JustRight Surgical's Low Power Vessel Sealing technology
JustRight Surgical announced a licensing agreement with Intuitive Surgical today that marks its entry into the adult robotic surgery field.
“Independent development and commercialization of a robotic platform would be prohibitive from a capital standpoint for JustRight Surgical,” Robert Kline, CEO of JustRight Surgical, told HCB News. “The collaboration with Intuitive Surgical is an ideal way to make our unique surgical technologies available to a new group of patients that otherwise we would not be able to access.”
JustRight Surgical manufactures mini-laparoscopic surgical instruments for pediatric patients. Its Low Power Vessel Sealing technology permanently fuses vessels while using significantly less energy than competitor devices.
The company also developed the world’s first 5 millimeter Mechanical Stapler with a pediatric indication. The vessel sealing system and stapler are currently in use in over 100 children’s hospitals in the U.S. and Europe.
The global laparoscopic instruments market was worth $7.61 billion in 2016 and is expected to hit $11.68 billion by 2021, according to a MarketsandMarkets report. More and more hospitals are performing laparoscopic procedures rather than open surgery because it’s associated with reduced costs and length of stay, and better patient satisfaction.
This business agreement provides Intuitive Surgical with an exclusive, global license to the company’s intellectual property in energy-based vessel sealing and tissue stapling technologies for the robotic field. This deal also involves joint product development and an equity financing arrangement.
“The investment and license funds will allow JustRight to accelerate our product development and commercialization strategies outside the field of robotic surgery,” said Kline.
He described this as a “major milestone for JustRight” that will provide the company with an entry into adult robotic surgery.
