Planatome – a medical device company that applies atomic-level polishing from the semiconductor industry to create advanced surgical blades that lead to better patient outcomes – recently announced the closing of its $5 million Series A equity investment round. The company also announced that it secured an additional $1 million convertible venture debt commitment.
Planatome will use the funding round to hire top-level commercial talent for its cutting-edge products, expand manufacturing capacity, and create new business lines by deploying its proprietary polishing technology to a variety of surgical cutting instruments.
Planatome’s surface modification technology is based on chemical mechanical planarization, a process used to planarize silicon wafers in advanced chip manufacturing. And when applied in the medical field, this dramatically improves the surface smoothness of surgical blades by a factor of 1,000 or more.
The blades have proven to be a low-trauma, high-precision surgical tool. And the data has shown that surgeons who use Planatome blades see less soft tissue damage at the incision, less closing resistance, cleaner margins, and fewer complications. Their patients experience less inflammation, less pain, and faster healing with less scarring. These blades have approval for use in the United States and South Korea and have recently been approved for use by several hospitals and surgicenters.
The company will actively utilize its technology for other medical device applications, including surgical scissors, laparoscopic tools, and robotic end effectors. And Planatome’s technology can also be adapted and applied to a number of industries with a wide range of products that could benefit from having an atomically smooth surface.
Planatome blades are now in production and can be purchased from Planatome directly.
KEY QUOTES:
“Our momentum is building, and this funding will fuel market activation by enabling us to reach more surgeons, as well as more rapidly expand additional product design efforts. During the early Covid lockdowns, with virtually all surgical procedures canceled or delayed, we utilized the time to further refine our blade design for the benefit of surgeons as well as patients. Now, with this investment in hand, great surgeon feedback and the healthcare industry back to normal, we are well prepared for rapid growth.”
— David Husband, Planatome’s chief financial officer
“Our technology is elegant in its simplicity. For medical and non-medical persons alike, it has remarkable, widespread appeal since it is so highly intuitive – we’ve removed jagged features that saw through tissue, which produces a much-improved healing response. This is a pivotal stage in our company’s evolution as we expand Planatome’s reach and introduce additional highly refined products that will set new standards of patient care on a global basis and push the boundaries of what’s possible.”
— Tim Tobin, Planatome’s chief executive officer
