UCD spin-out will use the money to expand operations to the US in 2025 as it pursues regulatory approval and expands its team
spin-out LaNua Medical has raised €6 million in seed funding to develop new blood flow technology that could help doctors more safely treat internal bleeding and tumours.
The company is developing a way to modernise embolisation, a technique used by surgeons and radiologists to control the flow of blood in certain areas of the body. LaNua’s device, the Ecore, allows doctors to restrict blood flow in segments of veins or arteries while also allowing medical tools such as guide wires and catheters to pass through it.
“LaNua Medical exemplifies Ireland’s continued excellence and innovation in the medtech sector,” said Niall McEvoy, head of venture at Elkstone. “LaNua, led by an experienced founder team, has the potential to become another great success story, and we look forward to supporting the company on that journey.”
Chief executive Tom Fitzmaurice said the company had initially targeted €5 million but was oversubscribed. “It gives us a good runway to develop the product,” he said. “It allows us to do our design verification. Europe has been a challenge from a regulatory perspective over the last number of years; our more direct market is through the US.”
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