Business Wire

Ganymed Robotics Raises €21M to Complete the Development of Its Next Generation Surgical Robot and Prepare for a Commercial Launch

Share

Ganymed Robotics, a developer of computer vision software and robotics technologies for orthopedic surgeons, announced it has raised €21 million in the oversubscribed first close of its Series B funding. The round was led by Cathay Health, with participation of Credit Mutuel Innovation, Kurma Partners, BNP Paribas Développement and internationally renowned surgeons.

The funding will be used to:

- Support Ganymed’s 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.

“The support of this high-profile group of investors, specialized in innovation and healthcare is a strong endorsement of the work accomplished and of our vision for the future of orthopedic surgery. We are eager to enter this new phase of growth,” says Sophie Cahen, co-founder and CEO of Ganymed Robotics. “With our unique robot-with-eyes platform, we are committed to providing all surgeons and care centers, large and small, with an easy-to-use and cost-effective solution that will radically improve patient outcome, surgeon experience and overall efficiency of joint replacement interventions.”

Ganymed Robotics’ patented technology platform transforms the way orthopedic surgeons perform in the operating room, thanks to its combination of advanced computer vision and mechatronics. The first application is a co-manipulated surgical robotic assistant for total knee arthroplasty (TKA). Ganymed’s device is the first compact and intuitive robot, fully integrated into the workflow, that simplifies and increases accuracy of orthopedics. TKA is expected to rise in OECD countries from 2.4 million procedures currently to 5.7 million in 2030. Today, 95% of orthopedic surgeries are performed without technological assistance, leading to sub-optimal outcomes; patient dissatisfaction rate is above 20%.

“We have been impressed by Ganymed’ next-generation technology. 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.

About Ganymed Robotics

Ganymed Robotics is a medical device company founded in 2018, developing the next generation of robotic assistance technologies for orthopedic surgery. The company’s mission is to improve patient outcome, surgeon experience, and overall efficiency of care delivery for its target indications. 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. The first application is a robotic surgical assistant for knee arthroplasties, a common and fast-growing intervention associated with high dissatisfaction rates of above 20%. Ganymed Robotics intends to progressively deploy its technology to address several other orthopedics indications. Ganymed Robotics won national and international innovation awards, such as I-Lab, French Tech Emergence, Deep Tech Pioneer, EIT Health, Wilco, EIC Accelerator. For more information: www.ganymedrobotics.com

About Investors

Cathay Health, affiliated to Cathay Capital, is a global fund investing at the convergence of healthcare, life sciences and technology. As a multi-stage €500M fund, it backs venture and growth-stage companies across Europe, North America and Asia whose tech-enabled solutions catalyze groundbreaking advances in medicine. 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. From the world’s leading life sciences and technology hubs, including San Francisco, New York, London, Cambridge, Paris, Basel and Shanghai, Cathay Health partners with future leaders in the data-driven medicine era that will transform human health and care in all its dimensions. Find more information here or follow us on LinkedIn, Twitter @CathayHealth

Crédit Mutuel Innovation is the venture capital subsidiary of Crédit Mutuel Equity (€3.5 billion of capital under management), part of Crédit Mutuel Alliance Fédérale. It invests tickets between €1m and €20m in innovative companies in the digital, life sciences and deeptech sectors. Crédit Mutuel Innovation enables entrepreneurs to develop their growth potential by connecting them to companies in the ecosystems it belongs. Because it takes more than five years to create a world leader, Crédit Mutuel Innovation invests (and often reinvests) its own capital on a long-term basis and builds long-term relationships with the entrepreneurs it supports. For more information: www.creditmutuel-equity.eu

Kurma Partners is a key European venture capital group specialized in healthcare, with €700 million under management, with three franchises: Kurma Diagnostics focused on diagnostic and digital health (current active fund Kurma Dx2), Kurma Biofund focused on therapeutic (current active fund KBIII), and more recently Kurma Growth Opportunities covering both sectors at a later stage of investments. Kurma Partners is part of the Eurazeo group.”

BNP Paribas Développement is an independent subsidiary of BNP Paribas which has for more than 30 years taken minority stakes in successful SMEs to support their growth and secure their long-term development by facilitating their transmission. In addition to providing the financial resources that permit stability, BNP Paribas Développement's mission is to assist management teams in carrying out strategic medium-term projects. As a minority shareholder we provide our partners with appropriate governance without interference in day-to-day management. They also benefit from the strength of a leading banking group and the experience of a partner with more than 400 diversified investments, including 70 startups. For more information: www.bnpparibasdeveloppement.com, https://www.linkedin.com/company/bnp-paribas-developpement

