Auris Surgical Robotics has raised $280 million in new VC funding at what sources tell Axios was a pre-money valuation of around $1 billion. As its name suggests, the company's plan is to make robotics for use in human surgeries, with CEO Fred Moll saying today that the first targeted disease will be lung cancer:
"The reason lung cancer is so deadly is that the diagnostic and treatment processes are ineffective. The majority of lung cancer patients are diagnosed in late stage, when the cancer has already spread beyond its primary location. With our technology, physicians will be able to access early stage lung cancer without incisions, allowing accurate diagnosis and targeted treatment."
Investors: We're told that Cotaue Management led the round, and was joined by Viking Global, Partner Fund Management, Section 32 and return backers Lux Capital, Mithril Capital Management and Highland Capital Partners.