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 Corporation

Medrobotics has developed a platform of flexible medical robots that enable surgeons to access, visualize, and perform two-handed surgery in hard-to-reach anatomical places through a single-site access.  The core technology is a new generation of flexible robotic snakes with advanced vision systems that are able to navigate tortuous paths while providing accessory channels for a wide range of flexible surgical tools.  The robots are self-supporting, which means they are able to support their own weight and move within any three-dimensional space without the need for any other structural support.

The Company maintains its corporate headquarters in the Boston area and plans to file for US commercial approval in 2012.