Israel Healthcare Ventures led the round.
Sources inform “Globes” that start-up Mazor Surgical Technologies Ltd. has completed a $10 million financing round. led by Israel Healthcare Ventures Ltd. with a $5 million investment.
The other investors in the round were Mazor's existing shareholders, Alice Ventures, Dor Ventures, ProSeed Venture Capital Fund, and Johnson & Johnson Development Corp. Mazor has raised $20 million to date, including the current round. Israel Healthcare Ventures manager Dr. Hadar Ron will join Mazor's board.
Mazor plans to use the proceeds from the current round to expand its marketing and distribution activity in the US, considered the main market for the company's products. Mazor has set up a subsidiary in the US for this purpose, and hired a local marketing team. The company plans to sell a number of systems and sign distribution agreements during 2005.
Mazor has developed a miniature robotics system for orthopedic procedures, called SpineAssist, which helps surgeons precisely position implants in a patient's spinal column.
Published by Globes [online], Israel business news - www.globes.co.il - on May 4, 2005