Home Radiation Egg Medical, Inc. closes $13 million financing

Egg Medical, Inc. closes $13 million financing

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ARDEN HILLS, Minn., March 3, 2022 /PRNewswire/ — Egg Medical, Inc., a medical device company commercializing technologies to reduce scatter radiation exposure during interventional angiography procedures, today announced the completion of a $13 million funding round. The round was led by TVM Capital Life Science, a transatlantic venture capital firm that invests in life science innovation. Proceeds from this financing will be used to accelerate the commercialization of Egg Medical’s scattered radiation protection platform, the EggNest™. The EggNest™ protects personnel in hospital radiology labs (cardiac catheterization, electrophysiology, interventional radiology and operating rooms) from exposure to X-rays. The product will also be used to develop future platforms that will expand product offerings. ‘Egg Medical and will further address the unmet needs of healthcare professionals at risk of radiation-related illness due to long-term exposure to scattered radiation.

“Occupational exposure of hospital staff to X-rays during medical procedures is a significant risk in the workplace. Almost everyone in the cardiology and interventional radiology profession knows someone with radiation-related illness. There have been minimal improvements in X-ray protection over the past 30 years, leaving medical teams working in these environments exposed to scattered radiation on a daily basis,” said Robert F. Wilson MD, CEO of Egg Medical. “The EggNest™ platform solves the problem of hospital staff radiation exposure for everyone who works in these environments by reducing scattered radiation exposure by more than 90 percent.”

Joining Egg Medical’s Board of Directors will be Dr Luc Marengère, Managing Partner and Dr. Sasha BergerGeneral Partner, for TVM Capital Life Science, both of whom bring experience in building successful entrepreneurial ventures within life science start-ups.

Dr. Luc Marengère said, “TVM Capital Life Science believes Egg Medical has a unique opportunity and approach to address a significant unmet need to protect healthcare workers from the harmful consequences of scattered radiation. It has the potential to transform the way procedures are performed by making staff safety a priority.” Dr. Sasha Berger added that “Egg Medical aligns with our investment philosophy of actively seeking investment in late-stage, innovative health science companies with an experienced and proven management team.”

About Scattered Radiation

Scattered radiation is a form of secondary radiation created when the primary X-ray beam used to visualize the patient’s anatomy during interventional fluoroscopy procedures is reflected off the patient’s body in the procedure room. Physicians and staff who work in these environments are exposed to scattered radiation during medical procedures (such as angioplasty, stenting, and transcatheter valve therapy), which puts them at increased risk for long-term effects. health term. A growing body of published data shows a link between this occupational radiation exposure and cancer, cataracts, hypertension and neurodegenerative problems, despite the use of standard X-ray shielding.

About the EggNest™ XR

The EggNest™ XR is a complete scatter radiation shielding system fully integrated into the modern industrial workflow. Catheterization laboratory. The system is built on a new carbon fiber platform with integrated radiation shielding that replaces the patient’s mattress on the x-ray table. It protects the entire medical team, regardless of their location, significantly reducing exposure to scattered radiation. Company testing, backed by independent hospital studies, has shown that the EggNest™ system reduces stray radiation into the room by over 91%.

About TVM Capital Life Science

TVM Capital Life Science is a transatlantic venture capital pioneer with teams based in North America and Europe. For more than 35 years, TVM Capital Life Science has provided entrepreneurs and biopharmaceutical and MedTech companies seeking innovation with access to venture capital, currently investing from its TVM Life Science Innovation Fund II with a volume of $480 million. The TVM Capital Life Science team looks back on over 130 investments and over 90 exits, including over 45 initial public offerings on all major US and European exchanges.

SOURCE Medical Egg