BNY Mellon, the global leader in investment management and investment services, has been appointed by Mazor Robotics Ltd. as depositary bank for its American depositary receipt (ADR) program. Each Mazor Robotics ADR represents two ordinary shares and trades on NASDAQ under the symbol "MZOR." Mazor Robotics' ordinary shares trade on the Tel Aviv Stock Exchange under the symbol "MZOR."
Mazor Robotics develops innovative surgical guidance systems and complementary products in the spinal surgery market that have been used in more than 35,000 implants in the U.S., Asia and Europe. Its flagship product, Renaissance(TM), is a state-of-the-art system that enables surgeons to conduct spinal surgeries accurately. Numerous peer-reviewed publications and presentations at leading scientific conferences have validated the accuracy, usability and clinical advantages of Mazor Robotics' technology.
"The momentum created by the successful market penetration of our Renaissance systems, coupled with the availability of our ADRs on NASDAQ, means U.S. investors will be able to share in our continued progress," commented Ori Hadomi, Mazor Robotics' president and CEO.
"Mazor's decision shows yet another Israeli company understanding the many benefits of DRs both for issuing companies and their investors abroad," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "We believe their listing in the U.S. has the potential to widen Mazor's investor base dramatically."