Back pain device group Mainstay Medical raises $108m
Funding will drive commercialisation of Reactiv8 in critical US market
Funding will drive commercialisation of Reactiv8 in critical US market
Group eyeing up to 10 investments, mostly in therapeutics and medical device sectors
Fundraising to push commercialisation and advance entry to US market oversubscirbed
Key players in Dublin-based start-up were involved in successful Inflazome venture
Company developing medicines for chronic inflammatory diseases such as Alzheimer’s
Group beats €100m target and intends to invest the bulk of the fund in Europe and US
Inflazome in one of the largest European biotech fundraisings this year as it targets range of serious inflammatory diseases
Inflazome has drug ready to enter human clinical trials
A trial of 47 patients showed after three months, 63 per cent reported clinically important improvement in back pain
Elan offshoot has now secured €103m for venture capital fund
Group targeting European investments in specialty pharma, biotech, medical devices and diagnostics
Proceeds will fund clinical trials of back pain device as shares float at lower end of guided range
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