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FDA-cleared single-sided MRI now installed in U.S. urology clinics Zydus Lifesciences backs Promaxo via Zynext Ventures (2024) 60+ patents on magnet design, imaging, and robotics $72M+ raised across rounds, per public filings The magnet you don't lie inside Oakland HQ - 70 Washington St. ~56 people, three disciplines: physics, software, robotics
Promaxo wordmark
Promaxo, wordmark in white - the company likes negative space.
COMPANY PROFILE · MEDTECH

Promaxo built an MRI that fits in the office.

The world's first single-sided interventional MRI. Compact, FDA-cleared, and quietly rewriting the prostate-care workflow from Oakland, California.

2016
FOUNDED
60+
PATENTS
$72M
RAISED
~56
EMPLOYEES

§ 01 - PRESENT TENSEThe office where the MRI lives down the hall

Walk into a modern urology clinic on a Tuesday morning. The waiting room is full of men in their sixties. A nurse calls a name, and the patient does not get loaded into an ambulance, or sent across town to a hospital basement, or scheduled three weeks out for a tube-shaped scanner the size of a small car. He walks down the hall. Into a normal exam room. And lies down next to a magnet that looks more like a tanning bed than a piece of imaging equipment.

This is the room Promaxo is trying to fill. Not next year - now. The Promaxo MRI System is FDA 510(k)-cleared for MRI-guided prostate biopsy, and it is doing something the imaging industry spent three decades calling impractical: putting a real magnetic resonance imager inside a private clinic, with no faraday cage, no liquid helium refill schedule, and no architectural retrofit.

It is a small bet about a big idea. The big idea: cancer care moves where the patient already is. The small bet: a magnet only needs one side.

We did not want to make a smaller MRI. We wanted to make a different one. - The Promaxo design thesis, paraphrased

§ 02 - THE PROBLEMProstate care has a logistics problem

About one in eight American men will be diagnosed with prostate cancer. The standard pathway runs through a series of expensive appointments, in expensive rooms, on expensive machines, scheduled around the lives of hospital radiologists. A patient with an elevated PSA result might wait weeks for an MRI, then weeks more for a biopsy, then weeks again for a treatment plan. The cancer, of course, does not wait.

The bottleneck is not skill - urologists are perfectly capable of performing targeted biopsies. The bottleneck is the imaging stack. Conventional MRI is a marvel of physics and a nightmare of facilities planning. The magnet is heavy. The cryogenics are fussy. The shielding requirements are baroque. So MRI lives in hospitals, and patients orbit the hospitals.

Promaxo's founders looked at this and asked a slightly impertinent question: what if the patient orbit was the wrong loop?

The hospital MRI was designed for a world where the hospital was the center of medicine. That world is shifting. - Industry summary, point-of-care imaging

§ 03 - THE BETOne-sided magnets, two-handed founders

In 2016, Dr. Amit Vohra - a physicist and entrepreneur with a doctorate in materials science and an MBA on top of it - co-founded Promaxo in Oakland with the proposition that an MRI does not have to be a tube. It can be a slab. A single-sided magnet generates its field on one face, not all around the patient, which means the field can be tuned to image a specific anatomy - say, a prostate - without enveloping the rest of the body. The fringe field shrinks. The shielding burden disappears. The room requirements collapse into something you could plumb into a strip-mall clinic.

Most physicists, on hearing this pitch, would politely point out the trade-offs. Single-sided magnets have weaker, less uniform fields than traditional MRI. The signal-to-noise ratio is harder. The image reconstruction is harder. The acquisition sequences are harder. Almost everything, in fact, is harder.

Promaxo accepted the harder. The bet was that artificial intelligence - applied to reconstruction, denoising, and lesion targeting - could close the quality gap that physics opened. Combined with robotic needle guidance and a clinician workflow built around urologists rather than radiologists, the single-sided magnet stopped being a compromise and started being a category.

A weaker magnet, smarter software, and a room you can actually rent. - Three sentences that took eight years

§ 04 - THE PRODUCTMRI plus AI plus robotics, in that order

Promaxo MRI System

The flagship hardware. A single-sided, open, low-fringe-field magnet that performs MRI-guided prostate biopsy in a standard exam room. FDA 510(k) cleared. No diagnostic-grade rating - that line is held by hospital scanners - but plenty of acuity for image-guided intervention.

AI Imaging Suite

Pre-programmed sequences, image reconstruction, and lesion-targeting algorithms designed to wring clinical utility out of a non-traditional field. Several AI features remain investigational, pending further clearances.

