LaNua Medical
Overview
LaNua Medical is an innovative medtech startup based in Ireland, focused on developing medical devices that simplify and improve the treatment of various internal medical conditions. Founded in 2024 as a spin-out from University College Dublin (UCD), LaNua Medical has rapidly progressed in the medtech sector with a vision to revolutionize patient care through cutting-edge technology. The company was co-founded by Dr. Cormac Farrelly, Tom Fitzmaurice, Dr. Eoin O'Cearbhaill, and Dr. Sajjad Amiri. LaNua Medical has successfully raised €6 million in seed funding to support its groundbreaking projects.
Recent Developments
- December 2024: LaNua Medical secured €6 million in seed funding to advance their medical technology and expand into new markets. The funds will be used to boost product development and facilitate entry into the U.S. market. The funding round was co-led by Elkstone and Atlantic Bridge with contributions from Enterprise Ireland and Furthr VC. This financial backing will allow LaNua to hire additional resources and enhance their ECORE™ device.
- November 2024: The company was a prize winner at the Enterprise Ireland Big Ideas Competition, gaining recognition for its contributions to the field and plans to represent Ireland at the Pegasus Start-Up World Cup in San Francisco. This accolade underscores LaNua's innovation and potential within the medtech industry.
- 2024: LaNua Medical is actively engaging with international partners to bolster its clinical and market strategy to achieve regulatory approvals in the U.S. The firm plans to expand its operations to facilitate this expansion by 2025.
- Early 2024: LaNua developed the ECORE™ device, which aims to improve procedures such as embolization by enabling precise and safer intervention in treating vascular conditions, tumors, and beyond. The device will enhance targeted delivery in embolization procedures, reducing risks of human error during surgeries.
- LaNua Medical's focus is expected to increase international operations and collaborations with U.S. entities dedicated to advancing regulatory acceptance and marketability of the ECORE™ device.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2024 |
| Headquarters | Dublin, Ireland |
| Founders | Dr. Cormac Farrelly, Tom Fitzmaurice, Dr. Eoin O'Cearbhaill, Dr. Sajjad Amiri |
| Key Investors | Elkstone, Atlantic Bridge, Enterprise Ireland, Furthr VC |
| Industry | MedTech |
| Products/Services | ECORE™ device for embolization procedures |
Early History
LaNua Medical's origins trace back to 2024 when it spun out from the University College Dublin (UCD), leveraging the institution's robust network and research foundations. The company's formation was catalyzed by the collaborative efforts of its founders, who melded expertise in medicine and engineering to address unmet needs in interventional radiology. Dr. Cormac Farrelly, a consultant radiologist, alongside engineers from UCD’s School of Mechanical and Materials Engineering, set forth with a mission to innovate medical device technology with a particular focus on minimally invasive procedures. The company's early capital infusion enabled a swift mobilization of its initial product development, concentrating on safety and efficiency in treating complex conditions such as internal bleeding and tumor management.
Company Profile and Achievements
LaNua Medical operates at the intersection of medical technology and innovation, with a business model heavily centered on enhancing clinical outcomes through sophisticated device engineering. The company's flagship product, the ECORE™ device, represents a major leap in embolization technology. This non-invasive device assists doctors in controlling localized blood flow, thus minimizing risk during surgical interventions. Achievements:
- Development of ECORE™ Device: Pioneering advancement in embolization technology, enabling precise blood flow management while mitigating risk in interventional radiology.
- Winner of Enterprise Ireland's Big Ideas Competition (2024): Recognized for its scientific and commercial innovation, leading to an opportunity to represent Ireland globally at startup forums.
- Growing Financial Support: Secured €6 million in seed funding to accelerate product development and market entry.
- Strategic Partnerships: Actively pursuing collaborations with U.S.-based entities to expedite clinical trials and expand market penetration.
Current Operations and Market Position
LaNua Medical is currently engaging in strategic initiatives centered on product development, regulatory compliance, and international market penetration. The firm's competitive advantage lies in its innovative approach to medical device technology, with the ECORE™ device positioning itself as a transformative tool in embolization procedures. The global embolization market, valued at $2.2 billion, offers significant growth potential, aligning with LaNua’s expansion plans into the U.S. market. By leveraging advanced technology, the company aims to tackle increasing incidences of cancer and vascular diseases, thus gaining a stronghold in the medtech sector.
Conclusion
LaNua Medical epitomizes the vigor and innovation emblematic of Ireland's thriving medtech industry. Its commitment to revolutionizing interventional radiology not only promises strengthened clinical outcomes but also positions the company as a forerunner in minimally invasive therapeutic solutions. With a keen focus on enhancing patient care, supported by industry collaborations and robust financial backing, LaNua Medical is poised for pioneering market leadership and international expansion, heralding a new chapter in medical device efficacy and patient-focused care.