ForSight Robotics Secures $125M in Series B Funding, Addressing Global Surgeon Shortage and Exploding Demand for Ophthalmic Surgery
YOKNEAM ILLIT, Israel--(BUSINESS WIRE)-- ForSight Robotics, the pioneer in ophthalmic robotic surgery, announced today it completed a $125M Series B round, led by Eclipse. The investment accelerates the next growth phase for the ORYOM™ Platform, the world's first robotic surgery platform for cataract and other eye diseases designed to enhance surgical precision, increase patient access to high-quality treatment, and decrease the physical burden on surgeons, as the company prepares to launch first-in-human clinical trials this year. In addition to Eclipse, the funding round included significant participation from an undisclosed strategic investor, as well as Dr. Fred Moll, the Adani Group, Reiya Ventures, and other existing investors – bringing ForSight Robotics' total funding to $195M.
'We see ophthalmology as the next frontier in the robotics revolution – much like general surgery was before the rise of Intuitive Surgical. With a comparable market size and an urgent global need, our opportunity ahead is immense,' said Dr. Joseph Nathan.
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'We see ophthalmology as the next frontier in the robotics revolution – much like general surgery was before the rise of Intuitive Surgical. With a comparable market size and an urgent global need, our opportunity ahead is immense,' said Dr. Joseph Nathan, ForSight Robotics' co-founder, president, and Chief Medical Officer. 'Through our latest funding round, we will bring the same level of transformative impact to eye surgery, with technology designed specifically for its unique precision and complexity.'
The global vision crisis, in which over one billion people suffer from preventable vision impairment and avoidable blindness, is punctuated by a limited and declining ophthalmologist workforce. Globally, there are only 31.7 ophthalmologists per million population and 14.1 cataract surgeons per million population. By 2035, the industry expects a 12% decline in ophthalmologists, while demand is projected to increase by 24%. At the same time, over 600 million patients suffer from cataract, and only 30 million of these patients receive surgical treatment. In the U.S. alone, only four million cataract surgeries are performed annually, highlighting the disparity between the number of patients requiring sight-saving treatment and the insufficient surgeon pool.
The ORYOM™ Platform is engineered for highly precise and consistent ophthalmic procedures, beginning with cataract. Utilizing AI-based algorithms, advanced computer vision, and micromechanics, the robotic surgery platform aims to deliver unprecedented dexterity and maneuverability while providing surgeons with an improved ergonomic experience. The ORYOM™ Platform can reach any point within the human eye, allowing surgeons to navigate complex angles and ensuring access to both anterior and posterior segments, setting the stage for glaucoma and retinal surgical treatment.
'ForSight Robotics is at the forefront of a transformation in surgical robotics, and the potential impact of its technology on global eye care is extraordinary,' said Seth Winterroth, partner at Eclipse. "The company is tapping into a massive, underserved market with a breakthrough approach to ophthalmic surgery, positioning itself to set a new standard in eye care and drive innovation on a global scale."
The Series B funding follows a period of rapid growth and key company achievements. Over the past year, ForSight Robotics – founded by Prof. Moshe Shoham, Dr. Daniel Glozman, and Dr. Joseph Nathan – has expanded its executive team, achieved ISO 13485:2016 certification, a critical regulatory milestone demonstrating the company's commitment to safety and quality, and doubled in size, surpassing 110 employees as it grows to meet increasing demand. To date, over two dozen ophthalmic surgeons have successfully completed hundreds of procedures on animal eye models with the ORYOM™ Platform. ForSight Robotics is set to begin robotic cataract surgery clinical trials in the coming year.
As the company scales, the founding team has convened a strategic advisory board of the preeminent leaders in surgical robotics, including Dr. Fred Moll, the founder of Intuitive Surgical and the da Vinci surgical system, who is widely regarded as the 'father of surgical robotics,' and Mr. Rony Abovitz, the founder of MAKO Surgical Corp. Dr. Fred Moll recently joined the company's board of directors. Additionally, ForSight Robotics benefits from the expertise of a world-class clinical advisory board that includes Dr. David Chang, Dr. Vance Thompson, Prof. Boris Malyugin, Dr. Sam Garg, and Dr. Modi Naftali.
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About ForSight Robotics Ltd.:
ForSight Robotics is a surgical robotics company pioneering world-class technology to democratize quality surgical eye care. The Israel-based company is developing the ORYOM™ Platform ('daylight' in Hebrew), the world's first robotic surgery platform for cataract and widespread eye diseases, which will utilize AI-based algorithms, advanced computer vision, and micromechanics. Backed by globally recognized VCs and industry leaders, ForSight Robotics is redefining ophthalmic surgery and bringing hope to millions of patients worldwide. To learn more, visit forsightrobotics.com and follow us on LinkedIn.
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