Cardiff-based medical technology company Alesi Surgical has successfully raised £5 million in a recent funding round, aimed at accelerating the global sales of its innovative smoke management technology for surgical theatres.
The Cardiff University spinout has developed a sophisticated system designed to manage the smoke produced by surgical tools, which can hamper visibility and pose health risks to operating theatre staff. The latest funding round was led by Mercia Ventures, with additional participation from existing investors including IP Group and Panakès Partners. This brings the total capital raised by Alesi Surgical to over £21 million.
Alesi Surgical’s technology has received regulatory clearance from the US Food and Drug Administration (FDA) for IonPencil, a surgical tool that incorporates their advanced smoke management system. This tool, which is applicable to approximately 80% of all surgical procedures, addresses a significant need in the market. The hazards associated with smoke from electronic surgical tools are increasingly recognised, as the smoke can obscure vision, fog cameras during keyhole surgery, and introduce toxins and viruses into the air.
Legislation in 18 US states already mandates smoke management policies in all surgical procedures, with more states expected to follow. Alesi Surgical’s system employs electrical filtration to effectively remove surgical smoke from the operating theatre. Their first-generation Ultravision system, designed for laparoscopic surgeries, has been utilised in over 40,000 procedures. Independent studies have demonstrated that it is 23 times more effective than other solutions in minimising smoke release during laparoscopies and in capturing and reducing the infectivity of viruses present in the smoke.
The latest version, Ultravision2, represents a major advancement. This platform technology can be integrated into a wide range of surgical tools and existing theatre equipment. The IonPencil, the first tool to feature this integrated technology, has already gained FDA approval and is set to revolutionise smoke management across all surgical procedures that generate smoke. Annually, there are over 40 million such procedures performed in the USA, Europe, and Japan.
With its base at Cardiff Medicentre, Alesi Surgical employs a team of 15. The newly secured funding will be utilised to expand sales in the US market and to pursue regulatory approvals for its products in Europe and Japan. Chief Executive Dominic Griffiths expressed enthusiasm over the positive reception from surgeons for the IonPencil, highlighting its potential to ensure compliance with new legislation and improve surgical conditions.
Investor director at Mercia Ventures, Robert Hornby, emphasised the importance of the new regulations in driving the adoption of smoke management solutions. He noted the advantages of Alesi’s technology over existing systems and expressed confidence in the company’s ability to capture a significant market share with the introduction of IonPencil.
The £5 million equity boost marks a significant milestone for Alesi Surgical, poised to enhance its footprint in the global market with its ground-breaking smoke management technology.