Galway-based startup Nua Surgical, a medical device company innovating in maternal health, has raised €6.5 million in a Series A funding round led by EQT Life Sciences. The company will use the funds for manufacturing, testing, regulatory clearance, and early commercialization of its SteriCISION® C-Section Retractor.
- Founded in 2019 by Barry McCann, Marie-Therese Maher, and Padraig Maher, Nua Surgical focuses on providing medical solutions to improve women’s health, with an emphasis on obstetric surgery.
- The company’s main product, the SteriCISION® C-Section Retractor, is a self-retaining surgical tool specifically designed for Caesarean surgeries. It provides fast, adjustable, and safe retraction, assisting clinicians in delivering the baby, repairing tissue, and identifying bleeds.
- As a single-use sterile device, the SteriCISION® C-Section Retractor helps reduce the risk of surgical complications by enhancing access and visualization during the procedure, ultimately improving safety and minimizing potential issues for both patients and healthcare professionals.
Details of the deal
- The Series A investment was led by EQT Life Sciences, which invested through its EQT Health Economics strategy. EQT Life Sciences is an Amsterdam-based venture capital firm that supports life sciences and healthcare companies across Europe.
“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," Explains Anne Portwich, Partner at EQT.
- The round also saw participation by new investors Houston-based Texas Medical Center Venture Fund and Kidron Capital, as well as existing investors including Dublin-based state agency Enterprise Ireland and business veterans.
- Nua Surgical will use the funds to expand the team, establish manufacturing in Ireland, and meet FDA regulatory requirements for the early commercialization of the SteriCISION® C-Section Retractor.
"Securing this Series A financing is a crucial milestone for Nua Surgical. We are eager to leverage their expertise as we move towards commercializing SteriCISION®," CEO of Nua Surgical, Barry McCann, stated.
