Hikma Pharmaceuticals’ venture capital arm, Hikma Ventures, has led an $15 million round of financing for Activ Surgical, a pioneering digital surgery imaging startup that is developing groundbreaking interoperative surgical intelligence hardware and software.
The investment is an extension of the Series B round that was previously announced by Activ Surgical in September 2021. This most recent financing, which also saw participation from existing investors, brings the total Series B round to $60 million.
Activ Surgical aims to revolutionize access to surgical care, enabling a future of augmented reality-based and artificial intelligence (AI)-driven surgery that is safe, smart, and accessible to all.
The company’s patent-protected surgical intelligence platform – ActivEdge – is being designed to reduce unintended and preventable surgical errors by enhancing a surgeon’s interoperative decision-making through the use of AI.
Activ Surgical’s first product – the ActivSight imaging module – seamlessly upgrades existing operating room equipment, serving as the “eyes” of the ActivEdge platform.
It allows surgeons to access critical intraoperative visual data as AR overlays. In 2021, the ActivSight imaging module was cleared by the FDA and successfully used in its first-in-human studies.
To date, multiple major hospital networks across the US and Europe have been established as pilot sites. The ActivSight imaging module is available now via a limited market release and will be broadly available in 2022.
Todd Usen, CEO, Activ Surgical, says: “Hikma Ventures’ investment in Activ Surgical comes at a critical inflection point in the company’s history as our team is hard at work preparing for the global launch of our ActivSight imaging module later this year.
“This investment will allow us to scale our business quickly and add resources needed to ensure a successful rollout of the ActivSight imaging module, helping to fulfil our mission to empower surgeons’ intraoperative decision-making and, ultimately, enhance patient safety. Hikma’s position in the global healthcare landscape helps validate our mission to provide better patient outcomes globally.”
Lana Ghanem, managing director of Hikma Ventures, says: “We are thrilled to invest in Activ Surgical and support their mission to democratize surgical care and to eliminate unintended surgical complications to improve patient outcomes and empower surgeons across the globe.
“This is the latest example of Hikma Ventures’ commitment to supporting pioneering companies utilizing cutting-edge technologies to meaningfully improve patients’ lives. We look forward to working with the talented Activ Surgical team to help them expand the global reach of their innovative platform to different geographies, especially the Middle East.”