Helsingborg-based Xaga Surgical, a Swedish medical technology company, has completed a SEK 8M (approximately €698K) investment round.
Almi Invest contributed SEK 3M (approximately €261K), with additional funding from Smile Inject Capital and private investors.
Thomas Unt, CEO of SmiLe Inject Capital, says, “Our investment in Xaga Surgical is part of our commitment to supporting life science companies in commercialising their innovations to contribute to global health.”
“Xaga Surgical has an exceptionally skilled team and a unique innovation that has garnered significant attention, promising to enhance the safety of cancer diagnostics.”
Xaga is part of SmiLe’s incubator programme.
Capital utilisation
Xaga Surgical specialises in developing advanced medical needles designed to minimise infection risks and improve cancer diagnostics.
Andreas Forsvall, founder and CEO of Xaga Surgical, says, “The global market for medical needles faces significant challenges, with over 50 million people annually at risk of health issues related to needle infections, costing an estimated $80B.”
“Our technology is designed to address this need and create safer and more efficient healthcare solutions.”
The funds will support the company’s efforts to commence commercialisation, secure FDA approval, and enter the US market.
“Reinventing the medical needle”
Founded in 2016, Xaga Surgical develops innovative medical needles to enhance patient safety and cancer diagnostics.
The journey of Xaga began in 2014 when Forsvall encountered two cases of sepsis following prostate biopsies. Realising the risks posed by existing needle designs and the lack of alternatives, he embarked on a mission to create safer solutions.
After rigorous testing and refinement, Xaga developed patented technology that reduces bacterial transfer during biopsies by 96 per cent, enhancing infection prevention and cancer diagnostic precision.
The company’s patented technology reduces bacterial transmission during biopsies by 96 per cent, significantly lowering infection risks and improving diagnostic precision.
The company now also addresses hospital-acquired infections with innovative fluid and port needles, aiming to transform healthcare safety and efficiency.
SmiLe Inject Capital and Venture Hub
SmiLe Inject Capital claims to be Sweden’s only angel investment company focused on early-stage life science companies, providing private investors access to SmiLe’s expertise, networks, and insights. The funding is supported by business angels and Saminvest.
SmiLe is a non-profit venture hub in Lund, Sweden, supporting life science startups from concept to commercialisation through incubation programmes, educational courses, and lab facilities.
Its incubator programme has supported over 110 startups, raising over €1.03B in venture capital and achieving 21 IPOs. The firm is supported by Region Skåne, Lund Municipality, Lund University, Medicon Village, and industry partners.
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