CAESAREA, Israel--Mazor Robotics Ltd. (TASE: MZOR), a developer of innovative surgical robots and complementary products, today announced that it has finalized the financing agreement that it had entered into on August 12, 2012. Mazor secured the first tranche of the investment of $7.5 million from a group of institutional and accredited investors, led by Oracle Investment Management, the investment management company founded by Larry Feinberg.
Under the structure of the transaction, the aggregate investment amount will be up to $15 million invested in two tranches of $7.5 million each and divided among a group of investors in varying percentages. The agreement provides up to $15 million for further investment capital and will facilitate the Company's efforts to implement an American Depository Receipt program on a U.S. stock exchange.
Mazor Robotics (TASE:MZOR) is dedicated to the development and marketing of innovative surgical robots and complementary products that provide a safer surgical environment for patients, surgeons, and operating room staff. Mazor Robotics' flagship product, Renaissance™, is a state-of-the-art surgical robotic system that enables surgeons to conduct spine surgeries in an accurate and secure manner. Mazor Robotics systems have been successfully used in the placement of over 20,000 implants in the United States and Europe. Numerous peer-reviewed publications and presentations at leading scientific conferences have validated the accuracy, usability, and clinical advantages of Mazor Robotics technology. For more information, please visit www.mazorrobotics.com.