Nua Surgical Pioneers C-Section Revolution with EQT's Funding
Deal News | Dec 06, 2024 | EQT
EQT Life Sciences, employing its Health Economics strategy, has led a $6.5 million Series A financing round for Irish medical device innovator Nua Surgical. This marks a key step towards advancing the SteriCISION C-Section Retractor, a first-of-its-kind self-retaining retractor designed specifically for Caesarean section (C-section) surgeries. With over 30 million C-sections performed annually globally, the device promises to enhance operating conditions, reduce surgical complications, and improve patient outcomes. The investment round also saw participation from Kidron Capital, Texas Medical Center (TMC) Venture Fund, and Enterprise Ireland among others. Proceeds are earmarked for regulatory approval, commercialization, team expansion, and establishing manufacturing operations in Ireland. The SteriCISION device, being a single-use and ergonomically designed tool, aims to facilitate safer and more efficient C-section procedures. This financial boost and expert guidance from experienced investors marks significant progression for the company. As part of this development, key members from EQT and Kidron are now joining the Nua Surgical Board to guide its market entry.
Sectors
- Healthcare
- Medical Devices
- Venture Capital
Geography
- Ireland – Nua Surgical is based in Galway, Ireland, where they are advancing their innovations in medical technology.
- United States – The involvement of US-based investors like Texas Medical Center Venture Fund signifies cross-border investment dynamics.
Industry
- Healthcare – The article is centered around health innovations, particularly within maternal health, addressing challenges related to C-sections.
- Medical Devices – Nua Surgical's development and advancement of the SteriCISION C-Section Retractor highlight the focus on medical device innovation.
- Venture Capital – EQT Life Sciences and other investors are providing venture capital funding to support the growth and commercial ambitions of Nua Surgical.
Financials
- 6.5 million – Series A financing amount led by EQT Life Sciences for Nua Surgical.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nua Surgical | Target | Company | An Irish medical device company innovating in maternal health, particularly with the development of the SteriCISION device. |
| EQT Life Sciences | Bidding Company/Investor | Company | Leading the Series A funding round, EQT Life Sciences is investing in Nua Surgical to support the commercialization of SteriCISION. |
| Kidron Capital | Investor | Company | A new investor supporting the Series A funding round for Nua Surgical. |
| Texas Medical Center Venture Fund | Investor | Company | A new investor participating in the Series A funding round for Nua Surgical. |
| Enterprise Ireland | Investor | Company | An existing investor that has previously supported Nua Surgical. |
| Barry McCann | CEO | Person | CEO and co-founder of Nua Surgical, spearheading the company's innovative ventures in maternal health. |
| Anne Portwich | Partner | Person | Partner at EQT Life Sciences, joining the Board of Directors of Nua Surgical as part of the investment strategy. |
| Anula Jayasuriya | Co-Founder | Person | Co-founder of Kidron Capital, joining the Board of Directors of Nua Surgical. |