(AOF) – Smaio (Software, Machines and Adaptive Implants in Orthopedics), a specialist in complex spinal surgery, has announced that it has obtained 2.5 million euros in non-dilutive financing. Bpifrance has granted Smaio an Innovation Research and Development (R&D) loan of 1.0 million euros with a deferred repayment of 3 years, to contribute to the financing of a research program which aims to automate its surgical planning system spinal realignment using artificial intelligence.
A banking pool made up of BNP Paribas and Société Générale has also granted Smaio two loans for a total amount of 1.5 million euros, which may be drawn down by the end of September 2023. These loans have a maturity of 4 years.
“We are delighted with this financing obtained on favorable terms,” said Philippe Roussouly, Chairman and CEO. They provide us with the necessary flexibility to pursue the commercial development of Smaio in accordance with the roadmap presented at the time of the IPO, while continuing to invest carefully in the R&D of innovative solutions, integrating artificial intelligence. ”
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Loss of speed in European research
European research is losing ground to American and Chinese research. In twenty years, Europe’s share has fallen from 41% to 31% in global R&D. China’s share jumped from 1% to 8%. As for the United States, which supplanted Europe, in 2001 it devoted only 2 billion euros per year more than Europe to R&D, whereas now this gap has reached 25 billion! Some experts accuse the European authorities of not having deployed effective policies. The financing of pharmaceutical research should therefore have been better targeted via the “Horizon 2020” programme. France only comes in eighteenth position in European funding despite the quality of its research. Conversely, the United States concentrates funding on Boston and a few centers of excellence.