Ganymed Robotics Raises €21M to Complete the Development of Its Next Generation Surgical Robot and Prepare for a Commercial Launch
Summary
The round was led by Cathay Health, with participation of Credit Mutuel Innovation, Kurma Partners, BNP Paribas D\xe9veloppement and internationally renowned surgeons.The funding will be used to:- Support Ganymeds expansion in France and in the United States;- Finalize the industrial development of its surgical robotic assistant for knee arthroplasty (TKA);- Accelerate regulatory and marketing developments across geographies;- Diversify the innovation product pipeline.Since inception in 2018, Ganymed Robotics has experienced a rapid growth. In collaboration with world-class clinicians, it has validated its proprietary algorithms and collected unique in vivo data via a 100-patient observational study, successfully completed functional prototype tests, initiated industrialization of its first device dedicated to TKA through strategic partnerships with manufacturers and secured a robust patent portfolio. We are looking forward to working alongside such a talented team and contribute to making orthopedic surgery safer, more accessible, more surgeon-centric and ultimately more efficient for all," says Dr. Steve Oesterle, former SVP Medicine and Technology at Medtronic, now Venture Partner at Cathay Health.Bryan, Garnier & Co acted as exclusive financial advisor on the transaction.Ganymed Robotics is a medical device company founded in 2018, developing the next generation of robotic assistance technologies for orthopedic surgery. Based in Paris, Ganymed Robotics currently employs 25 people who develop a proprietary technology platform combining computer vision, a branch of artificial intelligence, and mechatronics, in close collaboration with world-class clinicians and advisors. Its global platform brings together startups, established companies and large corporations to fuel cross-border, cross-industry collaboration and growth with direct access to new markets, partners and patients.