The device allows 3D images from X-rays.
Surgical device company Mazor Surgical Technologies Ltd. (TASE:MZOR) has received US Food and Drug Administration (FDA) approval to begin marketing another of its devices in the US - the C-Insight device for 3D imaging during surgery. The company said the approval is also the determining event that will enable it to release cash managed by a trustee from its debenture offering. Mazor intends to go ahead with the forced conversion, which will generate an extra NIS 15 million.
A forced conversion is an important step for biomed companies, since it provides them with a cash injection while at the same time reducing their cash burn rate. Mazor had NIS 55.3 million in cash at the end of the first quarter and posted NIS 1.1 million for 2007 as a whole.
Mazor expects that the C-InSight will be available for sale in the market at the beginning of 2009. The product is a software base product which transforms two dimensional images, taken in the operation rooms during spine and orthopedic surgery, into 3D images.
Published by Globes [online], Israel business news - www.globes-online.com - on August 18, 2008
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