Xact Robotics Completes Latest Financing Round

Xact Robotics Ltd. has completed its latest financing round totaling $36 million. The company intends to use the proceeds to support the commercialization and continued development activities in support of the recently U.S. market cleared XACT Robotic System, which also has CE Mark. The Xact Robotic System is a hands-free robotic system combining image-based planning and navigation with insertion and steering of various instruments to a desired target across an array of clinical applications and indications.
 
“As we continue to build momentum for our robotic system, we will use the recent funding to launch the system to select U.S. radiology Centers of Excellence partners,” said Chen Levin, CEO, Xact Robotics. “In addition, we will invest to continue expanding the utilization of the system and support our future launch cycle, including compatibility of the Xact Robotic System with additional imaging modalities and clinical applications to address a broad range of patient care needs.”
 
The financing round included investors in the surgical robotics space, such as Chasing Value Asset Management Inc., Mazor Robotics and Corindus Vascular Robotics. They join the current shareholders of the company including Shizim Group and MEDX Ventures Group.
 
Xact Robotics will debut its technology at the 2019 Radiological Society of North America conference (RSNA) to be held in Chicago, IL on December 1 – 6, 2019.