ARDEN HILLS, Minn., — Egg Medical, Inc., a medical device company commercializing technologies to reduce scatter radiation exposure during interventional angiographic procedures, today announced the closing of a $13 million financing round. The round was led by TVM Capital Life Science, a transatlantic venture capital firm investing in life science innovation. The proceeds from this financing will be used to accelerate commercialization of Egg Medical’s scatter radiation protection platform, the EggNest™. The EggNest™ protects staff in hospital x-ray labs (cardiac catheterization, electrophysiology, interventional radiology, and operating rooms) from x-ray exposure. Proceeds will also be used to develop future platforms that will expand Egg Medical’s offerings and further address unmet needs for healthcare professionals at risk of radiation-related illness due to long-term exposure to scatter radiation.
“Occupational exposure of hospital staff to x-rays during medical procedures is an important workplace risk. Almost everyone in the interventional cardiology and radiology profession knows someone with a radiation related illness. There have been minimal improvements in x-ray shielding over the past 30 years, leaving the medical teams working in these environments exposed to scatter radiation every day,” said Robert F. Wilson MD, Egg Medical CEO. “The EggNest™ platform addresses the problem of hospital personnel radiation exposure for everyone working in these environments by reducing the exposure to scatter radiation by over 90%.”
Joining the Egg Medical Board of Directors will be Dr. Luc Marengère, Managing Partner and Dr. Sascha Berger, General Partner, for TVM Capital Life Science, who both bring a track record of building successful entrepreneurial companies within life science start-ups.
Dr. Luc Marengère stated, “TVM Capital Life Science believes Egg Medical has a unique opportunity and approach to address a significant unmet need in protecting healthcare workers from the damaging consequences of scatter radiation. It has the potential to transform how procedures are performed by making staff safety a priority.” Dr. Sascha Berger added that “Egg Medical fits our investment philosophy of actively seeking investments in innovative later-stage health science companies, with an experienced and proven management team.”
