Nua Surgical, a Galway-based medtech business, expects to close its €6.5 million Series A funding round in the coming weeks.
The firm, which is based at the Innovation Hub in Atlantic Technological University in Galway, was founded by Barry McCann, Marie-Therese Maher and Padraig Maher in 2019. To date, it has raised €2.3 million and has three full-time staff along with four consultants.
Nua Surgical has developed a hands-free device for Caesarean sections, called the SteriCision c-section retractor.
“We’re developing solutions to improve outcomes in women’s healthcare, initially focused on women’s health. The goal of the retractor is to improve access to the uterus and reduce complications,” McCann told the Business Post.
“The key to good surgery is good visualisation. The SteriCision is a self-retaining retractor. It holds all the abdominal tissue out of the way so the obstetrician and their assistant can gain unobstructed access to the uterus.”
The standard tools used today are handheld retractors, which require additional medical personnel and reduces working space for obstetricians. The SteriCision provides a much clearer working environment.
The idea for the business grew out of BioInnovate Ireland in Galway. McCann focused on obstetrics and gynaecology across the 10-month programme. It was through a connection at BioInnovate that he was introduced to his co-founders.
“The unmet need that we’re answering shone to the top out of the areas identified. I’m a father of two and that involved its own challenges and complications. It motivated me to find a way to improve outcomes for women and newborns,” McCann said.
High potential
Beyond grant funding, McCann said Enterprise Ireland had provided substantial support to the business.
Nua Surgical is part of the agency’s high potential start-up unit and McCann has been nominated for the Enterprise Ireland HPSU Founder of the Year awards, taking place on October 17.
“One of the key things for us has been their presence in the US. I’ve engaged closely with the US team they have on the ground over there. They have supported some of promotional activity when we went over there,” said McCann. “On top of that, we’ve received a lot of support from our development advisor in Dublin.”
With the funding round expected to close in the coming weeks, the business is in the process of getting ready for approval from US regulators next year before reaching the market in 2026.
“We’re at a pivotal stage. We’ve locked in our final designs and material selections. The funding round that we’re closing now will give us the runway to get the product to market. The finished product will be fully developed in Ireland,” McCann said.
“Ideally, at the end of next year, we’ll be going to the US Food and Drug Adminisration. That should take another three to six months before we get on the market in 2026.”
This Making it Work article is produced in partnership with Enterprise Ireland
