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Transenterix Shares Trade Up 25% on FDA Filing for First Machine Vision System in Robotic Surgery

19:00 EST 13 Jan 2020 | Streetwise - The Life Science Report

Source: Streetwise Reports   01/14/2020

Shares of Transenterix opened 50% higher after the company reported that it has submitted a 510(k) submission to the FDA for the first machine vision system for use in robotic surgery.

This morning, medical device company TransEnterix Inc. (TRXC:NYSE.American), which states that it is digitizing the interface between the surgeon and the patient to improve minimally invasive surgery, announced that "it has filed a 510(k) submission with an Intelligent Surgical Unit (ISUTM) that is designed to enable machine vision capabilities on the Senhance Surgical System."

The company's President and CEO Anthony Fernando commented, "TransEnterix is the first company to seek FDA clearance for machine vision technology in abdominal robotic surgery. Rather than simply passing a video signal to the surgeon, the Intelligent Surgical Unit for Senhance will initially have the ability to actually visualize the surgical field to guide movement and capture information...This technology advance is an important first step towards enabling augmented intelligence and we believe it will support continued machine vision driven advances in surgery performed with the Senhance Digital Laparoscopy Platform."

Transenterix stated in the report that the ISU will be compatible with the global installed base of Senhance Surgical Systems and other Senhance supported third-party vision systems. The company explained in the report that "the initial features of the ISU are designed to increase control in visualization beyond what has previously been available in digital laparoscopy or robotic surgery." The firm also advised that though the Senhance System at present, already features unique eye-tracking camera control, the new technology would additionally provide for enabling machine vision driven control of the camera for a surgeon by responding to commands and recognizing certain objects and locations in the surgical field.

Dr. Amit Trivedi, chair of surgery at Hackensack Meridian Health Pascack Valley Medical Center and a participant in the design and usability studies conducted in support of the 510(k) submission of the ISU, commented, "Many of us that perform and teach surgery firmly believe that the care of patients will be transformed by augmented intelligence and machine vision capabilities in the future...Imagine if a computer could be the best assistant you've ever had in surgery by anticipating and moving a camera effortlessly to maximize control of the visual field. I'm very excited about this new addition to the Senhance System."

TransEnterix is a medical device company headquartered in Morrisville, N.C. The firm stated that "it is digitizing the interface between the surgeon and the patient to improve minimally invasive surgery by addressing the clinical and economic challenges associated with current laparoscopic and robotic options in today's value-based healthcare environment." The company claims that its Senhance Surgical System which digitizes laparoscopic minimally invasive surgery, offers improved ergonomics, responsible economics and allows for robotic precision, haptic feedback, surgeon camera control via eye sensing. The firm indicated that the Senhance System is intended for use in adult patients in laparoscopic gynecological surgery, cholecystectomy colorectal surgery and inguinal hernia repair.

Transenterix has a market capitalization of around $28.9 million with approximately 19.67 million shares outstanding. TRXC shares opened greater than 50% higher today at $2.25 (+$0.78, +53.06%) over yesterday's $1.47 closing price. The stock has traded today between $1.79 and $2.62 per share and is currently trading at $1.83 (+$0.36, +24.49%).

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( Companies Mentioned: TRXC:NYSE.American, )

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