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Cipher Surgical

In New York, the company is launching the OpClear, a unique device for the removal of contaminants from a scope during minimally invasive surgery.


Founded: 2010
Employees: 12
Quick Pitch:


Cipher Surgical is launching the OpClear a novel and unique patented laparoscopic device for the removal of contaminants from a scope during a laparoscopic (keyhole surgery) procedure. It will replace the current practice of removing the scope for cleaning which is time consuming and potentially risky to patient outcomes. Customers are laparoscopic surgeons worldwide conducting over 20m laparoscopic operations across a wide range of surgical procedures. The OpClear is single use disposable with a small capital component. Despite an annual spend estimated at $50bn in an industry that relies upon visual acuity, there is no solution. Keeping the scope clear of contamination has been described by Olympus as the “holy grail of laparoscopy”. The problem is acute with a 2013 Kings College Hospital study finding that on average a scope is removed 13 times for cleaning and even then a surgeon may still spend over 30% of operative time with impaired vision. The business model is to sell through specialist sales distributors. The OpClear is launching in US and Japan in 2019. Presales in the UK test market have commenced with 5 early adopter hospitals. Cipher Surgical has raised over $12m for development since 2010 and now seeks $2m to support US entry. Existing shareholders will support the round. This is a fertile area for M&A as large medical device companies tend to acquire new products rather than develop them. There have been 4 directly comparable exits between $250m-$350m at up to 10 x sales. Cipher is targeting sales of $25m in 3/4 years to justify this valuation. There is at the moment no direct competition in the space and Cipher will maintain its leadership through continued technical development and patents. The management team is complete, fit for purpose and well incentivised with share options with a strong board covering device marketing, clinical and financial disciplines.


CEO & Founder

Andrew Newell

28 years experience in venture capital and innovation development within technology and medical devices

Clinical Affairs

Tony King

Experienced salesman of medical devices to theatres and hospitals (Smith & Nephew, Microsulis)


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