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Press contact
Strategies & Image (S&I)
Anne Rein
+33 6 03 35 92 05
anne.rein@strategiesimage.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Abionic Receives IVDR Certification for Its Predictive Ultra-Rapid Sepsis Test Allowing the Management of Antibiotic Administration9.8.2022 06:00:00 CEST | Press release

Abionic SA, a developer of disruptive nanotechnology-based diagnostic solutions, has announced that its Pancreatic Stone Protein (PSP) test on the abioSCOPE® has been certified by BSI certification agency as complying with the European In-vitro Diagnostic Regulation (IVDR), EU 2017/746. This certification granted by notified bodies like BSI is required for in-vitro diagnostics to continue being sold in the European Union. The IVDR’s extensive requirements were adopted by the European Parliament in 2017 and must now be implemented by May 26, 2022. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220808005159/en/ FIVE MINUTES TO SAVE LIVES - Immediate clinical decision-making at your fingertips (Photo: Business Wire) IVDR becomes mandatory as of May 26, 2022. There are also transitional rules that will allow well-established instruments that have not been IVDR certified, but that entered the EU before, to still be sold until 202

A Digital Twin of Kabuki Actor Shido Nakamura Created with NTT’s Another Me Technology Debuts at “Cho Kabuki 2022 Powered by NTT”9.8.2022 05:03:00 CEST | Press release

NTT Corporation (President: Akira Shimada, “NTT”) and Shochiku Co., Ltd. (President & CEO: Junichi Sakamoto) have announced "Cho Kabuki 2022 Powered by NTT" sponsored by Shochiku, with the first act starring Shido Nakamura's digital twin, “Shido Twin.” The debut of Shido Twin showcases NTT’s research and development of a computer that reproduces people as digital twins and is the first step in the social implementation of this new technology. We hope you will come and witness the birth of Shido Nakamura reproduced as a digital twin. Created in collaboration with Shochiku Co., Ltd., the Shido Twin autonomously reproduces the gestures of Shido Nakamura, who plays the leading role in Cho-kabuki, using the body motion generation technology of Another Me. Another Me is a technology born out of NTT’s Digital Twin Computing1 concept. With Another Me, we aim to allow individuals to create an “alternative self” in the digital space, dramatically increasing the opportunities to flourish and grow

IFF Reports Second Quarter 2022 Results8.8.2022 22:21:00 CEST | Press release

International Flavors & Fragrances Inc. (NYSE: IFF) reported financial results for the second quarter ended June 30, 2022. Management Commentary "We continued to execute on our near-term operational priorities to achieve strong top and bottom-line results in the second quarter," said IFF CEO Frank Clyburn. "Our teams have acted with urgency to implement necessary pricing actions in collaboration with our customers and delivered productivity benefits that offset on-going inflationary pressures. Going forward, we are preparing for more uncertain market conditions, yet remain confident in delivering our full year financial objectives. At the same time, we are advancing our strategic efforts, deploying innovation, refining our portfolio and strengthening our culture to deliver strong value creation for all our stakeholders. Reflecting our confidence, we are pleased to announce that we are raising our quarterly dividend. This marks thirteen years of consecutive dividend increases and unders

Waldom Electronics Announces New Advisory Board8.8.2022 20:30:00 CEST | Press release

Waldom Electronics is excited to announce the launch of its Advisory Board comprised of recognized leaders who will bring their knowledge and experience to the company. The Advisory Board will work closely with Don Akery, Waldom’s Chief Executive Officer, to help maximize performance with special focus on long term strategy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220805005440/en/ Kevin Rock (Photo: Business Wire) Waldom’s Chairman, Jamil Nizam stated, “In order to build on our significant growth over the last several years, I have been working diligently to create a world-class Advisory Board. I am thrilled to have assembled this board of exceptional individuals who will bring their skills, experience and objectivity to help Waldom realize its goals, vision and mission.” Waldom welcomes the following members to its Advisory Board: - Kevin Rock, Former President of TE Connectivity’s Industrial Solutions Segment with o

Sermo Barometer Reveals Growing Concern Among Global Physicians Regarding Monkeypox8.8.2022 16:00:00 CEST | Press release

With the spread of monkeypox on the rise and the World Health Organization (WHO) declaring a global health emergency, findings from a recent survey conducted by Sermo, a physician-first online community and leader in global HCP insights, show there is high concern about public misinformation spreading. The survey also found that while 71% of respondents would recommend vaccination as a preventative measure to a patient who was concerned about contracting monkeypox, 65% of doctors say their country does not have enough vaccines. The barometer survey included 1,011 physician respondents from 20 countries, with key findings including: Concerns About Misinformation Seventy-eight percent of physician respondents are concerned about the spread of monkeypox misinformation and 60% are concerned that monkeypox is being categorized incorrectly as a sexually transmitted disease, such as syphilis or HPV. Based on lessons from the COVID-19 pandemic, 36% feel public health authorities should priorit

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom