ZAORY a technology, built over the past three years by a team of scientists, PhDs and medical professionals has the potential to reduce operating time, radiation and costs while improving patient outcome on millions of operations involving broken bones every year.
In front of this ambitious mission, Drill Surgeries Ltd. secured the highly competitive Innovate UK R&D grant, co-funding their initial route to clinical trials with £500k. For which Innovate UK said: “[Drill Surgeries’] innovation could dramatically improve performance and efficiency of surgeons in operations […], there are significant benefits to quality of life for patients and substantial productivity benefits for healthcare”.
After the announcement, Drill Surgeries opened their first round of investment to cover the initial 30% match funding required for this award and an additional undisclosed amount to cover the additional expenses of launching clinical trials and regulatory compliance.
Moises Barebra Ramos, Founder & CEO of Drill Surgeries, said: “I could not be more excited to continue bringing the best support possible into my startup. First our experienced team, then Innovate UK and now the best Angel Investor we could have asked for. We opened the round in July, and wanted to keep it open until December this year, but by September we already had several offers on the table, and this was one not to miss. Our investor is not only bringing in the money, but years of experience in the industry, contacts and expertise that we cannot wait to onboard”.
At this stage and as their new investor transitions from their previous company into this new role, they asked to remain anonymous, yet they shared: “Over my 40 years of experience in the healthcare industry I have been a founding member, a Commercial Director and a Director for M&As. I have introduced many medical technologies and teams into foreign countries, establishing the company’s internationalisation efforts and I facilitated the sale for a 9-figure mark.
“As I transition now to a new chapter in my life, I have been asked to get involved in a number of projects but there is no-one like Moises and his startup Drill Surgeries. They not only have an innovative technology solving a huge problem in hospitals, but they also have the potential to scale and capture an ever-growing market, they have the right team and the right strategy to succeed, and I am excited to be a catalyst in helping them reach their next stage”.
With this new investment and support topping up the grant awarded by Innovate UK, Drill Surgeries has enough resources to bring their prototype into a fully functional product and they anticipate they will start clinical trials by summer 2023 in views for commercialisation in 2024. With enough runway to last until late 2024, Drill Surgeries is moving faster than ever to bring this technology into hospitals and start reducing operating time, radiation, costs and improving patient outcomes worldwide.
For more details about Drill Surgeries’ growth plans post-investment, reach out through their website at: https://www.drillsurgeries.com/