Malibu-based robotic microsurgery company Horizon Surgical Systems Inc. has raised $30 million in series A financing to support the development of its eye surgery system to ready it for human trials.
The financing was led by New York-based ExSight Ventures and an unnamed major corporate investor, with participation from Santa Monica-based Main Street Advisors and the University of California Investments office in Oakland, amongst others.
Horizon Surgical was founded in 2021 as a spin-out from UCLA research on robotic microsurgery. The company’s flagship product, which it calls Polaris, combines state-of-the-art robotics, advanced medical imaging and artificial intelligence algorithms to boost the surgical precision beyond currently used technologies.
The technology is first being applied to eye surgeries, in part because of the extreme precision required for those surgeries. One of the first uses is expected to be cataract surgery, a common procedure, especially in older patients.
The proceeds of the financing will advance the development of Horizon’s novel technology platform, progressing to first in human studies, and further building out the team.
“Both our team and investors recognize that our Polaris system is poised to capitalize on the next era in surgical robotics, enhancing the surgeon’s natural capabilities with state-of-the-art augmented visualization and precision robotic control,” Horizon founder and chief executive, Jean-Pierre Hubschman, said in the announcement.
In addition, one of ExSight Ventures’ founders and general partner Firras Rahal has joined Horizon Surgical’s board. Also joining the board is William Link, founder and managing partner of Steamboat Springs, Colorado-based Flying L Partners and founder and managing director of San Francisco-based Versant Ventures.
“I am very gratified and motivated to join the Horizon board of directors, having observed and helped my colleague and friend, Dr. Jean-Pierre Hubschman, from the very early inception of this great technological and medical advancement,” Rahal said in the announcement. “Robotic cataract surgery makes a lot of sense,” he added. “The Horizon system will, I believe, make surgeons more consistent and faster, with far less complications.”
Hubschman also focused on the increased accuracy that artificial intelligence algorithms will confer on the company’s robotic surgery device.
“As artificial intelligence continues to advance surgical robotics, I believe it will unlock unprecedented surgical assistance capabilities within the Polaris platform, driving unmatched accuracy, efficiency, and outcomes in the operating room,” Hubschman said.
