LOUISVILLE, Colo.--(BUSINESS WIRE)--JustRight Surgical, LLC, the company pioneering mini-laparoscopic surgical instruments, today announced it has entered into a licensing agreement with Intuitive Surgical (NASDAQ: ISRG), a global technology leader in robotic-assisted minimally invasive surgery. The agreement provides Intuitive Surgical with a worldwide, exclusive license to JustRight Surgical’s intellectual property in energy-based vessel sealing and tissue stapling technologies for use in the robotics field. The deal also includes joint product development and an equity financing arrangement.
“We are excited to team up with Intuitive Surgical to expand the impact of JustRight Surgical’s technology beyond pediatric patients,” said Robert Kline, CEO of JustRight Surgical. “Our Low Power Vessel Sealing technology and Mini Mechanical Stapler combined with Intuitive Surgical’s minimally invasive expertise will now have the potential to improve safety and outcomes for adult-sized patients undergoing robotic surgery.”
JustRight’s low power vessel sealing technology permanently fuses vessels while using significantly less energy, a major advance in safety when performing minimally invasive surgical procedures.
In part due to such advances, the global laparoscopic instruments market is projected to reach USD 11.68 Billion by 2021, growing at a CAGR of 8.9 % from 2016 to 2021, according to a Markets and Markets industry report. The growth is also attributable to growing patient and physician preferences for laparoscopic surgery.
CEO Kline added, “The collaboration with Intuitive Surgical marks a major milestone for JustRight. The entry into adult robotic surgery significantly expands the reach and applicability of our mission of enabling safer and more precise laparoscopic surgery through the delivery of exceptional surgical technologies and instruments.”
About JustRight Surgical
JustRight Surgical, LLC develops and markets mini-laparoscopic surgical devices that improve and enable laparoscopic procedures in patients where access is limited and visibility reduced. JustRight’s technology was developed by a proven team of medical device professionals working closely with world-renowned surgeons. JustRight is the first and only company to secure FDA clearance for a low-power electrosurgical device, the 3mm JustRight Vessel Sealing System, to be used specifically for pediatric patients. The Company also developed the world’s first 5mm Mechanical Stapler with a pediatric indication. JustRight Surgical instruments are currently in use in more than 100 children's hospitals in the U.S. and Europe.