Glasgow ultrasound pioneer targets multi-billion robotic surgery market thanks to funding boost

Fife-based Eos Advisory has led £2.5m of investment alongside Scottish Enterprise and SIS Ventures.

A Glasgow-based ultrasound specialist is looking to transform the multi-billion-pound robotic-assisted surgery market after securing £3.2 million of investment and grant funding.

Nami Surgical is a late 2021 spin-out from the University of Glasgow’s world-renowned Centre for Medical and Industrial Ultrasonics. It is behind the development of miniaturised ultrasonic medical devices for surgical applications, and supports companies to deliver innovation in ultrasonic surgery. The fledgling firm has introduced a high-performance, miniaturised ultrasonic scalpel, which is said to overcome significant barriers in robotic-assisted surgery.

Fife-based investment firm Eos Advisory has led £2.5m of seed funding alongside the Investment Fund for Scotland - which is managed by private equity firm Maven and delivered by the British Business Bank - Scottish Enterprise and SIS Ventures. Nami has separately been awarded a £700,000 grant from Innovate UK, the national innovation agency.

Sarah Newbould (British Business Bank), Anne Muir (Eos), Arran Dewar (SIS Ventures), Dr Rebecca Cleary (Nami Surgical), Nico Fenu (Nami Surgical) and Victoria McLaren (Maven). Picture by Stewart Attwood

Nico Fenu, Nami Surgical chief executive and co-founder, said: “Robot-assisted surgery has become increasingly popular in recent years and is now widely used in various surgical procedures including urology, gynaecology, and colorectal. We have pilot programmes running with healthcare and medical device groups worldwide, including in the United States, and we now look forward to the commercialisation phase with the support of our new investors.”

As robotic surgery becomes the standard for various procedures, its global market is set to quadruple, reaching a projected $36 billion (£29bn) by 2032. Nami’s pioneering technology and the integration of ultrasonic scalpels into robotic surgeries is seen as setting a new benchmark in surgical care, promising “improved outcomes for patients worldwide”.

Fenu added: “Medical ultrasound was first demonstrated in Glasgow in the 1950s and this led to the first ultrasound device going into service in 1965, so we’re proud to be a pioneering ultrasound start-up developing technology that will enable a global market to innovate, and to be doing that from a base in Scotland.”

Mel Anderson, head of IP and commercialisation at the University of Glasgow, said: “This funding round is a great achievement by the Nami team led by Nico Fenu. The company is commercialising innovation that will have a significant impact in the surgical field and ultimately benefit many patients worldwide. Nami is one of a growing number of spin-out ventures commercialising innovations arising from university research.”

The company, which plans to expand its technical team with up to ten new members, was co-founded by its chief technology officer Rebecca Cleary and is chaired by experienced life sciences and medical tech non-executive director Albert Nicholl. He said: “We have a huge opportunity ahead of us, and a fast route to market with the first product from the platform.”

Anne Muir, director of Portfolio at St Andrews-based Eos, added: “Nami Surgical has created the next generation device for robotic assisted surgery with the aim of drastically improving patient outcomes, allowing surgeons to perform faster and safer procedures. Eos has been working with Nami over the last year, and we are now continuing our commitment by investing to help accelerate a significant market opportunity.”

Fife investment vehicle Eos Advisory secures multi-million-pound boost to help grow pioneering early-stage Scots firms