Fierce Biotech February 28, 2024
Fresh off earning an updated FDA clearance for its flagship neuromodulation device, Mainstay Medical has closed an equity financing round to help expand the device’s global presence.
The Irish company took in a total of $125 million from the round, which CEO Jason Hannon said in a release this week will go toward “continuing our rapid commercial growth and building on our insurance coverage” of the ReActiv8 implant in the U.S., Europe and Australia.
In addition, Hannon said in the announcement, the money will help support “the generation of additional clinical and health economic data to further demonstrate that ReActiv8’s purpose-built, restorative approach to the treatment of mechanical chronic low back pain is superior to competitive therapies originally designed for...
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