Medical device company and pioneer in robot-assisted dental implant surgery, Neocis, has closed $72 million in a Series D financing round led by DFJ Growth. Neocis has now raised more than $120 million in financing. Vivo Capital also participated in the financing round, along with existing investors Mithril Capital Management, Norwest Venture Partners, Section 32, and Fred Moll.
Since 2000, more than 6 million robotic-assisted surgeries have taken place across multiple medical specialties including Cardiovascular, Neurology, and Orthopedics. But despite the level of precision required for dental surgery, dentistry has not previously been able to benefit from this revolutionary technology. Yomi is the first and only robotic-assisted surgical system cleared by the U.S. Food and Drug Administration for dental implant surgery and has, to date, been used to place more than 2,700 dental implants. Yomi is also being used at two leading dental schools — Boston University Henry M. Goldman School of Dental Medicine and the West Virginia University School of Dentistry — to help train the next generation of implant dentists with the latest in robotic technology.
Bringing the Precision and Accuracy of Robotics to Dental Surgery
Successfully placing dental implants requires careful pre-operative planning and a high degree of accuracy and precision to avoid critical anatomical structures and provide the best outcome for the patient. The traditional technique requires a surgeon to use a freehand approach with no guidance and to create an invasive flap which exposes the bone and is the main source of pain and discomfort for the patient.
Dr. Scotty Bolding, a Yomi Pioneer and leading oral surgeon based in Fayetteville, AR, said, “It is exciting to finally have the power of surgical robotics available in the field of dentistry. I have been placing dental implants for over 30 years and I have never experienced the precision or accuracy that was demonstrated with Yomi. There is no doubt in my mind that Yomi will set the standard of care for a variety of dental procedures and become a critical part of every dental practice.”
Yomi uses haptic robotic guidance and is a computerized navigational system intended to provide assistance in both the planning (pre-operative) and the surgical (intra-operative) phases of dental implantation surgery. It brings a new level of precision to implant surgery by providing software to preoperatively plan dental implantation procedures followed by navigational guidance of surgical instruments during surgery to carry out the surgical plan exactly. Yomi can be used for flapless dental implant procedures, which is a minimally invasive surgical approach. A minimally invasive flapless surgical approach has been proven to lead to faster surgery, faster recovery, and less pain for the patient.
“At DFJ Growth, we like to make bold bets on ground-breaking technologies,” said Randy Glein, co-founder and partner at DFJ Growth. “As the only FDA-approved surgical robotics system for dentists and oral surgeons, Neocis is uniquely positioned to deliver innovative approaches for practitioners that improves outcomes for patients. Everyone wins with Yomi as it brings dentistry and oral surgery into a better future.”
“Unlike other areas of medicine, dentistry has not benefited from advances in robotics technology – leaving a huge opportunity for innovation,” said Jocelyn Kinsey, partner at DFJ Growth. “Neocis’ unique technology and vast experience in surgical robotics, gives the company a tremendous first-to-market advantage to address the needs of this large and growing category.”
“As early pioneers of robotic orthopedic surgery technology, we are excited to bring robotics to the world of dental surgery,” said Alon Mozes, Co-Founder and CEO, Neocis. “This latest round of funding will allow us to expand the reach of our robotic-assisted surgical system and fuel further development of Yomi’s technology platform to deliver increased value to every dental office in the country.”