Medrobotics® Closes $20MM Financing To Expand Into General Surgery And Build Next Generation Robot System

Development of Multiple New Surgical Applications and Next Generation
Robotic System to Fuel Future Growth of Company’s Flex
®
Surgical Platform


RAYNHAM, Mass.–(BUSINESS WIRE)–Medrobotics Corp., a medical products company, today announced closing a
$20 Million Preferred Stock financing. Existing Medrobotics shareholders
participated in the round. Proceeds will be used to fund the Company’s
expansion into new surgical applications, such as single-port general
and gynecological surgeries, and to develop its next generation Flex®
Robotic System with more fully robotic instrument options.

Medrobotics will continue to pursue scarless ENT, colorectal and
gynecological procedures to be performed through natural body orifices
with the world’s first and only commercially released steerable and
shapeable robotic surgical products. Additionally, the Company will
develop the Flex® Robotic System for single port abdominal
applications for a variety of difficult to reach procedures in general
surgery, urology, and gynecology.

The Flex® Robotic System has been cleared for ENT procedures
in the United States and internationally. Last year, Medrobotics became
the first robotic company to obtain regulatory clearance for minimally
invasive, flexible robotic products for colorectal procedures in Europe
and Asia. The Flex® Robotic System is now the first robotic
surgical platform offering the ability to access hard to reach anatomy
in both otolaryngology and colorectal procedures without the limits
imposed by straight rigid instruments.

About Medrobotics
Medrobotics Corporation (www.Medrobotics.com)
is a privately funded medical device company headquartered in Raynham,
Massachusetts. The Company manufactures and markets the Flex®
Robotic System, the world’s first robotic surgical platform with a
steerable and shapeable robotic scope. The Flex® Robotic
System offers surgeons the unique ability to navigate complex anatomy
minimally invasively and operate in hard-to-reach anatomical locations
that might otherwise be inaccessible with straight, rigid surgical
tools. The Company’s is committed to providing more patients access to
advanced, minimally invasive surgery. Medrobotics received FDA clearance
for the Flex® Robotic System in July 2015, and the CE mark in
March 2014. The System is not yet cleared for colorectal applications in
the US.

Contacts

Medrobotics Corporation
Kevin Knight, 214-732-9392