Mazor Surgical Technologies has received FDA approval for its newly developed Hover-T Bridge, a platform for minimally invasive spinal surgery (MIS).
Mazor's flagship product, the SpineAssist, based on miniature robotic technology, is a precise positioning tool. By teaming SpineAssist with Hover-T, Mazor can provide a complete MIS platform for lumbar spine procedures.
The Hover-T is attached percutaneously to the patient allowing the SpineAssist to float above the spine. This allows surgeons to accurately access any point in the spine through a minimal invasive approach with minimal muscle or tissue disruption. Mazor stated that Hover-T will allow for the first time the ability to navigate along the entire lumbar spine without the need to expose bone, muscle or tissue, and makes it possible to perform spinal procedures with the smallest of incisions.
Although MIS implants represent for the manufacturers a premium product with high income, utilization is still very low. Mazor believes that the SpineAssist MIS platform will change this trend and encourage usage of premium implant products and become a major revenue generator for Mazor as well as for implant companies.
Professor Moshe Shoham founded Mazor within the Technion Incubator in 2001. The company's main offices are located in Israel, with recently opened offices in the US.
To date, Mazor has raised over $19.5 million in two rounds. VC companies that have invested in Mazor include Alice Ventures, Johnson & Johnson DC, Israel HealthCare Ventures, Shalom Equity, Dor Ventures, Proseed, and ITP.
The Hover-T is scheduled to be launched and presented at the North American Spine Society meeting which will take place in Philadelphia at the end of the month.
Published by Globes [online], Israel business news - www.globes.co.il - on Wednesday, September 14, 2005