Zap Surgical Systems Secures $81 Million in Funding to Advance Commercialization of ZAP-X® Robotic Radiosurgery Platform

VCBeat (WeChat ID: vcbeat) has learned that on January 9, 2020, local time, Zap Surgical Systems, a medical technology company developing next-generation non-invasive radiosurgical robots for tumor ablation, announced the completion of an equity financing round totaling $81 million. The round was led by Primavera Capital Group, with participation from GT Healthcare Capital Partners, Chow Tai Fook Enterprises, Shanghai Bay Capital, and Hogy Medical. Existing investors Foxconn Technology Group and Varian Medical Systems also joined the round. To date, the company has raised over $160 million. The proceeds from this latest financing round will be used to commercialize the company’s product, the ZAP-X® radiosurgical system for treating cancer and other brain disorders, which has already received FDA approval.

The ZAP-X® platform is an integrated robotic software and hardware solution that provides image-guided stereotactic radiosurgery for tumor lesions, as well as conditions affecting the brain, head, and neck. Featuring a unique self-shielding design, the ZAP-X® typically eliminates the need for costly radiation vaults. By combining this novel vaultless architecture with cobalt-free radiotherapy, the ZAP-X® platform significantly enhances cost-effective healthcare delivery, with the aim of providing world-class non-invasive radiation therapy to a broader patient population.

“Although stereotactic radiosurgery has become a well-established, non-invasive tool for treating various human pathologies over the past 30 years, more than two million people worldwide with brain and head and neck cancers still lack access to treatment each year,” said Dr. John R. Adler, Professor of Neurosurgery at Stanford University and Founder and CEO of Zap Surgical Systems. “Zap Surgical Systems welcomes these world-class investors. We are all committed to transforming the lives of millions of patients and curing their diseases through the ZAP-X® surgical robot.”

Dr. Fred Hu, Chairman and Founder of Primavera Capital Group, stated, “We are delighted to support Zap Surgical Systems at this early stage of its commercial development. I believe Dr. John R. Adler is a true visionary in this field, and his team’s latest invention will provide cutting-edge technology to millions of patients worldwide. Furthermore, this partnership aligns with Primavera Capital Group’s mission to back entrepreneurs who combine commercial success with social impact.”

Zap Surgical Systems designs and manufactures the ZAP-X® Radiosurgery Platform. Founded in 2014 by Dr. John R. Adler, a Professor of Neurosurgery at Stanford University, Zap Surgical Systems was established by the inventor of the CyberKnife and founder of Accuray. The ZAP-X® received FDA clearance in September 2017. Featuring a unique self-shielded design that typically eliminates the need for traditional radiation vaults, the ZAP-X® enables streamlined care delivery in settings previously deemed impractical or cost-prohibitive, including physicians’ offices, ambulatory surgery centers, and satellite facilities.

(Compiled by Ning Chen)