FreeHand is a low-cost surgical robot for minimally invasive (keyhole) operations with demonstrated clinical and economic benefits. Funds are needed to commercialise the technology globally.

(Please note this video was originally composed for the previous round raise.)

OR Productivity Ltd

INVESTMENT RAISED66.75%
Maturity

Sales and licensing

Sector Medical Device
Market

Minimally Invasive (keyhole) Surgery

Goal

£1,500,000


This is the investment proposal of OR Productivity Ltd

Valuation

£6,011,286

% Offered

19.96%

Minimum investment: £1,000
Target Exit Type: Trade Sale / IPO
Drag Along
Tag Along
Tax Breaks
Why Capital Cell endorses this company?

• Experienced management team with new advisor, Chris Jones, on board
• Product ready for commercialisation
• Clear need and niche for product
• Large addressable market

Investment risk

• Continued restriction of working capital limits the sales & marketing functions
• Clinical/economic evaluations take longer to complete than anticipated
• Overall utilisation and installation rates are lower than expected leading to it taking longer to reach breakeven
• Delay in completing the FreeHand v2.0 results in delayed revenue streams from this product
• Other risks associated with an investment of this type can be found here.

More information
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What our experts say

The final rating*

Team
84%
Science
74%
Innovation
75%
Business
75%
Pre-money Valuation

£6,011,286

Offered equity

19.96%

Minimum investment

£1,000

*The BioExpert Network is an independent and exclusive network of industry experts in the sectors of life science and investment. Only proposals which receive the most positive responses, in terms of novel concepts, scientific validity and financial perspective successfully progress to funding campaign stage on the Capital Cell online platform. The opinions of our BioExpert Network cannot be relied upon as a guide to the likely successes of the company. Investors need to conduct their own due diligence and analysis before deciding whether to invest in a Capital Cell listed business.
Globally applicable robotic systems for minimally invasive surgery looking to position ORP to become a significant Medical Devices business

FreeHand is a low-cost surgical robotic platform for robotic-assisted minimally invasive (keyhole) operations. They have a 'Product as a Service' business model generating high margin recurring income. They are ready to drive commercialisation, particularly in the United States with key strategic partners and will invest in key staff as they look to achieve this. They intend to conduct further clinical studies to allow them to add to the growing body of clinical and economic data supporting adoption. ORP plans to complete the roll-out of their latest robot and continue the development of new robots based on the FreeHand platform technology.

The team

Executive Team

Jeremy Russell
CEO

Jeremy has 25 years blue chip R&D and manufacturing experience starting with Glaxo. He was Technical Director at Biocompatibles before becoming R&D Director for Smiths Medical International for 11 years. He has a PhD in cancer research and is a Fellow of the Royal Society of Chemistry with over 30 patents and publications. Jeremy has launched over 75 new products in his career and during his time with Smiths Medical evaluated countless prospective products and technologies as part of the Smiths Group investment strategy. He led product and process design and re-engineering and throughout his career has delivered new innovative products to meet developing market demand.

David Pinto
Director of Technical Projects & Programmes

David is a Chartered Mechanical Engineer with 20 years medical device new product development experience matched with extensive project management expertise. He worked for Jeremy as R&D Manager at Smiths Medical for 11 years where he was responsible for a design and development team of 18 people. David has taken in excess of 35 products from R&D through to product launch. He is highly attuned to the requirements set out in the medical device regulatory framework which enables the Company to supply CE, UL and FDA registered devices into the market.

Ernst Schaaf
Director of Sales, Europe

Ernst is a seasoned sales, marketing and distribution manager with 30 years experience in managing pharmaceutical and medical device products. Having originally studied Economics and Marketing in Frankfurt he went on to work with Abbott and BOC Health Care before becoming the Managing Director at ATS Medizintechnik which sold blood management and infusion therapy products. In his career Ernst has developed an extensive pan-European network, whilst taking a hands on approach with the product, and in training and supporting new distributors.

Chris Jones
Advisor

Chris is currently Executive Chairman of Mologic Ltd, Elasmogen Ltd and NED at MediSieve Ltd, Deltex Medical Ltd and Health Enterprise East. Formerly CEO of GlySure Medical and Tensys Medical. VP Marketing for Nellcor Critical Care Division of Tyco Healthcare between 2000 and 2004.