Helsingborg-based Xaga Surgical, a Swedish medical know-how firm, has accomplished a SEK 8M (roughly €698K) funding spherical.
Almi Make investments contributed SEK 3M (roughly €261K), with further funding from Smile Inject Capital and personal buyers.
Thomas Unt, CEO of SmiLe Inject Capital, says, “Our funding in Xaga Surgical is a part of our dedication to supporting life science corporations in commercialising their improvements to contribute to international well being.”
“Xaga Surgical has an exceptionally expert group and a singular innovation that has garnered important consideration, promising to reinforce the protection of most cancers diagnostics.”
Xaga is a part of SmiLe’s incubator programme.
Capital utilisation
Xaga Surgical specialises in growing superior medical needles designed to minimise an infection dangers and enhance most cancers diagnostics.
Andreas Forsvall, founder and CEO of Xaga Surgical, says, “The worldwide marketplace for medical needles faces important challenges, with over 50 million individuals yearly vulnerable to well being points associated to needle infections, costing an estimated $80B.”
“Our know-how is designed to deal with this want and create safer and extra environment friendly healthcare options.”
The funds will assist the corporate’s efforts to start commercialisation, safe FDA approval, and enter the US market.
“Reinventing the medical needle”
Based in 2016, Xaga Surgical develops modern medical needles to reinforce affected person security and most cancers diagnostics.
The journey of Xaga started in 2014 when Forsvall encountered two instances of sepsis following prostate biopsies. Realising the dangers posed by current needle designs and the dearth of options, he launched into a mission to create safer options.
After rigorous testing and refinement, Xaga developed patented know-how that reduces bacterial switch throughout biopsies by 96 per cent, enhancing an infection prevention and most cancers diagnostic precision.
The corporate’s patented know-how reduces bacterial transmission throughout biopsies by 96 per cent, considerably decreasing an infection dangers and enhancing diagnostic precision.
The corporate now additionally addresses hospital-acquired infections with modern fluid and port needles, aiming to rework healthcare security and effectivity.
SmiLe Inject Capital and Enterprise Hub
SmiLe Inject Capital claims to be Sweden’s solely angel funding firm centered on early-stage life science corporations, offering non-public buyers entry to SmiLe’s experience, networks, and insights. The funding is supported by enterprise angels and Saminvest.
SmiLe is a non-profit enterprise hub in Lund, Sweden, supporting life science startups from idea to commercialisation via incubation programmes, instructional programs, and lab services.
Its incubator programme has supported over 110 startups, elevating over €1.03B in enterprise capital and attaining 21 IPOs. The agency is supported by Area Skåne, Lund Municipality, Lund College, Medicon Village, and trade companions.
