Panda Surgical secures £1m investment to advance neurosurgical robotics platform

UCLB spinout Panda Surgical, a pioneering developer of handheld robots for minimally invasive neurosurgery, has successfully closed a £1 million strategic investment round.

The round was led by Oxford Investment Consultants (Oxford, UK) and included participation from New Wave Ventures (London, UK), both renowned venture capital firms with a history of supporting breakthrough medical technologies.

UCLB helped establish Panda Surgical in 2022, also played a key role in this investment. The round saw additional support from US and European neurosurgeons and operators.

Weng Sie Wong, Senior Business Manager, Physical Sciences & Engineering said: “This investment means Panda can continue to the next stages of trials, which is fantastic news for advancing complex surgery. I’m pleased that UCLB were able to support the company’s early journey to market by investing, alongside others, through the UCLB PoC and Seed Fund. It’s a great example of the impactful nature of research and commercial potential that comes out of UCL.”

Panda Surgical is at the forefront of developing the world’s first dexterous robot for minimally invasive neurosurgery. This innovative technology aims to enhance surgeons’ dexterity and decision-making, making complex operations safer, more effective, and more widely adopted.

The Panda Surgical system features a novel handheld robotic platform with detachable wristed instruments as small as 3mm in diameter. By combining robotic dexterity with the familiarity of handheld tools, the platform is designed to enable more neurosurgeons to perform intricate procedures in the brain and spine.

“This investment reflects the strong confidence our investors have in our technology, team, and mission,” said Manios Dimitrakakis, CEO and co-founder of Panda Surgical, and Honorary Research Fellow at UCL’s Department of Medical Physics & Biomedical Engineering. “With their support, we are positioned to bring transformative tools to neurosurgeons and expand access to advanced surgical care for patients worldwide.”

Hector Edwards, Associate at Oxford Investment Consultants and now Board Director at Panda Surgical, added: “We are very excited to be supporting Panda. It has a great team, exciting technology, and real passion to transform neurosurgery for the better. We think they are on the way to succeeding with that.”

The new funding will be used to accelerate the company’s upcoming first-in-human clinical investigation and support the development of its cutting-edge handheld robotic platform designed for confined space surgeries. This financing follows a series of recent milestones, including a strong patent portfolio, and pre-clinical models.