XACT Robotics

Company Overview

Snapshot

Founded in August 2013 by Harel Gadot, XACT Robotics operated with 11–50 employees. The company raised $51 million across 4 funding rounds from 4 investors. A significant milestone was achieved in July 2020 when the XACT ACE™ Robotic System received FDA clearance for image-guided percutaneous procedures.

Business overview

XACT Robotics developed a robotic technology platform for needle steering in minimally invasive interventional procedures, such as biopsies and ablations. Its core technology utilized a five-degrees-of-freedom robot, continuous needle path calculation, and real-time closed-loop control to actively compensate for patient movement. This enabled precise and safe needle insertion, even with complex angulation 3D trajectories. The company's technology was applicable across various procedures and target organs, integrating with different imaging systems within the image-guided and robot-assisted surgery market. XACT Robotics initially focused on a system comprising a patient-mounted robot, a control unit, and a workstation for procedure planning and observation, serving the healthcare sector.

Strategic signal

In September 2023, XACT Robotics ceased operations and laid off 65 employees. This event signals a significant downturn for the company, indicating a failure to sustain its business model despite prior FDA clearance and substantial funding. For investors, this highlights the inherent risks in the medical device sector, particularly for companies reliant on complex robotic systems that may face challenges in market adoption, reimbursement, or operational scalability.

Company Intelligence Q&A

What was the primary reason for XACT Robotics ceasing operations?

In September 2023, XACT Robotics shut down its operations and laid off 65 employees, as reported by en.globes.co.il.

When did XACT Robotics receive FDA clearance for its robotic system?

In July 2020, the XACT ACE™ Robotic System received clearance from the FDA for image-guided percutaneous procedures.

When did XACT Robotics receive CE Mark for its robotics navigation system?

In September 2018, XACT Robotics received the CE Mark for its robotics navigation system designed for percutaneous procedures.

Who was appointed as Vice President of Sales and Marketing at XACT Robotics?

In November 2019, XACT Robotics appointed Brian L. Allen as its Vice President of Sales and Marketing.

When did XACT Robotics expand its patent portfolio to include ultrasound technology?

In March 2019, XACT Robotics expanded its patent portfolio to incorporate the use of ultrasound technology.