Advanced Osteotomy Tools AG (AOT) raises Major Additional Funding in Series C Capital Increase
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Basel based, privately held medical device company AOT, pioneering the field of robotic bone surgery using cold laser photoablation, secured nearly CHF 8 million in the first closing of their internally lead Series C financing round, with substantially more funding already lining up for an extended subscription period open for some weeks. This latest round of funding, with strong participation by existing investors, will fund AOT’s efforts at CE certification of the CARLO™ system and its launch in the European market.
Prior to AOT’s groundbreaking invention of cold laser photoablation of bone, more than 50 years of research into laser technology built an impressive track record in dermatologic, ophthalmologic and other medical laser applications. However, the field had not succeeded in finding a workable laser osteotomy solution for leaving biological structures intact and vital at bone cut surfaces.AOT’s CARLO™ system (Cold Ablation Robot-guided Laser Osteotome) combines this new laser technology with a lightweight, tactile robot and complex 3D planning and control software into a relatively small and ergonomic system that integrates well into the surgical workplace and leaves the surgeon in control of this universal osteotomy tool at all times.
CARLO™ is expected to become the first medically certified, tactile robot worldwide able to cut bone cold and contact free with a laser. The device enables the surgeon to bring superhuman precision into the OR, allowing freely defined, non-symmetrical osteotomy lines customized to individual patients. A new generation robot, specially designed for safe collaboration with humans, ensures utmost safety for patient and surgeon and is a “true” robot with potential for broad medical applications compared to current telemanipulators (often incorrectly termed “surgical robots”), the most prevalent of which are specialized in minimally invasive abdominal surgery.
AOT’s Alfredo E. Bruno (CEO and co-founder) stated that “The strong results of Series C financing will allow AOT to complete instrumental development and focus on preclinical and clinical development. The first registration and market launch will focus on Europe, but worldwide patent coverage is available and market introductions will follow.”
SHS’ managing director, Bernhard Schirmers stated that “AOT’s CARLO™ system has already demonstrated excellent results in preclinical tests and we believe it to be a major innovation with broad usability and, ultimately, huge market potential”.
About AOT AG
Advanced Osteotomy Tools AG, AOT is based in Basel, Switzerland. Founded in 2010, it has attracted substantial funding from diverse sources including expert MedTech investors. AOT has attracted major Swiss prizes and awards, like the Pionierpreis of Technopark ZH and ZKB, and the CTI Swiss Technology award; and AOT has received broad coverage in the press and on Swiss television. In 2010 AOT has won the final of Venture Kick and in the years 2011 until 2015 AOT was represented in the TOP 100 Swiss Startups. AOT aims to help surgeons re-invent osteotomy by replacing mechanical tools to cut human bone tissues using lasers. The core technologies mastered by AOT to achieve its mission are a novel and efficient laser photoablation mechanism, navigation, planning, and image-guided software for robotic surgery and optical methods for real-time depth-control during photoablation.