RCS - Moon Surgical - Moon Surgical Appoints New Board Chair

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17/05/2023 14:15

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RNS Number : 6394Z  Moon Surgical  17 May 2023

Moon Surgical Appoints Fred Moll, MD, as Board Chair and Raises Additional
$55.4 Million in New Funding with Leading Investors Sofinnova Partners and
NVIDIA

Fresh financing to accelerate the commercialization of Maestro System

PARIS, FRANCE and SAN FRANCISCO, CA / ACCESSWIRE / May 17, 2023 / Moon
Surgical (https://pr.report/6f-S1PQm) , a French-American pioneer in
collaborative robotics, announced today that it has secured $55.4 million in
additional funding to support the continued development and planned
commercialization of its Maestro System.

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This most recent financing was co-led by Sofinnova Partners, through its
Sofinnova Capital Strategy, and NVIDIA's venture capital arm, NVentures, with
participation from Fred Moll, MD, and Josh Makower, MD. Also joining the round
were existing investors GT Healthcare Capital, Cathay Health, Johnson &
Johnson Innovation - JJDC, and Sofinnova Partners' MD Start, as well as Yann
Fleureau, Siddarth Satish, Sacha Loiseau, and Richard Leparmentier.

Moon Surgical is creating an entirely new category of Robotic Surgery with its
Maestro System, one that not only changes the scale at which robotics are used
but also improves the bottom line for providers and the quality of care for
patients.

"Not even a year after the last one, this new financing is extremely exciting
for us, as it will enable us to focus on the upcoming commercial launch of our
Maestro System," stated Anne Osdoit, CEO of Moon Surgical and a Partner in
Sofinnova Partners' MedTech accelerator, MD Start. "The support of Sofinnova
Partners, NVIDIA, Fred Moll, Josh Makower, and our existing investor base is
further validation of the mission of Moon Surgical and the achievements of our
team."

With the funding, Moon Surgical also announced the appointment of Fred Moll,
MD, as an independent Chair of the Board. Gérard Hascoët will remain a Board
Director.

"Surgery by its nature involves more than two hands. With Maestro, the surgeon
can fully control the tasks that would otherwise be done by an assistant but
in a much more fluid and more convenient way," said Fred Moll, MD. "It's a
capability that has not been developed before in Robotic Surgery and delivers
value in any operating room where laparoscopy is performed."

As part of the financing, Antoine Papiernik, Chairman of Sofinnova Partners,
will be joining Moon Surgical's Board of Directors, while Mohamed (Sid)
Siddeek, Corporate Vice President and Head of NVentures (NVIDIA), and Steve
Oesterle, MD, Venture Partner of Cathay Health, will join as Board Observers.

"Sofinnova Partners has always supported ambitious, world-leading,
category-creating companies which deliver on the promise of their unique
technology. Moon Surgical is a prime example," commented Antoine Papiernik,
Chairman, and Managing Partner of Sofinnova Partners. "We believe in this
team's capacity to bring Maestro to the market and revolutionize the surgical
robotics landscape by combining their experience and insights in the needs of
the surgeon, patient, and provider."

"The application of robotics in surgery will continue to revolutionize
healthcare," said Mohamed "Sid" Siddeek, Corporate Vice President and Head of
NVentures, NVIDIA. "We are confident in Moon Surgical's capabilities to
deliver a unique and innovative solution to the market."

The financing round comes on the heels of the company's other notable
accomplishments, which include Maestro's CE Mark this past April, and 510(k)
clearance in December of 2022.

Moon Surgical raised $31 million in Series A funding in June 2022.

About Moon Surgical

Moon Surgical, based in Paris, France, and San Francisco, California, believes
the future of the operating room lies in the hands of the empowered surgeon.

By equipping surgeons with complete control, renewed confidence, and
technology adaptable to any situation they encounter, Moon Surgical strives to
improve efficiency in operating rooms and provide better surgical care for
patients. The minimalistic, co-manipulation Maestro System uses tomorrow's
technology to deliver this capability today.

Professor Brice Gayet, a world-renowned laparoscopic surgeon, founded Moon
Surgical in 2019. The company was incubated by Sofinnova Partners' MD Start in
2020.

www.moonsurgical.com (https://pr.report/lw9uWYEp)

About Sofinnova Partners

Sofinnova Partners is a leading European venture capital firm in life
sciences, specializing in healthcare and sustainability. Based in Paris,
London and Milan, the firm brings together a team of professionals from all
over the world with strong scientific, medical and business expertise.
Sofinnova Partners is a hands-on company builder across the entire value chain
of life sciences investments, from seed to later-stage. The firm actively
partners with ambitious entrepreneurs as a lead or cornerstone investor to
develop transformative innovations that have the potential to positively
impact our collective future.

Founded in 1972, Sofinnova Partners is a deeply established venture capital
firm in Europe, with 50 years of experience backing over 500 companies and
creating market leaders around the globe. Today, Sofinnova Partners has over
€2.5 billion under management. For more information, please
visit: sofinnovapartners.com (https://pr.report/iG5PY06f) .

Contact

Investors and Media: info@moonsurgical.com (mailto:info@moonsurgical.com)

Moon Surgical(®) and Maestro(®) are registered trademarks of Moon
Surgical, SAS.

SOURCE: Moon Surgical

 

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