How this robotics company is transforming the surgery experience – Yahoo Finance

Yahoo Finances Brian Sozzi and Myles Udland speak with Vicarious Surgical Co-founder & CEO Adam Sachs about the companys SPAC deal, and outlook for the surgical robotic space.

BRIAN SOZZI: Surgical robotics company Vicarious Surgical said today it will merge with SPAC D8 Holdings for vowing to help their play at $1.1 billion. Company's robot has arms that help replicate human motion during surgery. And it has some well-known backers, including Yahoo co-founder Jerry Yang and Microsoft founder Bill Gates. Joining us now is Vicarious Surgical's co-founder and CEO, Adam Sachs. Adam, congratulations on the deal. So let's start with this. You have what is called FDA breakthrough designation. What does that allow you to do? And when do you anticipate full FDA approval for your robot?

ADAM SACHS: Yeah, so first, thank you guys so much for making the time. So the-- yeah, we're incredibly excited about this transaction today, of course. And the breakthrough designation specifically was granted to us after careful review from the agency. And it essentially means that they've looked at the details of what we're doing. And they're confident that our core technology is different in a fundamental way that will actually provide better outcomes for patients, right? This means that the things that we've done from an engineering perspective, the things that we've invented will actually enable better outcomes.

So, from a regulatory standpoint, the agency has created this program in order to work closely with us in order to ensure that our device is safe, effective, and gets to the market as quickly as possible. And we're going to work with them to do exactly that. We anticipate filing to the FDA in late 2023.

MYLES UDLAND: So, Adam, we see the road map in the presentation of when this is going to maybe be actually carrying out some surgeries. But maybe we can take a step back. And if you could just outline for us what the state of robotics in surgery rooms is like today, what's available, what's not, what are people working on, and how do you guys see, I guess, the future of surgery if we want to think about it that way. How do you see that evolving over the coming decades?

Story continues

ADAM SACHS: Yeah, it's a really good question. So if it's OK with you, I'd like to actually even take a step back before robotics and talk about the history of surgery here. Because it really starts with open surgery, where surgeons would actually take a scalpel, make a large incision across a patient's abdominal wall, and quite literally open up the patient. And of course, this allows the surgeon to do the procedure. But the incision itself causes most of the injury to the patient.

So that's what minimally invasive surgery is all about, laparoscopy-- three to five small incisions 1.5 centimeters across where you can insert these long, slender instruments into the abdominal cavity and pivot about the abdominal wall. But because the motion pivots about the abdominal wall, it's really hard to do surgery. So that's where legacy surgical robots come in. These systems are $2 million and require dedicated operating rooms. And they-- but on top of all of that, they still pivot about the abdominal wall. So they add a wrist which helps with suturing, but the surgeon needs to still learn how to create the motion, the kinematic profile of the robot for every procedure that they perform.

That's why it's so important to us to have taken a step back. Spent the last seven years reinventing the way surgical robotics works and actually designed these decoupled actuators that allow us to insert all of the robotic motion, 9 degrees of freedom per arm, plus 3 degrees of freedom in the camera, wrists, elbows, and shoulders of the surgeon all inside the abdomen through this single incision that's a normal minimally invasive surgical sized incision. It's a tremendous difference for the patient, but also for the surgeon and the hospital, where now they don't need to learn how to set up such a complex system.

BRIAN SOZZI: Adam, to be fair, I was watching some of the images on the screen. I'm like, I'm not so sure if I want a robot trying to fix my broken finger or leg. Is that one of the biggest-- that perception, is that one of the biggest roadblocks you have to overcome in your journey as a public company?

ADAM SACHS: Yeah, so I would say it's been one of the things that has to be overcome for surgical robots. But, you know, we're fortunate to have some competitors in the field that have already paved this pathway, already proven that, the capability and safety of surgical robots, but due to a number of constraints and limitations, have failed to gain over 20 years more than about 30% market adoption. So we have this incredible opportunity. The pathway has already been paved. And surgical robots already have a place in the operating room today and have proved that they can be safe.

MYLES UDLAND: And Adam, just finally, you guys flagged a couple of procedures, you know, hernias, gall bladder procedures that are kind of the initial entry point for your markets. How much are you thinking about just getting those handful of procedures down before you move into other areas? And I guess, another way of asking, like, I'm assuming if I ever go in for brain surgery, it's going to be a long time before a robot is kind of working inside my head.

ADAM SACHS: Yeah, we're-- I mean, we are starting with those handful of procedures that are outlined in the presentation, ventral hernia being the first procedure. It's one of the reasons that we're so excited to have BD, the world leader in hernia repair products, joining in the pipe in this investment and partnering with us long term for the future of our both of our companies. But these are just stepping stones to the rest of the market. I mean, they were both incredible multibillion dollar markets that we're incredibly excited to have an actual clinical benefit for, really, the first time in surgical robotics history around this large segment of the market.

But at the same time, within a year, we'll be launching tool after tool and indication after indication and greatly expanding our market outside of that, targeting essentially all other abdominal procedures within a few years, including gynecology, urology, and general surgery. I mean, you are right to assume that the brain surgery is further away on our path today.

BRIAN SOZZI: Interesting stuff. Looking forward to following your journey. Vicarious Surgical's co-founder and CEO Adam Sachs, thanks for joining us today.

More here:

How this robotics company is transforming the surgery experience - Yahoo Finance