Mainstay Medical announces US$ 108 million equity financing transaction
Funding to support U.S. commercial launch and global expansion
Dublin, Ireland: 16 February 2021 – Mainstay Medical Holdings plc today announced the closing of an equity financing in which it raised gross proceeds of US$ 108 million. Mainstay intends to use the funds to support the company’s commercial launch of ReActiv8® in the U.S., continued expansion in Europe and Australia, additional post-market clinical studies and research, and general operations.
The financing was co-led by new investors Ally Bridge Group and Sofinnova Partners, through its Crossover Fund, and also included a large, global medical device company. Key existing investors who participated in the financing include Sofinnova Partners (Capital Fund), KCK Group and Fountain Healthcare Partners.
More information on Mainstay’s website.