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Promaxo

Promaxo

Oakland, United States· Est.
promaxo.com
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Private Company

Total funding raised: $60M

Overview

Promaxo is a private, commercial-stage medical device company pioneering in-office, interventional MRI for prostate cancer. Its core product is a compact, portable MRI system that allows urologists to perform MRI-guided biopsies and treatments within their own clinics, potentially increasing detection rates of clinically significant cancer. The company leverages AI and is developing robotic assistance to enhance precision. Promaxo's model targets the large prostate cancer diagnosis and treatment market by improving workflow for physicians and accessibility for patients.

OncologyUrology

Technology Platform

Portable, low-field (0.064T) MRI system integrated with AI/ML for image enhancement and robotic assistance for interventional procedures, designed for in-office use.

Funding History

3
Total raised:$60M
Series B$35M
Series A$20M
Seed$5M

Opportunities

The large and growing global prostate cancer diagnostics market presents a major opportunity, driven by an aging population.
Promaxo's in-office model addresses critical needs for improved patient access, workflow efficiency for urologists, and higher diagnostic accuracy, creating a compelling value proposition for practice adoption and potential revenue capture.

Risk Factors

Key risks include slow commercial adoption by urologists due to workflow change and capital cost, uncertainty and potential changes in insurance reimbursement for in-office MRI-guided procedures, and competition from both the entrenched standard of care and other emerging technologies aiming to improve prostate cancer diagnosis.

Competitive Landscape

Promaxo competes against the standard of care (ultrasound-guided biopsy and high-field MRI with fusion biopsy performed in hospitals). It also faces potential competition from other companies developing in-office biopsy solutions, advanced ultrasound with AI, and other low-field MRI systems. Its primary differentiator is the integrated, portable MRI platform designed specifically for urology office procedures.

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