Hikma Ventures leads Series B extension in Activ Surgical to support the global commercialization of its platform

Rhea-AI Summary

Hikma Pharmaceuticals announced a $15 million investment from its venture capital arm, Hikma Ventures, in Activ Surgical, enhancing the Series B financing to a total of $60 million. Activ Surgical is developing AI-driven surgical technologies aimed at improving surgical outcomes. The ActivSight imaging module, which enhances visualization during surgery, has received FDA clearance and is set for broader availability in 2022. This investment will facilitate Activ Surgical's global launch, empowering surgeons with advanced decision-making tools and improving patient safety.

Positive

• Hikma Ventures invested $15 million in Activ Surgical, showing confidence in its technology.
• Total Series B funding for Activ Surgical now totals $60 million, enhancing its financial stability.
• The ActivSight imaging module has FDA clearance and is set for broader release in 2022, indicating strong product validation.
• Activ Surgical's technology aims to reduce surgical errors, enhancing patient safety.

Negative

• None.

LONDON and BOSTON, March 22, 2022 /PRNewswire/ -- Hikma Pharmaceuticals PLC (Hikma), the multinational pharmaceutical company, today announced that its venture capital arm, Hikma Ventures has led an $15 million USD round of financing for Activ Surgical, a pioneering digital surgery imaging startup that is developing groundbreaking interoperative surgical intelligence hardware and software. The investment is an extension of the Series B round that was previously announced by Activ Surgical in September 2021. This most recent financing, which also saw participation from existing investors, brings the total Series B round to $60 million USD.

Activ Surgical aims to revolutionize access to surgical care, enabling a future of augmented reality (AR)-based and artificial intelligence (AI)-driven surgery that is safe, smart, and accessible to all. The company's patent-protected surgical intelligence platform – ActivEdge™ – is being designed to reduce unintended and preventable surgical errors by enhancing a surgeon's interoperative decision-making through the use of AI. Activ Surgical's first product — the ActivSight™ imaging module — seamlessly upgrades existing operating room equipment, serving as the "eyes" of the ActivEdge platform. It allows surgeons to access critical intraoperative visual data as AR overlays. In 2021, the ActivSight imaging module was cleared by the FDA and successfully used in its first-in-human studies. To date, multiple major hospital networks across the U.S. and Europe have been established as pilot sites. The ActivSight imaging module is available now via a limited market release and will be broadly available in 2022.

"Hikma Ventures' investment in Activ Surgical comes at a critical inflection point in the company's history as our team is hard at work preparing for the global launch of our ActivSight imaging module later this year," said Todd Usen, CEO, Activ Surgical. "This investment will allow us to scale our business quickly and add resources needed to ensure a successful rollout of the ActivSight imaging module, helping to fulfil our mission to empower surgeons' intraoperative decision-making and, ultimately, enhance patient safety. Hikma's position in the global healthcare landscape helps validate our mission to provide better patient outcomes globally."

"We are thrilled to invest in Activ Surgical and support their mission to democratize surgical care and to eliminate unintended surgical complications to improve patient outcomes and empower surgeons across the globe," said Lana Ghanem, Managing Director of Hikma Ventures. "This is the latest example of Hikma Ventures' commitment to supporting pioneering companies utilizing cutting-edge technologies to meaningfully improve patients' lives. We look forward to working with the talented Activ Surgical team to help them expand the global reach of their innovative platform to different geographies, especially the Middle East."

Investor Enquiries:
Hikma Ventures
Lana Ghanem	lana@hikmaventures.com
Managing Director, Hikma Ventures	+962 6 580 3100
Media:
Steve Weiss	+1 732 788 8279
David Belian	+1 848 254 4875
US Communications and Public Affairs	uscommunications@hikma.com
U.S. Media Conact for Activ Surgical:
Heath Meyer (heath@teamseismic.com / 858-768-1527)

About Hikma
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated BBB-/stable S&P and BBB-/stable Fitch)
Hikma helps put better health within reach every day for millions of people around the world. For more than 40 years, we've been creating high-quality medicines and making them accessible to the people who need them. Headquartered in the UK, we are a global company with a local presence across the United States (US), the Middle East and North Africa (MENA) and Europe, and we use our unique insight and expertise to transform cutting-edge science into innovative solutions that transform people's lives. We're committed to our customers, and the people they care for, and by thinking creatively and acting practically, we provide them with a broad range of branded and non-branded generic medicines. Together, our 8,600 colleagues are helping to shape a healthier world that enriches all our communities. We are a leading licensing partner, and through our venture capital arm, are helping bring innovative health technologies to people around the world. For more information, please visit: www.hikma.com

About Hikma Ventures
Founded in August 2015, Hikma Ventures operates as the corporate venture capital arm of Hikma Pharmaceuticals. Hikma Ventures invests in global start-ups where Hikma's expertise can accelerate revenue growth and enhance value creation by providing ventures with access to the resources of a multinational pharmaceutical company. For more information, please visit www.hikmaventures.com.

About Activ Surgical  
Activ Surgical is the pioneering digital surgery company that completed the world's first autonomous robotic surgery of soft tissue in 2018. The company is revolutionizing surgical vision, enabling a future of augmented reality-based and artificial intelligence-driven surgery that is safe, smart, and accessible to all. Its patent-protected surgical software platform--ActivEdge™--is being designed to reduce unintended and preventable surgical errors by enhancing a surgeon's intraoperative decision making via the aggregation of surgical data from around the world. Activ Surgical is privately held, and backed by Hikma Ventures, DNS Capital, Cota Capital, BAM Funds, GreatPoint Ventures (GPV), ARTIS Ventures, LRVHealth, Tao Capital Partners, Magnetar Capital, NVIDIA, Rising Tide VC, MINT Venture Partners, Castor Ventures, SONY Innovation Fund, and Dream One Vision. Learn more at www.activsurgical.com.

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SOURCE Hikma Pharmaceuticals USA Inc.

FAQ

What investment did Hikma Ventures make in Activ Surgical?

Hikma Ventures led a $15 million investment in Activ Surgical, increasing the total Series B funding to $60 million.

What is the purpose of the ActivSight imaging module?

The ActivSight imaging module enhances surgeons' visualization during surgeries and helps reduce surgical errors.

When will Activ Surgical's products be available?

The ActivSight imaging module will be broadly available in 2022 following its limited market release.

What are the implications of Hikma's investment for Activ Surgical?

Hikma's investment will help Activ Surgical scale its operations and ensure a successful global launch of its surgical technology.