ETH medtech spinoff secures USD 12 million

Nanoflex Robotics, the developer of a soft medical robotic system for treating neurovascular and vascular diseases, has raised USD 12 million. With Ascend Capital Partners leading the round, the funds will enable the startup to bring its first-generation system to market and accelerate the development of new neuro-interventional products. The funds will also drive the first-in-human trials and regulatory clearance.

Besides Ascend Capital Partners, an international venture capital firm focused on investments in MedTech and Mobility early-stage tech companies, Nanoflex Robotics' financing round was supported by European-based family offices, including Kinled Holding Ltd, an experienced medical device/robotics investor with a significant track record of identifying successful spin-outs from EPFL/ETH Zurich, and Mountain Labs AG, an incubator specialised in funding innovative technology. The project continues to receive support from ETH Zurich and Wyss Zurich.

Nanoflex Robotics is a Zurich-based based MedTech start-up developing a proprietary robotic platform to navigate magnetic devices in complex vascular anatomy using precise electromagnetic fields. Its portfolio of products is intended to diagnose and treat vascular disease, including acute ischemic stroke, in a timely and safe manner.

Its first product will be a compact and mobile electromagnetic field generator that can easily be moved between hospital interventional suites, requiring no additional infrastructure beyond a high-voltage electrical point and access to a water-based cooling system. The system allows direct tip control of magnetically adapted interventional devices, in contrast to conventional procedures where torque must often be transferred more than a meter down the length of devices to control tip direction. The fresh funds will enable the company to take the next steps, including initiating its clinical trials and seeking regulatory approval from the US Food and Drug Administration. This will accelerate the time to market for its first-generation system and further development of new neuro-interventional products.

Nanoflex Robotics was founded in Zurich in 2021 as a spinoff of the Multi-Scale Robotics Lab at ETH Zurich, based on more than 20 years of research. The founding team comprises Bradley Nelson, Christophe Chautems and Matt Curran.

"Nanoflex Robotics aims to revolutionize catheter-based treatment of neurovascular and vascular disease by enabling faster and safer access to target sites in the vasculature. Our robotic system allows precise and flexible steering of magnetically-adapted guide wires and catheters, while potentially decreasing X-ray exposure for the physician," said Matt Curran, CEO of Nanoflex Robotics. 

(Press release/RAN)