neoSurgical, a Dublin, EIRE-based medical technology company focused on advancing surgical wound healing, raised an additional $5.5m in the initial close of the Series B equity financing.
The round was led by existing investors including the San Antonio-based Targeted Technology Fund 2.
The company, which intends to raise an additional $1.75M to complete the round, intends to use the capital to expand the development, manufacturing, and commercialization of its neoClose product platform.
Led by Pauric O’Grady, Chairman, neoSurgical is advancing neoClose, a solution to assist the surgeon in closing port site defects, up to 3cm, following laparoscopic abdominal surgery. It has now been used more than 25,000 times in hospitals across the United States.
The company has recently entered into an exclusive European distribution agreement with one of the largest global leaders in healthcare.