Mainstay Medical Holdings, a Dublin, Ireland-based medical device company, announced an equity financing in which it received gross proceeds of US$125M.
The financing was led by Gilde Healthcare and Viking Global Investors. Existing investors who participated in the financing included Ally Bridge Group, Sofinnova Partners (Crossover Fund), Fountain Healthcare Partners, and Perceptive Advisors.
The company intends to use the funds to support its continued commercial growth of ReActiv8® Restorative Neurostimulation in the U.S., Europe and Australia, additional post-market clinical studies and research, and general operations.
Led by CEO Jason Hannon, Mainstay Medical is a medical device company focused on commercializing its innovative implantable Restorative Neurostimulation system, ReActiv8, for people with disabling mechanical CLBP.
It has subsidiaries operating in Ireland, the United States, Australia, Germany, and the Netherlands.
Commenting on the news, Jason Hannon said: “A financing of this magnitude will allow us to accelerate our efforts to revolutionize the treatment of mechanical low back pain through ReActiv8 Restorative Neurostimulation, including by continuing our rapid commercial growth and building on our insurance coverage for ReActiv8.”
FinSMEs
27/02/2024