Nua Surgical Secures €6.5M in Series A Funding Led by EQT Life Sciences
Deal News | Dec 06, 2024 | PR Newswire Cision EQT
Nua Surgical, an Irish company specializing in maternal health, has successfully raised €6.5 million in Series A funding led by EQT Life Sciences. The financing aims to advance the development and commercialization of their flagship product, the SteriCISION C-Section Retractor, designed specifically for Caesarean section surgeries. This device addresses surgical challenges by providing adjustable and safe retraction, crucial for preventing complications. The funding round also saw participation from Kidron Capital, the Texas Medical Center Venture Fund, and supported by existing investors from Ireland and the US. The funds will be utilized for regulatory approvals, commercialization, team expansion, and manufacturing establishment in Ireland, targeting FDA clearance. Key investor representatives will join Nua Surgical’s board, signifying strong backing as the company progresses towards market entry.
Sectors
- Healthcare
- Medical Devices
- Venture Capital
Geography
- Ireland – Nua Surgical is based in Ireland, where the manufacturing and regulatory activities are focused.
- United States – Participation from American investors, namely Texas Medical Center Venture Fund and stakeholders from the US, is highlighted in the article.
- Sweden – The EQT Group, leading the funding round, is headquartered in Stockholm, Sweden.
Industry
- Healthcare – Nua Surgical operates within the healthcare industry, specifically focusing on innovations in maternal health products.
- Medical Devices – The focus of the article is on the SteriCISION C-Section Retractor developed by Nua Surgical, indicating its alignment with the medical devices sector.
- Venture Capital – EQT Life Sciences, Kidron Capital, and TMC Venture Fund are investing in Nua Surgical, thus placing the activity within the realm of venture capital.
Financials
- €6.5M – Series A funding secured by Nua Surgical to advance the SteriCISION product.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nua Surgical | Target Company | Company | Irish company focusing on innovations in maternal health. |
| EQT Life Sciences | Lead Investor | Company | A division of EQT Group focused on healthcare-related investments. |
| Kidron Capital | Investor | Company | Venture capital firm co-investing in the Series A round. |
| Texas Medical Center Venture Fund | Investor | Company | American investor supporting healthcare startups. |
| Enterprise Ireland | Investor | Government | A government agency responsible for supporting businesses in Ireland. |
| Barry McCann | CEO | Person | CEO of Nua Surgical, overseeing the company's strategic direction. |
| Anne Portwich | Partner | Person | Partner at EQT, responsible for life sciences investments. |
| Anula Jayasuriya | Co-Founder | Person | Co-Founder of Kidron Capital also joining Nua Surgical's board. |
| Gabrielle Guttman | Board Observer | Person | Representative from TMC Venture Fund observing Nua Surgical’s board. |
| Prashanthi Ramesh | Board Observer | Person | Representative from EQT observing Nua Surgical’s board. |