Zydus Lifesciences’ venture capital arm Zynext Ventures has announced a strategic investment in Promaxo, which develops low-field MRI systems.
US-based Promaxo is also engaged in the development of minimally invasive robotics.
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This move is set to bolster advancements in point-of-care medical imaging and interventions with next-generation MRI systems.
Promaxo’s portable MRI system is said to be the first in the US to obtain Food and Drug Administration (FDA) 510(k) approval for prostate biopsy and treatment.
It stands out from traditional MRI technology with its open and compact design, allowing it to be placed directly in clinics or operating rooms.
It is also compatible with robotic procedures, enhancing precision in medical interventions.
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By GlobalDataPromaxo is currently seeking FDA clearance for its own robot, aiming to improve the predictability and precision of prostate interventions.
Zydus Lifesciences managing director Sharvil Patel said: “This investment underscores Zydus’ commitment to supporting innovations that address unmet medical needs.
“Promaxo’s combination of accessible MRI technology and robotics for guided interventions has the potential to significantly improve patient outcomes and broaden access to vital point-of-care image-guided interventions for all.”
Promaxo is actively working to extend its applications to include female pelvic health, kidney, breast and orthopaedic conditions, broadening the scope of its innovative solutions in the healthcare sector.
Promaxo founder and CEO Dr Amit Vohra said: “We are thrilled to partner with Zynext Ventures and leverage their extensive expertise in the healthcare sector. This investment will accelerate our mission to enhance quality of care and patients’ lives through customer-centric technology. Zynext’s support helps us bring our cutting-edge solutions to a broader market.”
