Insider Brief
- Zap Surgical Systems raised $36 million in financing led by Catalio Capital Management to expand production and deployment of its ZAP-X robotic radiosurgery platform, with strategic partner Baheal also participating.
- Zap said it recently shipped its 50th ZAP-X system and has treated nearly 10,000 patients worldwide, while the new funding will support broader deployment across hospitals and physician-led practices and increased manufacturing capacity.
- The company is also studying its ZAP-X platform for radiomodulation, an experimental use of low-dose targeted radiation for psychiatric conditions, with larger multicenter trials planned beginning with treatment-resistant depression and addiction.
Zap Surgical Systems has raised $36 million in financing led by Catalio Capital Management to expand sales and production of its ZAP-X robotic radiosurgery platform, which uses targeted radiation to treat brain tumors and other neurological conditions without open surgery.
According to the San Carlos, Calif.-based company, existing strategic partner Baheal also participated in the financing. Zap plans to use the capital to expand deployment of ZAP-X across academic medical centers, community hospitals and physician-led practices while increasing manufacturing capacity to meet demand. The company reported that it recently shipped its 50th ZAP-X system and said nearly 10,000 patients have been treated with the platform worldwide.
ZAP-X uses stereotactic radiosurgery, which delivers highly focused radiation to targets in the brain without an incision. The company’s Gyroscopic Radiosurgery approach allows radiation to be delivered from multiple angles and is currently used mainly for brain tumors and other neurological conditions.
Zap is also exploring a technique it calls radiomodulation, which uses lower doses of targeted radiation to influence activity in specific brain regions. The company recently reported preliminary results from a first-in-human pilot study in patients with severe treatment-resistant depression and said it is planning larger multicenter trials beginning with depression and addiction. Those applications remain at an early clinical stage, while ZAP-X’s commercial business is centered on established radiosurgery uses.
Catalio’s Nicholas von Guionneau, a physician, will join Zap’s board as an observer.
“This financing reflects our conviction that Zap Surgical is uniquely positioned to usher in a new wave of non-invasive radiosurgery globally,” noted Dr. von Guionneau. “With rising healthcare costs in developed nations and underserved populations in emerging markets, intelligent robotics will play an indispensable role in reducing cost structures while elevating the standard of care. Zap’s mission to make non-invasive brain therapy broadly accessible aligns perfectly with our strategy of backing disruptive healthcare technologies.”
The company was founded by John R. Adler, a neurosurgeon and radiation oncologist who serves as chief executive. Adler is also an emeritus professor at Stanford University.
“Scaling non-invasive, cost-effective therapy to tens of millions of patients worldwide will require strong, mission-aligned partners,” said Adler. “Baheal has already been instrumental in advancing our presence in China and Catalio’s strategic support will be invaluable as we accelerate adoption throughout the U.S. and expand our commercial footprint.”
Zap did not disclose a valuation or other financial terms of the financing.