LYON, France--(BUSINESS WIRE)--Regulatory News:
SMAIO (Software, Machines and Adaptative Implants in Orthopaedics – Euronext Growth Paris ISIN: FR0014005I80 / Ticker: ALSMA), a French player specializing in transforming vertebral fusion with breakthrough innovation, today announced that it has obtained €2.5m in non-dilutive financing.
A €1.0m loan from Bpifrance to integrate artificial intelligence into SMAIO's solutions
Bpifrance has granted SMAIO a €1.0m Innovation Research and Development (R&D) loan with a 3-year grace period to help finance a research programme aimed at automating its spinal realignment surgical planning system using artificial intelligence (AI).
The current challenge in surgical planning of vertebral realignment is to harness the database of tens of thousands of patient radiographs analysed with the KEOPS Balance Analyzer 3D software, in order to simulate the perfect realignment for each future patient, taking into account his or her morphological characteristics. The development of AI algorithms aims to make this process automatic, enabling the surgeon not only to choose the most appropriate realignment, but also to predict the shape of the spine after surgery with greater accuracy.
Two loans totalling €1.5m from its banking partners
The banking pool comprising BNP Paribas and Société Générale has granted SMAIO two loans totalling €1.5m, which can be drawn down by the end of September 2023. These loans have a maturity of 4 years.
Philippe ROUSSOULY, CEO of SMAIO, stated: "We are delighted with these financings obtained on advantageous conditions. They provide us the flexibility we need to pursue SMAIO's commercial development in line with the roadmap presented at the time of the IPO, while maintaining our meticulous investment in R&D for innovative solutions incorporating artificial intelligence".
A precursor in the use of clinical data and imaging of the spine, SMAIO designs global solutions for spine surgery specialists. The Company has recognized expertise thanks to KEOPS, its Big Data management software that has become a global reference with more than 100,000 patient cases documented.
SMAIO offers spine surgeons a comprehensive platform, I-Kontrol, incorporating planning, implants and related services, enabling them to treat spinal pathologies in a safe, effective and lasting way.
SMAIO is positioned at the forefront of innovation with the ambition of providing surgeons with the first active robotic solution enabling a high level of performance and repeatability to be achieved.
Based in Lyon, France, SMAIO benefits from the skill and expertise of more than 30 highly specialized staff.
For further information, please visit our website: www.smaio.com
Next financial events:
- H1 2023 revenue: July 18, 2023 (after market)
- H1 2023 results: October 18, 2023 (after market)
Listing market: Euronext Growth Paris
This press release contains non-factual elements, including, but not limited to, certain statements regarding future results and other future events. These statements are based on the current vision and assumptions of the management of the Company. They incorporate known and unknown risks and uncertainties that could result in significant differences in results, profitability and expected events. In addition, SMAIO, its shareholders and its affiliates, directors, officers, counsels and employees have not verified the accuracy of, and make no representations or warranties about, statistical information or forecast information contained within this news release and that originates or is derived from third party sources or industry publications; these statistical data and forecast information are only used in this press release for information purposes. Finally, this press release may be drafted in French and in English. In the event of differences between the two texts, the French version will prevail.