SurgEase Innovations Ltd (UK) a pioneering medical technology company headquartered in Lancashire with offices in Maidenhead, Berkshire, has secured significant funding through a funding round led by an investment vehicle ultimately beneficially owned by Mr. Dermot Desmond.
SurgEase has commercialised its pioneering technologies, which focus on gastrointestinal health. Its first product, LumenEye X1, is a hand-held mini colonoscopy system that visualises the lower bowel without the need for a full preparation and in doing so avoids the need for a conventional bowel endoscopy in selected patients. It has been launched in sixteen countries and has been widely accepted in the NHS. LumenEye X1 is CE marked and is expected to receive FDA approval later this year.
Its second product is a market leading tele-proctoring platform called CHiP, which connects surgeons and doctors over a Wi-Fi connection during surgical and endoscopic procedures. This allows communication during the critical stages of a complex procedure. Using advanced computing techniques and augmented reality over-lays, the interactions closely approximate ‘in-person’ instruction. Due to its design and user-flow, CHiP has been adopted by 30 NHS Trusts to date and is the training platform of choice for a number of Gastroenterology Academy regions including London.
Commenting on the investment, SurgEase’s founder and CEO Mr. Fareed Iqbal, a former colorectal surgeon himself, said “We firmly believe in our technologies and the positive impact they can have on those with gastrointestinal health problems like bowel cancer. We wish to make bowel assessment and peer-to-peer decision-making simple, more timely and impactful. We are pleased to have the support of our new investors and thank them for their belief in our vision.”
With this funding round, SurgEase prepares to scale its technology adoption in Europe and secure regulatory clearances in the United States for the LumenEye X1. In addition, it plans to secure EU approval and launch of its eagerly anticipated second device called the TriEye, the world’s first tri-camera anoscope.
A spokesperson for Mr. Desmond commented, “We have been impressed with what SurgEase has built in a short space of time with its leading edge and ground-breaking technology and we look forward to working with Fareed and the team in the time ahead”.
About SurgEase www.surgease.com
SurgEase believes that enhancing the diagnostic ability of clinicians is central to improving patient care. As a pioneering medical technology company, SurgEase has leveraged the passion and
expertise of its founding surgeons, engineers and scientists to develop a portfolio of hardware and software products.