Promaxo closes Series C financing with New Science Ventures and Amara Ventures, plus $100M credit facility to expand manufacturing and support regulatory filings.
Amount Raised
$100 Million
Round Type
Series C
OaklandBiotechnologySoftwareHealth CareInvestors
Description
Promaxo Holdings, Inc announced the initial close of its Series C financing round with participation from New Science Ventures and Amara Ventures, alongside a $100M credit facility. The capital will support expanded manufacturing capacity, backlog reduction, and new regulatory filings for Promaxo's minimally-invasive prostate-biopsy platform. The company's portable MRI system is the first in the US to receive FDA 510(k) clearance for prostate biopsy and treatment. Promaxo is pursuing additional FDA clearance for its robotic platform and AI-based cancer risk-scoring tool.
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