Alesi Surgical – a UK-based company with a novel technology to manage smoke created by surgical tools in operating theatres – has raised £5m in a funding round led by Mercia Ventures and including existing investors IP Group and Panakès Partners.
The latest funding, which brings the total raised by the company to date to over £21m, comes as Alesi has secured FDA clearance in the US for the IonPencil, the first surgical tool to incorporate its technology for use in routine surgery, which represents approximately 80% of all surgical procedures.
The hazards of smoke generated by electronic surgical tools are increasingly being recognised. Smoke reduces visibility and fogs cameras during keyhole surgery, interrupting workflow. It also creates health risks for theatre staff due to the presence of toxins and viruses in human tissue.
Legislation has already been passed in 18 US states requiring a smoke management policy in all surgical procedures, with more expected to follow. However current techniques, such as extraction tubes which must be attached to surgical instruments, are cumbersome, noisy and unpopular with surgeons.
Alesi’s system uses electrical filtration to remove surgical smoke from the atmosphere. Its first-generation Ultravision system was designed for laparoscopic surgery and has been used in over 40,000 procedures. Independent research has shown that it is 23 times better than alternative solutions at minimising smoke release during laparoscopies and that it captures and reduces the infectivity of viruses in the smoke.
The latest version, Ultravision2, which is FDA approved, is a platform technology that can be integrated into surgical tools and existing theatre equipment. Its first integrated tool, for use in laparoscopic surgery, already has FDA approval and the launch of the IonPencil for routine surgery means it now offers smoke management solutions for all surgical procedures that create smoke. There are over 40 million such procedures performed in the USA, Europe, and Japan every year.
A spin-out from Cardiff University, Alesi is based at the Cardiff Medicentre and currently has a 15-strong team. The latest funding will enable it to drive sales in the US market and to seek regulatory approvals for its products in Europe and Japan.
Dominic Griffiths, CEO of Alesi Surgical, commented: “We have been overwhelmed with the positive feedback we received from surgeons during the development of the IonPencil. As they have been reluctant to adopt the current systems, we believe our device will greatly improve compliance with new legislation. We are also pleased to welcome Mercia Ventures as a new investor alongside our existing investors and are eager to put this latest capital to good use to fuel our future growth.”
Robert Hornby, Investor Director at Mercia Ventures, added: “The introduction of new regulations will drive uptake of smoke management solutions in the years ahead. Alesi’s technology offers many advantages over current systems. The company has already established a name for itself with its laparoscopy systems but the introduction of the IonPencil will open up a much wider market. We look forward to supporting Dominic and the team in this new chapter in the company’s growth.”
ENDS
About Mercia Ventures
Mercia Ventures is a proactive venture capital investor focused on being the first-choice partner for growth. Mercia Ventures makes equity investments of up to £10million across all sectors, with specialisms in Software, Consumer, Healthcare and Deep Tech.
Mercia Ventures is part of Mercia Asset Management PLC and sits alongside its wider private equity, debt and proprietary balance sheet capital operations. The Group has 11 offices in the UK and Mercia Ventures’ national footprint and 48 strong investment team draws on their experiences as founders, PhD scientists, software engineers, corporate financiers and management consultants to help its partner companies successfully achieve their ambitions. www.mercia.co.uk
About IP Group
IP Group accelerates the impact of science for a better future. As the most active UK based, early stage science investor, we develop and support some of the world’s most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK’s largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach. Together we have a strong track record of success, having backed high-profile companies including Oxford Nanopore Technologies plc, First Light Fusion, Hysata, and Oxa. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO. www.ipgroupplc.com
About Panakès Partners
Panakès Partners is a Venture Capital firm, based in Milan, which invests in the most ambitious companies and teams, developing revolutionary technologies and products, in the field of life sciences, aiming to improve the lives of people around the world. Panakès, founded in 2015 by Fabrizio Landi, Alessio Beverina and Diana Saraceni, has €250 million under management. www.panakes.it
