neoSurgical Raises $5.5M in Series B Funding

Wednesday, June 7, 2017 General News
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DUBLIN, June 6, 2017 /PRNewswire/ -- neoSurgical®, LTD., a private medical technology company focused on advancing

surgical wound healing, is pleased to report they have raised an additional $5.5 million in equity financing. neoSurgical® intends to raise an additional $1.75M to complete the round,
which was led primarily by existing investors including the San Antonio-based Targeted Technology Fund 2.

This initial close of the Series B round of financing will be used to expand the development, manufacturing, and commercialization of the company's neoClose product platform. neoClose® is a simple, intuitive and reliable solution to assist the surgeon in closing port site defects, up to 3cm, following laparoscopic abdominal surgery. By utilizing bio-absorbable anchors and a Vector-X closure, neoClose® is changing the standard of care in port site closure. 

"neoSurgical® has done a remarkable job of commercializing the neoClose® product for laparoscopic port site closures," said Pauric O'Grady, Chairman of neoSurgical. "neoClose® is achieving rapid adoption in the US and the company has recently entered into an exclusive European distribution agreement with one of the largest global leaders in healthcare."

About neoSurgical®neoSurgical® is a commercial-stage company focused on being the global leader in advancing surgical wound healing. The company's initial product is neoClose®, approved for sale in the US and Europe and designed to be the new standard for Laparoscopic surgery port site closure, a potential $400 million opportunity. The company's neoClose® system for port site closure used in Laparoscopic surgery has now been used more than 25,000 times in hospitals across the United States.

To learn more, visit www.neosurgical.com.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/neosurgical-raises-55m-in-series-b-funding-300469696.html

SOURCE neoSurgical



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