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NewsGalen Robotics Featured in 2019 Canaccord Genuity Medical Technology & Diagnostics Forum

December 2, 20190

Galen Robotics was one of 78 companies showcased at the 13th annual Canaccord Genuity Medical Technology & Diagnostics Forum. The company was of nine highlighted in an investor industry update following the forum.

“Founded in 2016, Galen Robotics is developing a single-platform instrument positioning robotic system to eliminate hand tremors and aid surgeons in otolaryngology, neuro, and ortho surgeries. The company’s goal is to enable precise minimally invasive interventions that were previously considered beyond human capacity, increasing the population of surgeons that can perform some of these extremely difficult surgeries. Management has noted that the orthopedic robot space is relatively crowded, so the main focus is currently on the neuro and ENT space.

Takeaways from the conference:
  • The company plans to follow the same 510(k) regulatory template as the DaVinci robotic system and is currently meeting with the FDA in anticipation for an early 2020 submission. That said, management described key differences between the two robots, noting that their system doesn’t require extensive training or take up significant space in the OR.
  • The system initially came out of Johns Hopkins, and the company recently relocated to Baltimore. In return, Galen receives significant tax credits (about $8K per employee) and can take advantage of forgivable loan programs.
  • The company plans to pursue a razor/razor-blade commercial model by placing the system in accounts in return for ongoing utilization (software and per- procedure consumables) fees.”

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