Company: Memic Ltd.
Who is Memic?
Memic Ltd is a developer of innovative robotic surgical solutions based on a novel design which enables maximum precision and control for a new surgical approach in Laparoscopic procedures currently considered infeasible.
Based in Tel Aviv, Israel, Memic was founded in 2012 by serial entrepreneur Dr. Nir Shvalb and Ariel Tech Transfer Company in conjunction with Martal Consulting LLC. Both companies have extensive experience in technology development.
The Role of the Israel Innovation Authority
With financing and entrepreneurial guidance from the Israeli Innovation Authority’s Incubator Incentive Program, Memic secured investment partnerships with Incentive Incubator Ltd., an award winning Israeli technological incubator with an exceptional track record of nurturing seed-stage companies to success, as well as Accelmed, a private equity investment firm focused on developing innovative medical devices solutions for major markets.
While Laparoscopic surgery is becoming one of the most preferred options in modern day surgery, certain factors currently limit its widespread usage. The standard long instruments typically applied in Laparoscopic surgery do not enable pinpoint access for many complex laparoscopic procedures. In addition, Laparoscopic surgeons are forced to work on a two-dimensional flat video display, as opposed to the usual three-dimensional operating field. For some procedures the poor depth perception that is associated with two dimensional images further limits the maneuverability of standard Laparoscopic instruments handling delicate tissues.
Memic is dedicated to developing and delivering innovative robotic surgical solutions that enable SILS (Single Incision Laparoscopic Surgery) and NOTES (Natural Orifice Translumenal Endoscopic Surgery) procedures to be performed using a mobilized and compact robotic surgical unit (about the size of a coke bottle compared to today’s standard robotic unit which measure 2 x 1.5 x 1.5 meter). Memic's advanced robotic technology is composed of miniature, humanoid shaped arms that mimic human dexterity and flexibility, and thus offering unprecedented maneuverability. The robotic arms can be controlled via various proprietary control consoles to maintain natural control of the humanoid arms. Surgeons can thus operate precisely in the tightest of anatomical spaces without risk to nearby organs and tissue.
At the conclusion of the Incubator stage Memic was able to fundraise above and beyond the anticipated amount, reaching impressively high levels. Memic is now moving forward with clinical trials and regulatory clearances, and is primed to become only the second robotics solutions company in the world with FDA approval for Laparoscopic surgeries.