The Eindhoven-based Preceyes has been working on a potential breakthrough since 2011: a robotic assistant that allows eye surgeons to perform treatments that were previously impossible.
They require superhuman precision and are extremely risky: operations inside the eye. “Even absolute top surgeons have some tremor in their hands. And with a tiny movement, you can tear the retina apart,” explains COO and co-founder Gerrit Naus of Preceyes. “With our robotic assistant, eye surgeons can operate with extreme precision or inject medicines very accurately. In this way, we can treat conditions that are currently incurable in the future.”
Proof-of-concept financing
The BOM already provided funding to Preceyes during the proof-of-concept phase. Through the Development Fund, BOM offered a convertible loan of €150,000, which enabled Preceyes to further develop the robotic assistant. The company, originally a spin-out from TU Eindhoven, has now sold its first system. The University of Oxford will be the first to use this system on the human eye.
“Both the first sale and the collaboration with Oxford underscore our value proposition,” says Naus. “This is crucial for securing the investments needed to develop a certified system for general hospitals.”
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Robot operates inside eye - BBC News
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Investor network
The fact that BOM has a broad network of investors is beneficial for Preceyes. "They refer to certain funds: go talk to them," says Naus. "But their network is, of course, broader than just investors. We are in constant contact with BOM: for example, about market approaches and the choices you make in that regard."
For instance, Preceyes was given the opportunity to participate in an intensive training module from Health Valley—a program for promising startups that BOM sponsors. The program helps entrepreneurs refine their business model and strategy, especially towards the international market.
Finding a new CEO
To accelerate development, Preceyes felt the need to strengthen the leadership team. Perry van Rijsingen, the new CEO who took office in May 2016, comes from BOM's network. The former Philips executive has extensive experience in the medical field and is tasked with securing more investors and pilot customers. Naus: "In 2018, we want to bring our system to the market, so that we can help actually prevent blindness in patients."
BOM Support
- Convertible loan in proof-of-concept phase
- Connection to new investors
- Support in refining business model
- Access to network of experts and advisors
- Introduction of new CEO from BOM network