Zynext Ventures USA LLC, the venture capital division of Zydus Lifesciences, has made an investment in Promaxo Inc., an innovator in portable low-field MRI systems and minimally invasive robotics.
Promaxo’s technology is set to transform patient care by enabling point-of-care imaging and intervention.
Their portable MRI system, which has received FDA 510(k) clearance for prostate biopsy and treatment, features a compact and open design with minimal fringe field.
This design allows for installation in a variety of healthcare settings, including clinics and operating rooms.
Additionally, Promaxo is working towards FDA clearance for its own robotic system, which aims to enhance precision in prostate interventions.
The investment reflects Zydus Lifesciences’ commitment to advancing healthcare innovations that address unmet needs.
Promaxo’s integration of accessible MRI technology with robotics for guided interventions is expected to improve patient outcomes and expand access to critical point-of-care imaging.
The National Cancer Institute (NCI) reports approximately 3.3 million men in the US living with prostate cancer, with around 300,000 new cases projected for 2024.
The market for prostate biopsy and treatment in the US is valued at approximately $3 billion, with around one million biopsies performed annually.
Promaxo is also looking to expand into other areas such as female pelvic, kidney, breast, and orthopedic imaging.