Xaga Surgical funding news – Helsingborg-based Xaga Surgical Secures €698k in Funding

Andreas Forsvall, Founder and CEO of Xaga Surgical said, “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 80 billion USD, Our technology is designed to address this need and create safer and more efficient healthcare solutions.”

Dr. Forsvall realized that the current needle design was a major risk for transferring bacteria into sterile tissue. There were no alternative designs or solutions in the research available.

He created prototypes, and after thorough testing and studies, the technology was proven effective. This paved the way for Xaga Surgical to improve both infection prevention and cancer diagnosis.

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The company developed a patented technology that reduces bacterial transmission during biopsies by 96%, lowering infection risks and improving cancer diagnostic accuracy. Xaga Surgical aims to help tackle the 3.4 million hospital-acquired infections caused by needles each year.

According to Xaga Surgical, “Annually, over 50 million individuals are needlessly exposed to health risks during needle punctures. Needle induced infections and suboptimal cancer diagnostis are incurring an estimated annual healthcare and public cost of $80 billion. We firmly believe that the crux of this issue lies in needle design, and our technology stands as a rational solution. Remarkably, to our knowledge, Xaga Surgical stands as the sole entity globally dedicated to addressing this pressing concern, underscoring the immense responsibility we bear for the future.”

The funding will help it commercialize its product, get FDA approval, and enter the U.S. market.

Thomas Unt, CEO of SmiLe Inject Capital said, “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.”

It is part of SmiLe's incubator program. SmiLe Inject Capital is Sweden’s only angel investment company that supports early-stage life science companies.

Private investors in SmiLe Inject Capital benefit from access to SmiLe’s life science expertise, global networks, and insights into early-stage companies. The funding is backed by experienced business angels and the state-owned venture capital company Saminvest.

About Xaga Surgical

Xaga Surgical’s goal is to reduce infection risks by creating safer medical needles. Their needles focus on preventing bacterial transmission into the body, which is especially important due to widespread antibiotic resistance, making new infection prevention methods urgently needed.