Neocis raises $72M from DFJ, Fred Moll, others for its dental surgery robot
30 October 2020
Neocis has raised $72 million in funding to help support its groundbreaking robotic surgery system for use in dental implant procedures.
The company’s series D round was led by DFJ Growth, with additional backing from Vivo Capital, Mithril Capital Management, Norwest Venture Partners, Section 32 and robotic surgery pioneer Fred Moll, co-founder of Intuitive Surgical and Auris Health.
The latest proceeds represent the lion’s share of Neocis’ venture funding to date, pushing its total amount raised to over $120 million.
While the company estimates that more than 6 million robot-assisted surgeries have been performed since the year 2000 across cardiovascular, neurologic and orthopedic specialties, dentistry has not seen the same levels of adoption.
Neocis believes the field could benefit from the steady hand that robotics can provide, as implant placements similarly require careful presurgical planning and precision to avoid critical structures in the mouth.
“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,” co-founder and CEO Alon Mozes said.
Yomi delivers haptic feedback and a computerized navigation system throughout the procedure, including through minimally invasive approaches. In the past year, the system has received three 510(k) clearances from the FDA, most recently in late July to allow for full-arch dental implants, which replace an entire row of teeth.
Prior clearances broadened the system’s uses to include different CT scanner formats and new dental drills. The company said its Yomi robot has so far been used to place more than 2,700 implants.
“Unlike other areas of medicine, dentistry has not benefited from advances in robotics technology—leaving a huge opportunity for innovation,” DFJ partner Jocelyn Kinsey said. “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.”
Published by fiercebiotech.com on October 8, 2020
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