Zurich-based Nanoflex Robotics, a company that provides advanced medical robotic interventions for treating ischemic stroke, announced that it has raised over €11.23M in a Series A round of funding.
The medtech startup says it will use the funds to roll out its first-generation system to market and accelerate the development of new neuro-interventional products.
The round was led by Ascend Capital Partners, a VC and financial advisory firm that works with companies that have the potential to grow and expand internationally, particularly in Europe, Asia, and the US.
Founded by Prof Bradley Nelson, Dr Christophe Chautems and Matt Curran, Nanoflex Robotics’ technology generates and controls electromagnetic fields for endovascular navigation of magnetic devices.
Its products aim to diagnose and treat vascular disease, including acute ischemic stroke, in a timely and safe manner.
The initial product from Nanoflex will be a compact and portable electromagnetic field generator that can be moved easily between hospital interventional suites and will not require a high-voltage power connection or access to a water-based cooling system.
According to the company, the system enables direct tip control of magnetically adapted interventional devices in comparison to conventional procedures where torque is often transferred more than a metre along the length of devices to regulate tip direction.
Nanoflex Robotics was founded in November 2021 as a spin-off of the Multi-Scale Robotics Lab at ETH Zurich.
The technology developed by the company is the result of more than 20 years of study at ETH Zurich, the Swiss Federal Institute of Technology. Wyss Zurich and ETH Zurich have both continued to support the initiative.
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