Robot that removes cancer tumours without incisions gets $20.5 mil funding

Professor Lawrence Ho Khek Yu

Robot that removes cancer tumours without incisions gets $20.5 mil funding

By: 
Jude Chan
16/03/17, 04:46 pm

SINGAPORE (March 16): Local medical robotics firm EndoMaster announced Thursday that it raised $20.5 million in March – one of the largest sums for Series B funding for medical technology companies in Singapore.

EndoMaster’s robotic-assisted surgical system is able to remove gastro-intestinal cancer tumours without the need for surgical incisions on the body or organ.

According to EndoMaster, gastro-intestinal cancer is diagnosed in over three million people worldwide and causes more than two million deaths every year.

Current treatments to remove gastro-intestinal tumours require incisions on the abdomen and cutting out the affected sections of the stomach, colon or rectum.

A spin-off by Nanyang Technological University (NTU) and National University of Singapore (NUS), EndoMaster’s non-invasive tumour-removal lowers surgery time to less than one hour.

“The EndoMaster system was designed to enable complicated surgeries to be performed using existing openings like the mouth and anus, without requiring additional surgical access points,” says EndoMaster co-founder Louis Phee.

“In the future, we aim to perform more ‘no-hole’ surgeries on other major organs. The cost and medical benefits are apparent,” Phee adds.

EndoMaster says it is targeting the fast-growing global medical robotics market. The market is growing at a compound annual growth rate of 21.1%, and expected to more than double to US$12.8 billion by 2021.

“The new funds will enable EndoMaster to scale up this disruptive innovation, making endoscopic surgery easy, safe, and accessible to many more doctors in this world,” says EndoMaster co-founder Lawrence Ho.

EndoMaster says it is looking to launch its product in Europe in late 2018. It aims to surpass $100 million in revenue within five years of its product launch.

To find out more about the Master and Slave Transluminal Endoscopic Robot (MASTER), which was featured in The Edge Singapore in March 2014, click to read: Medical marvel.

How should investors pick their funds?

SINGAPORE (Aug 13): Financial planners say retail investors should do more due diligence before buying into unit trusts, and not buy into funds just because they are associated with a famous brand name and have more market exposure. “Fund performance has little correlation with brand name and market exposure. The key is the fund manager, investment team and processes. Some smaller fund houses may have these capabilities, but do not have the budget to conduct branding and marketing activities,” says Yap Ming Hui, founder and managing director of Whitman Independent Advisors. Bryan Zhe....
Read More >>

Is bigger better?

SINGAPORE (Aug 13): There is a common perception among retail investors that the larger asset management companies tend to outperform their smaller counterparts in the market. The general opinion is that only fund houses that have the capital to market their products and a strong agency force to distribute their products would have a good track record when it comes to delivering returns to their customers. See also: How should investors pick their funds? However, data provided by investment research and management firm Morningstar shows that this may not always be the case. Personal Weal....
Read More >>

Thai Beverage reports 61% fall in 3Q earnings to $248 mil

SINGAPORE (Aug 14) Thai Beverage PLC reported 3Q earnings fell 60.7% to THB 6 billion ($248 million) from a year ago due to lower profit from spirits and beer, higher losses from non-alcoholic beverages and lower income contribution from Fraser and Neave and Frasers Property (F&N/FPL). For the 3Q ended June, revenue rose 34.1% to THB 60.8 billion due to higher sales of beer and food to be offset by lower sales in spirits and non-alcoholic beverages. Net profit from F&N/FPL was 80.9% lower at THB 1.9 billion due to the absence of recognition of fair valuation gains on financial as....
Read More >>
Hall of change

SINGAPORE (Aug 13): On the evening of April 26, Prof Ilian Mihov took the stage to speak about