Nua Surgical, a Galway, Ireland based medical device company innovating in maternal health, raised €6.5m in Series A financing.
The round was led by EQT Life Sciences with participation from new investors Kidron Capital and the Texas Medical Center (TMC) Venture Fund and existing investors including Enterprise Ireland and business veterans from Ireland and the US. With the closure of this round, Anne Portwich, Partner at EQT, and Anula Jayasuriya, Co-Founder of Kidron Capital, will join the Nua Surgical Board of Directors, while Gabrielle Guttman of TMC Venture Fund and Prashanthi Ramesh of EQT will serve as Board Observers.
The company intends to use the funds to drive the regulatory clearance and early commercialization of the company product, the SteriCISION C-Section Retractor. This includes expanding the team, establishing manufacturing in Ireland, and meeting the regulatory requirements necessary to gain FDA clearance.
Led by Barry McCann, CEO, Nua is advancing the SteriCISION C-Section Retractor, a self-retaining surgical retractor specifically designed for the unique dynamics of C-section surgery. This ergonomically designed and patented device provides fast, adjustable, and safe retraction, enabling clinicians to deliver the baby, repair tissue, and, crucially, identify bleeds. As a single-use sterile device, it aims to reduce the risk factors that lead to surgical complications, benefiting the patient, the clinician, and the healthcare system. The new investment will support Nua Surgical’s next phase of development and the early commercialization of SteriCISION.
FinSMEs
06/12/2024