Zynext Ventures Invests in neuro42, A Company Developing Portable MRI Systems for Neuroimaging and Interventions

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Aug 15, 2024, 11:00 ET

PENNINGTON, N.J., Aug. 15, 2024 /PRNewswire/ -- Zynext Ventures USA LLC (Zynext Ventures), the Venture Capital (VC) arm of Zydus Lifesciences (Zydus), committed to advancing disruptive breakthroughs in healthcare, announced its investment in neuro42 Inc. (neuro42), a US-based developer of cutting-edge portable MRI systems for neuroimaging and interventions.

neuro42 is transforming neuroimaging and interventions with their portable MRI and robotic intervention technology, bringing advanced imaging and treatment to the patient's bedside. Their compact, user-friendly MRI scanner enables rapid diagnosis, while the robotic module promises to revolutionize procedures like brain biopsies and ablations. neuro42's Diagnostic MRI platform is FDA 510(K) cleared for neuroimaging, and the company is currently seeking regulatory clearance for its interventional module.

Jay Kothari, Director of Zynext Ventures, highlighted the investment's strategic importance, saying, "neuro42's disruptive technology has the potential to reshape neuroimaging and interventions, enabling precise planning and execution of surgical procedures like shunts, biopsies, and laser therapy. Our investment will propel their progress and bring groundbreaking solutions to patients."

"We are delighted to have Zynext as our strategic investor," said Dr. Amit Vohra, Founder and CEO of neuro42. "The partnership will accelerate our mission in bringing our innovational neuroimaging and interventional products to global masses."

The US MRI imaging market was valued at ~$1.8bn in 2024, with neurology accounting for 23% of this market. As per Center for Disease Control (CDC), there are 2.8 million cases of traumatic brain injury (TBI), 795,000 strokes, and 14,000 brain biopsies each year in the US alone. neuro42 is well-positioned to address this demand and revolutionize the space.

About Zynext Ventures

Zynext Ventures is the investment arm of Zydus Lifesciences. The venture capital firm focuses on identifying and investing in promising early-stage and growth-stage companies in the healthcare sector. Zynext Ventures provides financial support, strategic guidance, and industry expertise to its portfolio companies, helping them achieve their full potential and make a meaningful impact on the lives of patients.

To learn more about Zynext Ventures, please visit: https://zynextventures.com

LinkedIn: Zynext Ventures

Twitter: @ZynextVentures

About Zydus

Zydus Lifesciences Ltd. with an overarching purpose of empowering people with freedom to live healthier and more fulfilled lives, is an innovative, global lifesciences company that discovers, develops, manufactures, and markets a broad range of healthcare therapies. The group employs 27,000 people worldwide, including 1,400 scientists engaged in R & D, and is driven by its mission to unlock new possibilities in lifesciences through quality healthcare solutions that impact lives. The group aspires to transform lives through path-breaking discoveries. Over the last decade, Zydus has introduced several innovative, first-in-class products in the market for treating unmet healthcare needs with vaccines, therapeutics, biologicals and biosimilars. For more details visit www.zyduslife.com.

About neuro42

neuro42, Inc. is a medical technology company focused on diagnostic imaging and image guided interventions of the brain. Founded by a team of successful entrepreneurs and healthcare innovators, neuro42 is developing and commercializing an intraoperative MR, AI and robotic platform that allows easy access to MR imaging for screening, diagnosis and interventions of neurological diseases. Backed by over 50 patents, neuro42's platform is poised to enhance patient and physician experience with its novel, easy-to-use and portable configuration. To learn more about neuro42, visit neuro42.ai.

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SOURCE Zydus Lifesciences Ltd