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CIC increases holding in medical robotics firm

Cambridge Innovation Capital (CIC), a technology and healthcare investor, has increased its stake in a developer of next-generation robotics used for surgery as part of a £19.1 million funding round alongside other investors.

So far, the firm Cambridge Medical Robotics (CMR) has raised more than £30 million. The system they've created allows for minimal access procedures through technology that mimics the dexterity of a human wrist and has the ability to hold surgical tools in the same way as a surgeon.

CMR has revealed plans to use the money raised to develop its Versius system to peform upper gastrointestinal, gynaecological, colorectal and renal surgery.

Martin Frost, chief executive of CMR, commented: "Versius continues to demonstrate its leading position in this next generation of robotic surgery systems.

"I'm pleased to report this significant progress and thank our existing and new investors for their enthusiastic support and look forward to continuing our rapid development as we lay the foundations for producing and marketing this in-demand system."

Dr Robert Tansley, investment director at CIC, added: "Cambridge Medical Robotics has made great progress since our initial investment just over a year ago.

"It is leveraging the core skills of the Cambridge cluster in medical technology and engineering to create a next-generation leader in the expanding field of surgical robotics."

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