The Kuopio-based medtech firm raised €2.5M funding to carry a breakthrough remedy nearer to sufferers affected by mind tumours.
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Kuopio, Finland-based Marginum, a medtech startup growing fluorescence-based tissue detection programs, has secured €2.5M in pre-series A funding.
The funding spherical was led by Nostetta Ventures, with continued help from present buyers Redstone and Almaral.
Based mostly out of Kuopio, Nostetta Ventures is a regional enterprise capital firm investing in early-stage progress firms. The staff consists of buyers with experience in enterprise and expertise and a hands-on perspective in growing the portfolio firms.
“Marginum is pioneering a expertise that would reshape most cancers surgical procedure worldwide. We’re investing not solely in a tool, however in a brand new method of serving to surgeons make higher selections via real-time knowledge. We consider it has the potential to enhance how most cancers is handled, and we’re proud to help a staff with such a significant mission”, says Noora Tuikka, CEO at Nostetta Ventures.
New members, together with Lynx Monetary, a healthcare-focused fund, and a gaggle of personal buyers with medical backgrounds, additionally participated within the spherical.
Moreover, Enterprise Finland offered vital help on the spherical.
Fund utilisation
The Finnish firm will use the funds to hunt FDA clearance for the HIVEN aspirate tissue monitoring gadget and quickly broaden into new European markets.
The capital can even help strategic hiring, worldwide enlargement and continued funding in analysis and growth.
“This funding is a crucial step towards bringing HIVEN® to surgeons and sufferers throughout Europe and the US. It allows us to pursue FDA clearance and broaden our attain to new areas the place exact most cancers surgical procedure instruments are urgently wanted. We’re responding to an unmet medical want and intention to make aspirate tissue monitoring a worldwide customary in oncological surgical procedure”, says Marginum CEO Samu Lehtonen MD.
Marginum: Growing fluorescence-based tissue detection programs
Led by Samu Lehtonen, Marginum is growing fluorescence-based tissue detection programs.
The corporate’s HIVEN gadget assists surgeons in detecting fluorescent tumour cells throughout surgical procedure.
The gadget is connected to a surgical suction tube and offers near-instant auditory suggestions when tumour cells are discovered within the eliminated tissue.
A particular fluorescent dye is used to spotlight the cancerous cells.
Not like conventional strategies, HIVEN allows the detection of fluorescence whereas customary surgical theatre lighting is used, which goals to assist surgeons to take away tumours extra fully and safely.
Utilisation past mind tumours
Based on the corporate’s claims, the system has already been examined in medical use at Oslo, Tampere and Kuopio College Hospitals and has proven promising outcomes.
The tissue recognition methodology is predicated on the findings of the College of Jap Finland’s analysis group led by docent Antti-Pekka Elomaa, a guide neurosurgeon.
Furthermore, the Finnish firm estimates that the tactic may very well be used sooner or later not just for mind tumours, but in addition for ovarian, bladder and liver most cancers.
The corporate expects the HIVEN gadget to obtain EU advertising authorisation within the fall of 2025.
HIVEN gadget gross sales can be launched within the Nordic nations with a distribution associate to realize million-euro gross sales within the coming years.
