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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

TransEnterix raises $55 million to commercialize SPIDER surgery system: Start-up plans "early 2010" launch of its SPIDER minimally invasive, single-port, abdominal surgery system, supported by a $55 million, "Series B" financing round, announced Oct. 7. Led by Aisling Capital, the funding will be used to scale up manufacturing and commercial operations, the company says. The device, which recently gained 510(k) market clearance, offers the advantages of traditional laparoscopic surgery but with a single small incision instead of the traditional three to five, TransEnterix claims. "Potential benefits of single-port technology include faster full recovery, less post-surgical pain, less complications and improved aesthetic results due to the absence of multiple scars," according to the company. The privately held firm was founded in 2006 and is headquartered in Research Triangle Park, N.C.; it has raised a total of $75 million to date


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