Xaga Surgical, a Helsingborg-based HealthTech startup, has raised a complete of €698k in an funding spherical to be able to develop to the US and additional develop their revolutionary medical needles to scale back the chance of infections and enhance most cancers diagnostics.
The funding spherical included a €261k contribution from SmiLe Inject Capital, in addition to participation from Almi Make investments and personal traders.
“The worldwide marketplace for medical needles faces vital challenges, with over 50 million folks yearly prone to well being points associated to needle infections, costing an estimated 80 billion USD,” famous Andreas Forsvall, Founder and CEO of Xaga Surgical. “Our expertise is designed to deal with this want and create safer and extra environment friendly healthcare options.”
Based in 2016 by urologist Dr Andreas Forsvall, Xaga Surgical was based mostly on two of his sufferers who developed sepsis following prostate biopsies. This expertise led to the realisation that present needle designs posed a major threat of bacterial switch to sterile tissues.
It grew to become clear to Dr Forsvall that the prevailing design posed a major threat of transferring micro organism into sterile tissue. Surprisingly, there have been no different needle designs accessible, and scientific literature provided no options. Prototypes have been made and subsequent rigorous testing, research and refinement validated the expertise’s effectiveness, setting the stage for Xaga Surgical to innovate each an infection prevention and most cancers diagnostics.
The corporate has developed a patented expertise that reduces bacterial transmission throughout biopsies reportedly by 96%, considerably reducing an infection dangers and enhancing precision in most cancers diagnostics. Xaga Surgical has additionally outlined that they intend for this to deal with the issue of three.4 million annual hospital acquired infections attributable to needles.
Based on Xaga Surgical, “Yearly, over 50 million people are needlessly uncovered to well being dangers throughout needle punctures. Needle induced infections and suboptimal most cancers diagnostis are incurring an estimated annual healthcare and public value of $80 billion. We firmly imagine that the crux of this difficulty lies in needle design, and our expertise stands as a rational resolution. Remarkably, to our information, Xaga Surgical stands as the only entity globally devoted to addressing this urgent concern, underscoring the immense duty we bear for the longer term.”
The capital might be used to begin commercialisation, safe FDA approval, and facilitate entry into the U.S. market.
“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,” mentioned Thomas Unt, CEO of SmiLe Inject Capital. “Xaga Surgical has an exceptionally expert crew and a novel innovation that has garnered vital consideration, promising to boost the protection of most cancers diagnostics.”
Xaga Surgical is a part of SmiLe’s incubator programme. SmiLe Inject Capital is Sweden’s solely angel funding firm specializing in promising early-stage life science corporations. Via SmiLe Inject Capital, non-public traders achieve entry to SmiLe’s life science experience, worldwide networks, and distinctive insights into early-stage life science corporations. The funding is supported by skilled enterprise angels together with the state-owned enterprise capital firm Saminvest.
