🇸🇪 Almi Invest invests SEK 3 million in Xaga Surgical for global healthcare improvement
Almi Invest, Sweden’s most active investor in startups, invests SEK 3 million in the Swedish medical technology company Xaga Surgical. The company develops innovative medical needles to reduce the risk of infections and improve cancer diagnostics. The investment round, which amounts to a total of SEK 8 million, is being carried out together with Smile Inject Capital and private investors. The capital will be used to commence commercialization, secure FDA approval, and enable entry into the U.S. market.
Xaga Surgical, headquartered in Helsingborg, Sweden, was founded in 2016 by urologist Andreas Forsvall after two of his patients suffered sepsis following prostate biopsies. This experience led to the realization that existing needle designs posed a significant risk of bacterial transmission to sterile tissues. The company has developed a patented technology that has been shown to reduce bacterial transmission during biopsies by 96 percent (Source: *1), significantly reducing the risk of infections and improving the accuracy of cancer diagnostics.
“Our investment in Xaga Surgical is an example of how we support innovations that make a real difference. Through their groundbreaking technology, we can contribute to safer healthcare and strengthen Swedish competitiveness in a global market,” says Faten Mustafa, Investment Manager at Almi Invest.
“The global market for medical needles is facing major challenges. Over 50 million (Source: *2) people are at risk of health problems linked to needlestick infections annually, with an estimated cost of $80 billion (Source: *2). Our technology is designed to meet this need and create safer and more efficient healthcare solutions,” says Andreas Forsvall, founder and CEO of Xaga Surgical.
Smile Capital and private investors are participating in the investment round, who together with Almi Invest contribute capital and strategic expertise to enable Xaga Surgical’s vision of a globally better and safer healthcare.
About Xaga Surgical
Xaga Surgical is a Swedish medical technology company that develops innovative medical needles to reduce the risk of infections and improve cancer diagnostics. The company was founded in 2016 by urologist Andreas Forsvall and has developed a patented technology that reduces bacterial transmission during biopsies by 96 percent. Xaga Surgical works actively to improve patient care and safety during surgical procedures and is headquartered in Helsingborg, Sweden.
For further information, please contact:
Andreas Forsvall, founder and CEO, Xaga Surgical
+46 70 760 35 93, [email protected]
Faten Mustafa, Investment Manager, Almi Invest
+46 72 206 64 22, [email protected]
About Almi:
Almi Invest is Sweden’s most active investor in startups and has since its inception in 2009 invested in over 1,000 companies across Sweden. The company manages approximately SEK 3.5 billion via regional venture capital companies and a national venture capital company within GreenTech. Almi Invest contributes with committed ownership and a broad investor network to strengthen Sweden’s competitiveness and create an equal and sustainable business community. The company has invested in startups such as Tobii, Maven Wireless and Mips, and several of the best holdings have achieved billion-dollar success through IPOs or acquisitions of international tech giants such as Google, Microsoft and Apple. Almi Invest is part of the Almi Group and is partly financed by the EU’s structural funds.
Contact:
Joakim LiljebergAnna Wennerstein
Originally published on 23 January by Almi Invest.
Announcements are published as a service to readers. The sender is responsible for all content.
Announcements for publication can be submitted to [email protected].
