Cambridge Medical Robotics to move to Evolution Business Park as it plots further growth
Company developing Versius surgical robot is building new HQ between Milton and Impington
Fast-growing Cambridge Medical Robotics (CMR) is to move to larger headquarters at the newly-developed Evolution Business Park.
The company, which is developing a next-generation surgical robot called Versius, has more than doubled in size in the past year and now employs more than 140. It expects to grow “significantly” in 2018.
CMR will develop a new 42,000 square foot building at the business park off Butt Lane, between Milton and Impington, to house all its team – including engineering, research, manufacturing, clinical and commercial teams – under one roof.
The site will also include laboratories, test and final assembly facilities and a demonstration operating room.
There it will showcase Versius, which features a design inspired by the human arm to offer great dexterity, flexibility and reach to meet the needs of laparpscopic surgery.
Existing surgical robots are very large and expensive. But Versius is more compact, designed to be used across a range of surgical specialities and is set to make minimal access, or keyhole, surgery available to all. More than 150 patents have been filed in its development, including for its four-axis wrist joint.
Martin Frost, CMR’s chief executive officer, said: “Cambridge is the innovation capital of Europe so it’s an ideal place for us to build our next generation product; one that will bring the benefits of minimal access surgery to millions of people worldwide.
“There are few places in the world where you can find all the skills you need to develop and commercialise such an exciting medical device as the Versius robot, but the UK, and more specifically Cambridge, is definitely one of them.
“This is a significant infrastructure investment in CMR, reflecting the momentum of the company, the confidence of its shareholders and the global market demand for Versius.”
CMR, which expects the new building to be complete within a year, is currently based at the Crome Lea Business Park in Madingley.
Formed in 2014, the company is supported by specialist and generalist investors. Global revenues for robot-assisted minimal access surgery are $4billion now and anticipated to reach $20billion by 2025.
Six million people undergo open surgery each year but the use of robot-assisted minimally-invasive techniques could speed up recovery times and reduce the risk of infection.
Versius’ ergonomic console design will also allow surgeons to work in a way that reduces physical and mental effort – another challenge with existing technology.
CMR was named one of 2017’s Fierce 15 medtech companies by leading industry title Fierce MedTec in September and one of Virgin Media’s top 10 Business Disruptors in the UK in December.