MintzTech Connect Industry News: Spotlight on Surgimatix, Inc

Surgimatix, our client spotlight this month, developed what can only be called a novel solution. Surgimatix is an early-stage medical device company pioneering the first proprietary laparoscopic device that delivers suture-like fixation in seconds.

Suturing is the gold standard for fixation of tissue in surgical procedures. For procedures performed laparoscopically, however, suturing is very difficult. It is: (1) a tedious and time-consuming task, (2) a great candidate for automation due to its challenges and repetitiveness, and (3) inefficiently comprised of seven steps to throw one stitch. Alongside these key observations come a few areas of complexity, stemming from limited access, differences in anatomy and tissue, and limitations for the surgeon in performing laparoscopic and robot-assisted surgeries. Surgimatix’s solution solves these concerns with a suture-like fixation accomplished in seconds.

Surgimatix was co-founded by Jafar Hasan, MD, who is responsible for creating and demonstrating the potential of this first-of-its kind innovation in surgical fixation. Today, Surgimatix is led by CEO and Interim CFO, Jane Kiernan, an experienced public company Board Director with over 35 years of executive and management leadership with both public and private companies in the health care field. Alongside Kiernan are the leadership team of Steven Ek, the company’s Chief Technology Officer, and Michael Shoup, the company’s VP of Operations, QA/RA, clinical advisors that include Karen Noblett, MD, and contract manufacturing partners. In addition, experienced medical device operators and financiers serve as advisors to the board of directors. Everyone is working together to bring the mission of Surgimatix to fruition.

Prior to the Series A round, Surgimatix raised $5 million which enabled the company to build a robust portfolio of IP, and a device that gained FDA 510(k) clearance. Surgimatix raised a Series A round, in the amount of $6.1 million, with proceeds deployed to a redesign and development of the device for manufacturability, ergonomics, and target unit cost economics. Laparoscopic sacrocolpopexy for pelvic organ prolapse is the first target use case. The product/market fit is compelling as fixation, or time to suture mesh-tissue, is 50% of the total procedure time. It is possible that with Surgimatix’s device, the fixation step alone may take minutes, versus 30 minutes to 1 hour to place 16-18 stitches.

After a successful initial Series A round, Surgimatix initiated raising an extension to their Series A financing, with the goal of building the first 140 pilot devices and executing a limited release–first use in humans at 30 cases in the US by 2026.

To learn more about how Surgimatix is revolutionizing fixation in minimally invasive procedures, visit www.surgimatix.com.

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