Singapore-based surgical robotic company, NDR Medical Technology, announced today it has raised SGD$8 million (US$5.8 million) in a Series A round of investment, led by Chinese medical devices maker Microport Scientific Corporation.
This is MicroPort's maiden equity investment in Singapore.
Kava Ventures, a partnership founded by the owners of Transmedic (an advanced medical technology distributor in Southeast Asia), and existing SGInnovate, also participated in the round.
NDR will use the capital to prepare for the expansion into the US, regulatory submission across other major markets, as well as to further enhance the team's technical capabilities and explore other clinical applications for the product.
Additionally, NDR will be establishing a joint venture in China with MicroPort Urocare, a subsidiary of MicroPort. This will advance the Singaporean company's entry into the China market, tapping on existing networks and engineering resources that the partnership brings.
Founded in 2014, NDR has developed an Automated Needle Targeting (ANT) system for robotic-guided access to obtain precise targeting. The system uses Artificial Intelligence (AI) and medical image processing to identify the targeted lesion and perform insertion trajectory planning, with the robot executing a range of motion to assist surgeons in obtaining accurate access.
The solution can be applied to biopsy, ablations and other surgical procedures that require precision.
NDR has an ongoing clinical trial in Japan and is continuing its development of ANT for other imaging modalities and medical applications.
The ANT-C robotics system can assist physicians to perform CT-guided operations more precisely, which further boosts the accuracy of needle biopsy, reduces complications and widens the access of precise diagnosis of early-stage lung cancer. In addition, the low-profile robot could be applied in multiple disciplines, which expands the use of the CT-guided procedure.
The ANT-X robotics system is indicated for percutaneous nephrolithotomy (PCNL) procedures. The precise needle positioning is the most critical step in PCNL. Compared to conventional manual needle positioning, the application of the ANT-X robotics system could reduce the complexity, shorten physicians' learning curve, increase procedure accuracy and minimise complications, which will benefit the patients with kidney stone and ureteral stone.