virtuoso System was used in Atlanta, Georgia, to perform experiments on a live sow. The sow’s uterus is an excellent live model for simulating a human uterus as well as the human bladder, particularly for evaluating the Virtuoso System’s ability to perform precise dissection, tissue retraction, and control of bleeding. The system performed well and demonstrated an excellent ability to stop intra-operative bleeding.

Virtuoso Surgical’s Innovative Surgical Technology Featured in “MedTech Outlook”

“Virtuoso Surgical: Endoscopic Surgery Reimagined”
MedTech Outlook, July 2020

Virtuoso Surgical’s system replaces single, straight tools in many rigid endoscopic procedures, enabling surgeons to grasp, manipulate, and cut tissues with unparalleled bimanual dexterity. This capability gives surgeons the ability to perform advanced rigid endoscopic surgery – a task often limited by the tool and the surgeon’s experience with it.

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