Medical device company TransEnterix [a CED Member] is closing in on a $15 million round of fundraising as the firm continues to build sales for its minimally invasive surgical system.
Securities filings show that TransEnterix has raised $14.9 million in the equity round, which opened on November 30 and included participation from nine investors. Including the current fundraising round, TransEnterix’s venture capital haul is more than $75 million.
Investors in the company, which is based in Research Triangle Park, include: Aisling Capital, Intersouth Partners, Quaker Partners, SV Life Science Advisers, Synergy Life Science Partners and Parish Capital Advisors.
TransEnterix has developed and commercialized a surgical system that requires only a small incision to enter the body through the bellybutton. BCC Research estimates that the global laparoscopy market was $6.8 billion in 2011 and is projected to reach $10.6 billion in 2016.
The TransEnterix Single Port Instrument Delivery Extended Reach, or SPIDER Surgical System gives surgeons 360-degree motion in a device the diameter of a dime. Once inside, the SPIDER opens like an umbrella giving surgeons the flexibility and capability to perform a variety of abdominal procedures. The single incision reduces patient scarring and also means quicker recovery time.