Robotic Needle Guidance

Robotics that operate under live MR guidance, aimed at making targeted biopsy - and, eventually, focal therapy - faster, more repeatable, and less dependent on operator hand-eye athletics. Currently investigational.

The stack reads like a deck slide until you remember the constraint: all of this has to fit in a room, run on standard building power, and be operated by a clinical team that is not staffed with MRI physicists. The product is the integration. The hardware alone is not the moat.

Anyone can build a magnet. The trick is building one a urologist will actually turn on. - The harder half of medtech

§ 05 - HOW WE GOT HEREA medtech timeline, mostly quiet

2016
Promaxo founded in Oakland by Dr. Amit Vohra and co-founder Michael Bartholomew. The pitch deck talks a lot about magnets.
2019
$8M financing round closed. Engineering team scales; first prototypes head into clinical environments.
2020
Series B-1 first tranche led by Kineticos Disruptor Fund. MedTech Innovator alum.
2021
FDA 510(k) clearance for the Promaxo MRI Platform. The single-sided thesis is, formally, a product.
2022
Open, compact, AI-driven Promaxo MRI system featured as a transformative platform for in-office prostate care.
2024
Zynext Ventures (the VC arm of Zydus Lifesciences) announces strategic investment. New ~$31.6M equity raise filed.
2026
Active installations in U.S. urology practices; AI and robotics features advancing through investigational milestones.
SOURCE - Company press releases and SEC filings. Some milestones approximate.

§ 06 - PROOF, OR THE PURSUIT OF ITPatents, partners, and a pile of dollars

The case for Promaxo, beyond the clearance, rests on three external signals. First, a portfolio of more than sixty patents, suggesting that the single-sided approach has accumulated a meaningful technical moat. Second, partnership and capital from Zydus Lifesciences - a name with weight in the global pharmaceutical industry - which validates the platform as more than a regional curiosity. Third, the willingness of urology practices to actually buy and install the thing. Hardware sales in medtech are a stiff test.

FUNDING SIGNAL - cumulative capital raised (approx., USD)
2019
$8M
2020 - 2023
$19M+
2024
$50.9M
Total to date
~$72M
Sourced from press releases, SEC filings, and third-party trackers. Round structure varies.
Capital is not validation, but installed hardware is. - Promaxo, in spirit if not in print

§ 07 - THE MISSIONImprove lives, with a magnet

The official mission statement is the kind of thing every medtech company writes: improve lives through state-of-the-art medical imaging, robotics, and AI. The unofficial mission is more interesting. It is a quiet argument that the right unit of innovation in modern medicine is the workflow, not the device. A scanner that produces the most beautiful images in the world is useless if the patient cannot get to it, the radiologist cannot read it in time, and the urologist cannot act on the result the same day.

Promaxo's wager is that compressing the entire diagnostic-to-treatment loop into one room, one visit, one clinician's calendar, changes outcomes. Maybe not in the dramatic way a new chemotherapy does, but in the boring, durable way that better logistics always do: more people get cared for, sooner, with less inconvenience, at lower system cost.

§ 08 - TOMORROWWhy the next room matters

If single-sided MRI works for the prostate, the question becomes: what else fits in a single-sided field? Breast. Knee. Wrist. Pediatric imaging. Anywhere a clinic-grade scanner could replace a hospital-grade workflow. Promaxo has not promised any of these, and would be wise not to. But the architecture is, in principle, extensible. Other anatomies are other product lines.

There is also a quieter shift underway in how American medicine is paid for - ambulatory surgery centers, outpatient procedures, and value-based care models all reward exactly the workflow Promaxo enables. The reimbursement codes for MRI-guided prostate procedures already exist. The hardware to take advantage of them did not. Now it does.

Health care, like most things, follows the path of fewer steps. Eventually. - The slow, stubborn arc of medtech

§ 09 - BACK TO THE OFFICEThe room, revisited

Return to the clinic. The patient is on the table next to a magnet that hums a little less than the ones he has seen on television. The urologist - the same person who has been managing his care for years - operates the workflow herself. The image comes up. A target is identified. A needle, guided by software, finds the lesion. The whole episode takes the time of a long lunch, not a lost day.

That is the room Promaxo wants to be unremarkable. Not the cutting edge of anything. Not a curiosity in a vendor booth. Just the room down the hall, where prostate care happens, with the magnet on the table and the patient walking out under his own steam. There is no drama in that picture. That is the point.

medtechmriprostate-cancer roboticsaipoint-of-care oaklandfda-cleared

§ 10 - WHERE TO LOOK NEXTDirect lines

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