New View Surgical, Inc. has announced that it has closed a $9M Series B financing round to fund the initial market release of its VisionPort™ System. The Series B financing follows the company’s announcement of FDA clearance for its VisionPort System platform in June of this year. The round was led by members of New York Angels with Corza Medical, Inc., IAG Capital Partners, Charleston Angels Partners, Ariel Savannah Angel Partners, Keiretsu Forum, Mid Atlantic Bio Angels (MABA) and SSIP, among others participating in the round.
Commenting on the close of the Series B round, Bryce Klontz, President & CEO, said, “We’re excited to bring this revolutionary technology to key hospitals and surgical teams that supports our mission to advance the growth of minimally invasive surgical procedures worldwide and holistically address the clinical, operational, and financial needs of the operating room. A majority of funds raised in this round resulted from follow-on investments from current investors, which is a testament to our company’s vision and accomplishments to date.”
In conjunction with this fundraise, the New View Surgical Board of Directors will expand to include John Younger, M.D., a member of New York Angels, and Tom Testa, Chief Financial Officer at Corza Medical, Inc. Dr. Younger and Mr. Testa will serve alongside current board members, Chairman, Scott Flora, Melvin Prenovitz, Nancy Briefs, Mark Schneider and Bryce Klontz, President & CEO.
“New View Surgical is taking the bold step to reimagine laparoscopic visualization,” commented John Younger, M.D, Managing Director at ArgoPond, a life science advisory and capital firm based in Philadelphia. “The company’s game-changing visualization technology will enable less invasive surgery for patients and will make state-of-the-art visualization more accessible to surgeons, regardless of the setting. Multiple members of New York Angels participated in this round and are excited about what the future holds for New View Surgical and the VisionPort System platform,” added Tom Testa, Chief Financial Officer of Corza Medical, Inc. “New View Surgical is taking a holistic approach to adding value and is setting the stage for improved clinical care and operational efficiencies, all while lowering costs.”
Commenting on the new Board appointments, Klontz said “We are pleased to welcome John and Tom to the Board, and we are excited to welcome several new investors to the New View Surgical family.”
The VisionPort™ System is a novel surgical imaging and access system that simplifies laparoscopic procedures by reducing the need for a separate camera port and camera holder and allows multiple simultaneous views of the operative field. In emerging markets, the VisionPort™ System will greatly reduce the capital-intensive equipment currently required to perform minimally invasive surgery, and thus, making state-of-the-art technology more accessible. The VisionPort System is intended to be used in a broad range of diagnostic and therapeutic procedures within the thoracic and abdominal cavities and is adaptable to a wide variety of surgical environments, representing a significant market opportunity.