Crescent Enterprises has put $16m into ColubrisMX and XCatch, both of which are developing robotic medical devices based on research at University of Texas.
Crescent Enterprises Venture Capital (CEVC), the investment arm of diversified conglomerate Crescent Enterprises, has invested $16m in series A funding in US-based medical device developers ColubrisMX and XCath, Arabian Gazette reported yesterday.
The report did not specify how much capital each individual spinout has received.
Both companies are based on technology developed at University of Texas Medical School’s Microsurgical Robotics Laboratory and were founded by Daniel Kim, professor of neurosurgery.
ColubrisMX is developing a microsurgical robotic device to treat conditions…
