Promaxo, an Oakland, CA-based developer of portable low-field MRI systems and minimally invasive robotics, received an investment from Zynext Ventures.
The amount of the deal was not disclosed. Zynext Ventures is the Venture Capital (VC) arm of Zydus Lifesciences.
The company intends to use the funds to expand operations and development efforts.
Led by Dr. Amit Vohra, Founder and CEO, Promaxo was founded by a team of entrepreneurs and healthcare innovators to develop a minimally-invasive and patient-centric MRI and robotic platform which aims to improve lives through medical imaging, robotics and AI capabilities. Their portable low-field MRI systems enable early diagnosis and treatment in a wider range of healthcare settings. It is the first in the USA to receive an FDA 510(k) clearance for prostate biopsy and treatment. The Promaxo MRI is open and compact with a limited fringe field and can be placed in a clinic or operating room. It is also designed to be compatible with robotic procedures.
The company is currently working to obtain FDA clearance for its own robot to further enhance precision and predictability in prostate interventions.
FinSMEs
19/06/2024