SAN CARLOS, Calif.--(BUSINESS WIRE)--Nov 8, 2024--
ZAP Surgical Systems, Inc., a global leader in non-invasive robotic brain surgery, today announced the successful closing of a $78 million Series E funding round led by Qingdao Baheal Medical Inc., with participation from other strategic investors. The new financing will advance the commercialization of the Company’s pioneering ZAP-X® Gyroscopic Radiosurgery® platform.
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Stereotactic radiosurgery (SRS) is a well-established procedure for the non-invasive treatment of many brain tumors including brain metastases, meningiomas, and other intracranial disorders such as trigeminal neuralgia. Considered an alternative to open surgery for these indications, SRS is an outpatient procedure delivered in 1 to 5 brief treatments. Compared to open surgery however, the SRS procedure has proven to provide equivalent to superior outcomes, yet requires no surgical incision, no pain, and typically requires little to no patient recovery period.
Each year, more than five million patients globally could benefit from stereotactic radiosurgery. However, due to the cost and complexity of legacy technologies, only approximately 200,000 patients receive optimal SRS care. With availability concentrated primarily among only the largest urban academic hospitals, world-class radiosurgery has historically remained out of reach for an estimated 96% of patients who might benefit.
“We founded ZAP Surgical to address a clear need: enabling more patients to access state-of-the-art radiosurgery without the prohibitive costs and infrastructure requirements that limit so many providers,” said John R. Adler, MD, Professor Emeritus of Neurosurgery at Stanford University and Founder and CEO of ZAP Surgical Systems. “This partnership with Baheal Medical perfectly aligns with our mission, providing ZAP-X with a powerful platform to reach millions of underserved patients globally.”
Mr. Fu Gang, Chairman and President of Baheal Medical, commented, “We are thrilled to partner with ZAP Surgical in expanding access to cutting-edge radiosurgery technology. ZAP-X’s innovative approach aligns with our commitment to delivering advanced healthcare solutions that address pressing clinical needs. Together, we are poised to promote how brain tumors and other intracranial diseases are treated, providing more precise alternatives that greatly enhance patients’ quality of life.”
The ZAP-X system features an innovative design with unique gyroscopic movement, enabling radiosurgical beams to be directed from thousands of potential angles for precise tumor targeting. This pioneering approach prioritizes the protection of healthy brain tissue and aims to preserve patient cognitive function. Additionally, the vault-free and cobalt-free design of ZAP-X eliminates the need for costly shielded treatment rooms and removes the traditional requirement to manage, secure, and replace radioactive isotopes for radiation beam production.
About ZAP Surgical Systems, Inc.
ZAP Surgical Systems, Inc. designs and manufactures the ZAP-X® Gyroscopic Radiosurgery® platform, the industry’s first dedicated, non-invasive cranial radiosurgery solution to incorporate advanced gyroscopic technology. Founded with the goal of making state-of-the-art radiosurgery more accessible, ZAP Surgical aims to enable healthcare providers to deliver high-quality treatment without the high costs and infrastructural burdens associated with traditional systems. For more information, visit www.zapsurgical.com.
About Qingdao Baheal Medical Inc
Qingdao Baheal Medical Inc. is a leading healthcare company in China, dedicated to introducing innovative and accessible healthcare solutions to the market. With a deep commitment to advancing medical technology, Baheal Medical focuses on delivering cutting-edge products that meet the evolving needs of patients and providers.
ZAP-X Gyroscopic Radiosurgery platform at Hacettepe University Hospital in Ankara, Turkey. (Photo: Business Wire)
