Writes Editor-in-Chief Omar Ford in MD+DI, Virtuoso Surgical is going for a “different” segment in surgical robotics than other established players in the space.
While it might be a bit daunting to carve out a strong place in the space, Virtuoso Surgical, a surgical robotics maker, said it stands out from other competitors and is creating a “4th lane on the surgical robotics highway.”
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
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 is the subject of an editorial in the Journal of Minimally Invasive Gynecology, which concludes “…my excitement is considering the new procedures that we may be able to perform transcervically. This includes treating deep intramural myomas, hysteroscopic suturing, more complete resection of adenomyosis, and alternative therapies for congenital uterine anomalies. I offer my congratulations and encouragement for the authors and developers of this novel robotic technology.”
“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.
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 Institutes of Health.
The Virtuoso 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 rigid endoscopic surgeries. Virtuoso’s robotic manipulators are the size of a needle, or nearly 10 times smaller than other state-of-the-art robotic instruments.
Virtuoso’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 Class A preferred stock, which is intended to protect investors from follow-on dilution while generating potential returns comparable to historic venture capital portfolio investments.
Virtuoso Surgical operates at the intersection of robotics and minimally invasive surgery. Rigid endoscopy is the oldest, largest, and most mature segment of minimally invasive surgery, with an annual global market size of approximately $20 billion.
“Virtuoso Surgical was founded to make minimally invasive surgery more effective by providing surgeons with dexterous, accurate, and cost-effective tools for rigid endoscopes,” stated Robert J. Webster, III, PhD, Co-Founder and President. “We are not aware of any technology that accomplishes the precision and force of the Virtuoso device for operation through standard rigid endoscopes.”
Webster continued, “We believe that nearly all surgical procedures currently attempted with a rigid endoscope stand to benefit from our platform technology. We anticipate that this advanced technology will enable new procedures and surgical techniques while improving many existing procedures and techniques.”
The Virtuoso technology is built on over 10 years of innovation in academic labs. Rigid endoscopes are currently used in almost every area of surgery, including neurologic, thoracic, orthopedic, urologic, and gynecologic procedures. The Company is actively developing and testing the system for numerous endoscopic applications.
Virtuoso’s team of internationally recognized clinical and engineering experts include Dr. Webster, who developed the technology in collaboration with Duke Herrell, MD, a urological surgeon and Virtuoso’s Chief Medical Officer, and Richard Hendrick, PhD, Chief Operating Officer. Drs. Webster and Herrell, along with others, co-founded the Vanderbilt Institute for Surgery and Engineering (VISE). Mark Pickrell serves as Chief Administrative Officer and General Counsel of Virtuoso.
About Virtuoso Surgical
Virtuoso Surgical has developed a groundbreaking robotic surgery system that radically improves minimally invasive endoscopic surgery. The Virtuoso 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 Institutes of Health. For additional information about Virtuoso, visit www.virtuososurgical.net.
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