US-based medical technology firm ZAP Surgical Systems has secured a total of approximately $81m in the recently closed equity financing round, led by Primavera Capital.
GT Healthcare Capital Partners, Chow Tai Fook Enterprises, ShangBay Capital, and Hogy Medical also funding participated the in round, along with existing investors Foxconn Technology and Varian Medical Systems. With the latest funding, the total capital secured by the company has reached more than $160m to date.
Founded in 2014, ZAP Surgical Systems is engaged in the design and manufacturing of the ZAP-X radiosurgery platform.
Primavera Capital Group chairman and founder Fred Hu said: “We are very excited to be a part of this highly promising, innovative, mission-driven medical device company at an early stage in its commercial development.
“Dr. Adler is a true visionary in this field, and his team’s latest invention will provide cutting-edge technology to millions of patients around the world. It fits Primavera’s mission of supporting entrepreneurs who combine both commercial success and social impact globally.”
ZAP-X platform is a software and hardware solution for image-guided stereotactic radiosurgery
The radiosurgical robots firm said that it will use the proceeds received from round to speed up the commercialisation of its ZAP-X surgical robot, used for treating cancer and other brain disorders.
The ZAP-X platform is an FDA approved integrated robotic software and hardware solution that facilitates image-guided stereotactic radiosurgery for tumours, lesions and conditions in the brain, head and neck.
The platform has been designed to comprise a unique self-shield, preventing the need for expensive radiation bunkers and combine the vault-free design with cobalt-free radiation delivery.
ZAP Surgical Systems founder and CEO John R Adler said: “Although over the past 3 decades stereotactic radiosurgery has become a well-established non-invasive tool for treating a broad array of human pathologies, globally more than 2 million people who suffer from brain, head & neck cancer annually go untreated.
“ZAP Surgical welcomes this group of world-class investors in our now common quest to transform the lives, and very often cure, millions of patients each year by means of the ZAP-X surgical robot.”
