US-based surgical robotics technology developer Zap Surgical Systems has closed an $81m funding round featuring corporates Foxconn, Chow Tai Fook Enterprises, Hogy Medical and Varian Medical Systems.
Manufacturing services provider Foxconn, conglomerate Chow Tai Fook, medical product maker Hogy and medical device producer Varian joined investment firm Primavera Capital Group, which led the round, GT Healthcare Capital Partners and ShangBay Capital.
Founded in 2014, Zap has developed a system called ZAP-X which combines a pod with a special shielded design and software that helps surgeons remotely carry out stereotactic radiosurgery on conditions such as tumours or lesions in a patient’s head, brain or neck.
ZAP-X has secured regulatory approval from the US Food and Drug Administration and the funding will support its commercialisation. It has now raised $160m altogether, the company said, naming Foxconn and Varian as existing investors.
John R. Adler, Zap’s founder and CEO, 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 2 million people who suffer from brain, head and 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.”
Photo courtesy of ZAP Surgical Systems, Inc.
