Medtech company Nua Surgical raises €6.5m in financing round

RDJ advised Nua Surgical, a medical technology firm based in Galway on its €6.5 million Series A equity investment led by Swedish investor EQT Life Sciences and supported by the Texas Medical Center Venture Fund (TMCVF), Kidron Capital and existing investors including Enterprise Ireland.

The Enterprise Ireland-backed company, which grew out of the BioInnovate Ireland programme at the University of Galway, is dedicated to pursuing solutions to unmet clinical needs in obstetric surgery. Their current product, called SteriCision, is designed specifically for Caesarean section surgeries and is aimed at reducing the risk factors associated with the procedure that can lead to complications.

The company plans to use the funding to expand its team, establish a manufacturing base in the Republic and ramp up towards its goal of receiving US Federal Drug Administration clearance for its device to be used in clinical settings.

The RDJ transaction team included JP Gilmartin, Conor Moran and Evan Fitzgerald (Corporate and Commercial).

Pictured (L-R): Nua Surgical Founders Padraig Maher, Marie-Therese Maher and Barry McCann. Photo Credit: Andrew Downes