Quantum Surgical, an innovative medical robotic company, announced today that it has secured €40 million (US$48 million) of financing. Led by existing key investor Ally Bridge Group (“ABG”) with an investment of €20 million (US$24 million), this round also includes funding from the European Investment Bank, Bpifrance, and Caisse d’Epargne Languedoc Roussillon. This brings the total amount of funds completed by Quantum Surgical to €50 million since its inception.
Following CE mark approval announced in September, this funding will support company’s operations dedicated to the commercial launch of Epione®, a medical robot designed to assist physicians in performing safer and more efficient percutaneous tumor ablations in the abdomen. Epione® aims to allow more patients to benefit from minimally invasive liver cancer treatment, a technique consisting of inserting a needle percutaneously to burn a tumor.
“We are delighted to have closed this round of financing and honored by the strong, continued support of our key long-term investor Ally Bridge Group all the way since the days of our previous company Medtech SA just before its acquisition by Zimmer Biomet in 2016. These additional funds will support the company to accelerate the clinical adoption of Epione®, our medical robot for liver cancer treatment,” said Bertin NAHUM, CEO, and co-founder of Quantum Surgical.
“As an early investor of Quantum Surgical, ABG is proud to continue to support the company’s impressive achievement throughout the Covid-19 pandemic, evidenced by its recent CE mark approval,” said Frank Yu, Founder, CEO and CIO at Ally Bridge Group. “We expect to see significant milestones to be achieved by Quantum in the near term that will allow Epione® to treat more liver cancer patients sooner and better than the current standard of care.”
“The EIB is pleased to contribute to the development of Quantum Surgical and its innovative technology to improve the treatment of liver cancer. Against the continued Covid-19 challenges, this €15 million funding, with the backing of the Pan European Guarantee Fund (EGF), demonstrates Europe’s focus on supporting innovation and promising technologies in the field of healthcare, an area that is essential for people’s well-being”, said Ambroise Fayolle, vice-president of the European Investment Bank.
About Quantum Surgical
Quantum Surgical is an innovative medical robotics company committed to contributing to the development of tomorrow’s healthcare. It aims to set new standards in cancer treatment by allowing more patients to benefit from innovative, targeted and less invasive treatments.
Quantum Surgical is introducing Epione®, a unique medical robot designed to assist physicians plan, guide, and assess percutaneous ablation of tumors in the abdomen, a technique in which a needle is inserted through the skin to the tumor to burn it.
Co-founded in 2017 by Bertin NAHUM, Quantum Surgical is headquartered in Montpellier, France.
About Ally Bridge Group
Ally Bridge Group (the “Firm”) is a global healthcare investment management firm focused on high-impact life science innovation across private and public markets. The Firm was founded in 2013 by Frank Yu, Chief Executive Officer and Chief Investment Officer, with offices in New York and Hong Kong. Through its scientific and clinical research overlaid with M&A and capital markets expertise, Ally Bridge Group seeks to capture investment opportunities across the capital structure addressing unmet medical needs.
For more information, please visit https://www.ally-bridge.com
The European Investment Bank (EIB) is the long-term financing institution of the European Union (EU), and its shareholders are the 27 EU Member States. The EIB’s remit is to contribute towards the integration, balanced development and economic and social cohesion of the EU Member States. It borrows large volumes of funds on the capital markets and lends them on very favourable terms to support projects that contribute to attaining the European Union’s objectives. The EIB is working to ensure that the European Union is on the cutting edge of the next wave of innovation, particularly in the healthcare sector. As the EU climate bank, the EIB is one of the leading providers of funding for investments in the green transition to a more low-carbon and sustainable growth model.
For more information, please visit www.eib.org/press