International law firm Osborne Clarke has advised Advent Life Sciences, one of the leading transatlantic venture investors building innovative life sciences businesses, on its lead investment in global health technology platform, Proximie's US$80 million Series C equity financing.
The funding round was led by Advent Life Sciences with participation from new investors Emerson Collection, the impact investor founded by Laurene Powell Jobs as well as SoftBank Vision 2, British Patient Capital, Mubadala Investment Company and the Minderoo Foundation. Existing investors F-Prime Capital, Eight Roads, Questa Capital, Global Ventures, and Maverick Ventures also participated in the round.
Five billion people currently lack access to safe surgery, with over 18 million people dying every year from a lack of access to surgery. Launched in 2016, Proximie is a tool allowing surgeons to virtually “scrub in” to any operating room in the world, extending the capabilities of top surgeons to areas without access to top surgical care.
The capital raised will provide Proximie with further resources to accelerate the development of key products and services, build out its marketplace ecosystem and scale their Operating System of the OR, a centralised platform delivering connected surgical care. Hospitals and surgical centres who leverage Proximie's technology will have access to pre-operative data that can help inform patient care, real time collaborative tools to record, train, and deliver care, and post-operative content management tools to capture and distribute content to their colleagues.
The Osborne Clarke team assisting Advent Life Sciences was led by Partner Justin Starling who was supported by Associate Director Robert Pook and Associate Chris Flach.
Osborne Clarke’s Corporate team is considered a go-to practice for many companies in the life sciences and healthcare sector. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.