AiM Medical Robotics this week unveiled a prototype of its robotics platform and announced it has received cash from the Sontag Innovation Fund, a wholly-owned venture subsidiary of The Sontag Foundation, a funder of brain cancer research in the U.S.
Fort Launderdale, Fla.- based Aim Medical Robotics is developing a portable magnetic resonance imaging (MRI) compatible surgical robot for use in the MRI Suite and the operating room.
“Our mission is to improve outcomes for patients undergoing neurosurgery for functional brain disorders (Parkinson’s, epilepsy, etc) and cancer while providing cost savings to hospitals by eliminating errors and reducing procedure time by up to 50%,” the company said.
In March, the company announced that it has raised $3.4 million in seed funding, which it said it will use to accelerate the development of its platform.
“The prototype is a testament to the progress that our company has made so far, bringing us closer to our goal of improving outcomes for patients undergoing neurosurgery and providing cost savings to hospitals by eliminating errors and reducing procedure times,” said Bob Cathcart, CEO of AiM. “The Sontag Foundation's commitment to fund innovative advancements towards the treatment of brain tumors perfectly aligns with AiM's core values, and we look forward to a fruitful collaboration.”
The company did not share further details of the prototype in the release or how much money it received from Sontag Innovation Fund, but Robotics 24/7 has reached out to the company for comment.
Grand View Research attributes the rise in surgical robotics, in part, due to a shortage of doctors and surgeons, noting that the global surgical robotics market was valued at $3.6 billion in 2021. It expected to grow at a compound annual growth rate (CAGR) of 19.3% from 2022 to 2030.
Robot makers argue there are many benefits to surgical robots and have been proven to improve patient outcomes and help health care operations save money.
A positive impact on the lives of those with neurological conditions
The Sontag Innovation Fund, which is based in Ponte Vedra Beach, Fla., said it invests in early stage and innovative technologies with the potential to drive cures and improve the quality of life or life expectancy for brain cancer patients.
“Dr. Pilitsis, Prof. Fischer, and the AiM team are developing a groundbreaking and innovative MRI-compatible robotics platform that has the potential to impact the lives of patients across neurological disorders,” said Scott Davis, senior associate of the Sontag Innovation Fund. “We are encouraged by the team and this technology and hope the investment will attract additional external capital to improve the health status of brain cancer patients.”
The Sontag Foundation has provided over $50 million dollars since its inception in 2002. Its signature Distinguished Scientist Award has supported 61 researchers at 34 major academic institutions. The Sontag Foundation is also the founding sponsor of the Brain Tumor Network, a non-profit provider of personalized brain tumor patient navigation services.
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