The funds will enable Quantum Surgical to accelerate the clinical adoption of its surgical robot for liver cancer treatment.
The operation comes under total financing of €40 million provided alongside the Ally Bridge life sciences investment group, Bpifrance and Caisse d’Epargne Languedoc-Roussillon.
The investment is being made through the €25 billion European Guarantee Fund to support the recovery of European businesses following the COVID-19 pandemic.
The European Investment Bank (EIB) and Montpellier-based medtech startup Quantum Surgical have announced the signature of a €15 million financing agreement. The operation to finance the commercial launch of the Epione® medical robot for the minimally invasive treatment of liver cancer comes under total financing of €40 million. Led by the global life sciences investment firm Ally Bridge Group with an investment of €20 million, it also includes financing from Bpifrance and Caisse d’Epargne Languedoc-Roussillon, bringing the total amount of funds raised by Quantum Surgical since its creation in 2017 to €50 million.
Following the CE mark approval announced in September, this funding will support the company’s operations for the commercial launch of Epione®, a medical robot designed to assist physicians in performing safer and more efficient percutaneous tumour ablations in the abdomen. Epione® is designed to enable more patients to benefit from minimally invasive liver cancer treatment through a technique that consists of inserting a needle through the skin to destroy tumours.
“The EIB is pleased to be contributing to the development of Quantum Surgical and its innovative technology to improve the treatment of liver cancer. As we continue to deal with the challenges posed by COVID-19, this €15 million financing, with the backing of the Pan-European Guarantee Fund (EGF), demonstrates Europe’s focus on supporting innovation and promising technologies in the field of healthcare, an area that is vital for people’s well-being,” said EIB Vice-President Ambroise Fayolle.
“We are delighted to have closed this round of financing and are honoured to have the strong, continued support of our long-term investor Ally Bridge Group, which has been by our side since our days as Medtech SA, just before its acquisition by Zimmer Biomet in 2016. These additional funds will help us accelerate the clinical adoption of Epione®, our medical robot for the treatment of liver cancer,” said Bertin Nahum, Co-founder and CEO of Quantum Surgical.
“As an early investor in Quantum Surgical, Ally Bridge Group is proud to continue supporting the company’s remarkable achievements during the COVID-19 pandemic, as evidenced by its recent CE mark approval,” said Frank Yu, Founder and CEO of Ally Bridge Group. “We expect Quantum Surgical to achieve significant milestones in the near term that will enable Epione® to treat more liver cancer patients sooner and better than we can with the current standard of treatment.”
Quantum Surgical is an innovative medical robotics company committed to the development of tomorrow’s healthcare. It aims to set new standards in cancer treatment by enabling more patients to benefit from innovative, targeted and less invasive treatments.
The Epione® robot developed by Quantum Surgical is a robotic solution designed to assist physicians in planning, guiding and assessing the percutaneous ablation of tumours in the abdomen, a technique that involves inserting a needle through the skin to the tumour to destroy it.
Co-founded in 2017 by Bertin Nahum, Quantum Surgical is based in Montpellier, France.
Ally Bridge Group is a global healthcare investment firm focused on high-impact life sciences innovation across private and public markets. It was founded in 2013 by Chief Executive Officer and Chief Investment Officer Frank Yu, with offices in New York and Hong Kong. Through its scientific and clinical research combined with its expertise in mergers and acquisitions and capital markets, Ally Bridge Group seeks to seize investment opportunities across the capital structure to address unmet medical needs.
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