A leading developer of MRI-compatible intraoperative robotics for neurosurgery, AiM Medical Robotics, has announced successful seed funding of $3.4M to advance the development of its neurosurgery capable and MRI-compatible robot.
The funding was led by London-based IQ Captial and Surrey Capital Partners. AiM medical Robotics fits into investors’ portfolios as an early-stage deep-tech business, that uses a hard-to-replicate technology.
AiM Medical intends on using these funds to accelerate the development of its industry-first MRI-compatible robotics platform. AiM’s platform is designed to improve the outcomes for neurosurgery patients and provide cost savings to hospitals by eliminating errors and reducing procedure times. The company plans to also expand its team across research, engineering, and clinical and medical affairs.
Innovating in robot-assisted surgery
Having identified the incompatibility of often expensive traditional approaches in robot-assisted technology with surgical workflows, as well as their incapability to meaningfully improve patients’ chances, AiM was presented with an opportunity. AiM has designed a platform that is cost-effective, streamlined and differentiated in its ability to help improve outcomes for patients undergoing neurosurgery for functional brain disorders such as Parkinson’s and Epilepsy, as well as cancer.
“AiM’s groundbreaking technology has the potential to transform surgery as we know it, to the great benefit of patients globally,” said Ed Stacey, Managing Partner at IQ Capital. “Built on over a decade of academic research and development, AiM’s MRI-compatible robotics platform opens the door to unprecedented levels of surgical precision and novel categories of surgical procedures.
AiM Medical Robotics at a glance
AiM was founded in 2018 by Craig Pierson, Gregory Fischer, Julie Pilitsis and Robert Cathcart as a privately held biotechnology company focused on the development of MRI compatible advanced robotics that is precision-focused, portable and can be used with any diagnostic MRI scanner. In AiM’s mission to achieve cost-efficient outcomes for patients undergoing neurosurgery, AiM also hopes to reduce procedure time by 50%.
In March 2022, AiM announced the appointment of Dr Jonathan Sackier as its Chief Medical Officer (CMO), coming on the heels of AiM’s announcement of the appointment of Gregory Cole PhD, as its Chief Technology Officer (CTO). The company was selected as a Featured Innovator at the Life Science Intelligence Emerging MedTech Summit, 2022, and will be presenting at an event taking place from March 15th to March 18th in Dana Point, CA.
“AiM is on an exciting journey to develop and commercialize an industry-first in robot-assisted surgery with our MRI-compatible robotics platform,” said Bob Cathcart, CEO of AiM. “I am honoured to have the support of our investors as we continue building our team of experts in robotics and medicine, and as we work towards our north star of improving patient outcomes in neurosurgery.”