Medrobotics Closes $11.7 Million In "Series C" Funding

Boston, Massachusetts, November 21, 2011-- Boston-based, robotic snake technology developer, Medrobotics Corporation, announced today that it has closed "Series C" funding in the amount of $11.7 Million.  The investment came from current shareholders, a number of new angel investors and from The Pittsburgh Life Sciences Greenhouse.  In total, Medrobotics Corporation has raised $28.3 million in preferred equity financing since its academic founders spun it out from Carnegie Mellon University.

About Medrobotics

Medrobotics Corporation (www.Medrobotics.com) is a privately held company headquartered in Raynham, Massachusetts, that is developing and commercializing the Flex™ Robotic System, a robotic assist platform that enables surgeons to gain single-site access and visualization to difficult-to-access anatomical locations. The robot provides a precise and stable platform for enhanced visualization, and enables two-handed dexterity with compatible third-party tools having tactile feedback. The Flex™ Robotic System is anticipated to be commercially available in 2013.