Nua Surgical has concluded a €6.5m Series A funding round to advance its caesarean surgery (C-section) assistance device.
The Irish medical device company Nua Surgical’s SteriCISION C-Section Retractor device is designed to provide adjustable and safe retraction to aid clinicians in delivering babies, repairing tissue, and identifying potential bleeds during C-section procedures.
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As a single-use sterile device, it is intended to reduce the risk factors that can lead to surgical complications during C-sections.
Nua Surgical said it would use the funds to support its next phase of development and the early commercialisation of SteriCISION. This would cover areas that include expanding its headcount, establishing manufacturing capabilities for the device within Ireland, and addressing the regulatory requirements to obtain future market clearance from the US Food and Drug Administration (FDA).
Nua Surgical CEO Barry McAnn commented: “Securing this Series A financing is a crucial milestone for Nua Surgical.
“It not only provides the capital needed to advance our product but also brings on board a group of experienced investors who share our vision for transforming maternal health. We are eager to leverage their expertise as we move towards commercializing SteriCISION.”
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By GlobalDataEQT partner Anne Portwich commented: “We are excited to support the company’s journey towards market entry. This innovative device shows promise in potentially improving the quality of care and reducing healthcare costs, making it a perfect fit for our EQT Health Economics strategy.”
Nua Surgical’s funding round was led by new investor EQT Life Sciences, which invested through its EQT Health Economics strategy and featured participation from other new investors, including Texas Medical Center Venture Fund and Kidron Capital, as well as existing investors such as Enterprise Ireland.
