In June 2014, Cipher Surgical successfully raised £511,500 to optimise the OpClear device and to expand its post-launch market.
Cipher Surgical has developed a unique piece of technology to make keyhole surgery (laparoscopy) quicker and safer for both surgeon and patient. The OpClear device aims to solve one of the main problems during such procedures: how to keep a laparoscope’s lens clear of contamination during an operation without its removal from a patient for cleaning.
Cipher Surgical is headed up by Andrew Newell. Andrew worked as a venture capitalist for over 23 years, specialising in intellectual property, most recently within the healthcare field. He has founded, invested in and/or advised over 30 companies across Europe, North America and Asia.
The lead investors in this round were David and Susan Rhodes, owners of a successful medical device distribution business in the UK; Chris Emmett, a retired consultant anaesthetist; and Midven and Exomedica, leading investors in medical devices, and members of Minerva Business Angel Network.
Where are they now?
Since closing their first round on SyndicateRoom, Cipher Surgical has secured Methodist Houston Hospital as its US partner, been granted further patents in Europe & Japan and commenced US FDA approval. Furthermore, the optimised version of OpClear has been successfully tested, and the company has made repeat sales from early adopter accounts (Kings College Hospital).
Cipher Surgical has since closed a second funding round on SyndicateRoom, details of which can be found here.