ZAP Surgical raises funds for radiosurgical robot commercialisation

9 January 2020 (Last Updated January 9th, 2020 14:10)

US-based medical technology company ZAP Surgical Systems has raised $81m in the recently completed equity financing round led by Primavera Capital.

US-based medical technology company ZAP Surgical Systems has raised $81m in the recently completed equity financing round led by Primavera Capital.

Established in 2014, ZAP Surgical Systems is engaged in the design and manufacturing of the ZAP-X radiosurgery platform.

GT Healthcare Capital Partners, Chow Tai Fook Enterprises, ShangBay Capital and Hogy Medical also took part in the round, along with existing investors Foxconn Technology Group and Varian Medical Systems.

The total capital raised by the company has reached over $160m to date.

The company will use the proceeds to fast-track the commercialisation of its ZAP-X surgical robot used for treating cancer and other brain disorders.

ZAP Surgical Systems founder and CEO John R Adler said: “Although over the past three decades stereotactic radiosurgery has become a well-established non-invasive tool for treating a broad array of human pathologies, globally more than two 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.”

ZAP-X platform is an FDA-approved integrated robotic software and hardware solution. It provides image-guided stereotactic radiosurgery for tumours, lesions and conditions in the brain, head and neck.

The platform is designed to comprise a self-shield, preventing the need for expensive radiation bunkers.

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.”