The spinout is working on a robotic arm for removing gastrointestinal cancer tumours without the need for an operational incision.
EndoMaster, a Singapore-based medtech developer spun out from National University of Singapore (NUS) and Nanyang Technological University (NTU), has secured S$20.5m ($15.1m) in series B funding, the Business Times reported today.
The investors in the round have not been identified.
EndoMaster has built a robotic arm that removes cancer tumours from gastrointestinal areas around the stomach by accessing the body’s existing openings rather than using an operational incision.
The business claims clinical tests suggested the tool could bring the frequency of surgical complications to below 5% and reduce the time patients spend in hospital to less than a day.
The cash will be used for further scaling of the business. EndoMaster expects to launch the product in Europe by late-2018 and is targeting turnover of S$100m within five years.
The spinout was founded by Louis Phee, professor of mechanical engineering at NUS, and Ho Khek Yu, chair of NTU’s University Medicine Cluster.
Optical product manufacturer Hoya Corporation invested an undisclosed sum in 2013.
Louis Phee said: “In the future, we aim to perform more ‘no-hole’ surgeries on other major organs. The cost and medical benefits are apparent.”
