Planning Your Regulatory Pathway Around Your Product Roadmap
Interview with Virtual Incision CEO John Murphy
John Murphy is a hands-on kind of operator. One of his favorite things about his company Virtual Incision is that it makes a physical product. Specifically, a brand new type of surgical robotic that is uniquely portable.
It’s named MIRA, an acronym for miniaturized in vivo robotic assistant. The first iteration is designed to perform colon resections, where part of the colon is removed and the two remaining ends reconnected. Virtual Incision already has plans to build more variations, which will be able to perform cholecystectomies (gallbladder removal), hysterectomies (uterus removal), and herniorrhaphies (hernia repairs).
These aren’t the first robots that can perform surgery. But so far, all the others are so big and expensive that only hospitals in metropolitan areas or those attached to universities are able to access them. In contrast, Virtual Incision’s robots are lightweight — approximately 2 lbs — and can be set up within 10 minutes. Target clients include community and rural hospitals, and ambulatory surgery centers.
John had an enviable resume even before he got involved with surgical robotics. With a degree in computer science, he worked in aerospace and life sciences, before getting an MBA and becoming CEO of a couple of private equity firms. He’s also part of Tri-Valley Ventures, a venture capital firm supporting startups on the eastern side of the San Francisco Bay.
In this episode of Medsider, John outlines his best advice on fundraising, regulatory approvals, and the dual-track approach to exiting.
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