At the forefront of medical innovation, LaNua Medical secures significant funding to transform internal bleeding treatments.
Irish university spin-out LaNua Medical has successfully raised €6 million in seed funding, setting the stage for groundbreaking advancements in medical technology. The newly secured capital will fuel the development of the Ecore device, a revolutionary tool aimed at enhancing the safety, efficiency, and affordability of treating internal bleeding and various tumors.
Introducing the Ecore Device: A Game-Changer in Embolisation Procedures
LaNua Medical’s flagship product, the Ecore device, is poised to redefine embolisation procedures. Designed to modernize how surgeons and radiologists control blood flow, Ecore offers a safer and more targeted approach.
The device’s umbrella-shaped design allows it to enter deep within blood vessels, creating an occlusive barrier that effectively restricts blood flow. This innovation not only improves patient outcomes but also reduces hospital costs and minimizes the duration of hospital stays.
Dr. Cormac Farrelly, co-founder and interventional radiologist, emphasizes the device’s impact: “It will not just make existing procedures safer and more effective, but will also enable new clinical applications for minimally invasive embolisation procedures worldwide.”
The Team Behind LaNua Medical’s Success
LaNua Medical was founded earlier this year by a team of experienced professionals passionate about advancing medical technology.
- Dr. Cormac Farrelly: An interventional radiologist with thousands of embolisation procedures under his belt.
- Tom Fitzmaurice: Former Vice President at Medtronic, bringing extensive industry experience.
- Dr. Eoin O’Cearbhaill and Dr. Sajjad Amiri: UCD biomedical engineers driving the technical innovation behind Ecore.
Their combined expertise ensures that LaNua is well-equipped to tackle the challenges of medical device development and commercialization. The team’s diverse backgrounds foster a collaborative environment, essential for pioneering new medical solutions.
Strategic Funding and Future Growth Plans
The €6 million seed round was co-led by Elkstone and Atlantic Bridge, with participation from Enterprise Ireland and Furthr VC. This substantial investment underscores the confidence investors have in LaNua Medical’s vision and potential.
Allocation of Funds:
- Product Development: Accelerate the refinement and testing of the Ecore device.
- Market Access: Expand into key markets, particularly the United States.
- Talent Acquisition: Hire additional skilled resources to support growth and innovation.
Mr. Fitzmaurice, CEO and co-founder, highlighted the significance of the funding: “It will enable our team to hire additional skilled resources, develop a range of devices to meet the growing demands of embolisation in the interventional radiology medical community and gain entry into our first market in the United States.”
Investor Insights: Confidence in LaNua’s Potential
Elkstone’s head of venture, Niall McEvoy, expressed strong support for LaNua Medical: “LaNua, led by an experienced founder team, has the potential to become another great success story, and we look forward to supporting the company on that journey.”
Enterprise Ireland’s Damien McCarney also lauded the partnership: “The state investor had partnered with LaNua Medical during rapid growth through research commercialization, our flagship High Potential Start-up Programme and in international markets.”
Why Investors are Excited:
- Innovative Technology: Ecore addresses a critical need in medical procedures.
- Experienced Team: Founders with proven track records in the medical and engineering fields.
- Market Potential: Significant demand for safer and more efficient embolisation tools.
- Scalability: Potential to expand into global markets, enhancing patient care worldwide.
The Road Ahead for LaNua Medical
With the fresh capital injection, LaNua Medical is set to expedite the development of the Ecore device and prepare for its market launch. The focus will be on:
- Enhancing Device Features: Ensuring Ecore meets the highest safety and efficacy standards.
- Regulatory Approvals: Navigating the necessary certifications to bring Ecore to hospitals and clinics.
- Global Expansion: Establishing a presence in the United States and other key markets to maximize impact.
LaNua’s commitment to innovation promises to deliver a device that not only improves medical procedures but also contributes to better patient outcomes and reduced healthcare costs.
