Selio Medical targets US rollout with €5m Series A
Dublin MedTech company Selio Medical is preparing to scale its FDA-cleared lung biopsy technology in the US, using a biodegradable hydrogel designed to reduce the risk of pneumothorax during biopsy procedures.
Dublin-based MedTech company Selio Medical has launched a €5 million Series A fundraising round to support the commercial rollout of its lung biopsy technology in the United States.
The company has developed a biodegradable hydrogel sealant that is deployed before a lung biopsy to create a sealing plug and reduce the risk of air leaking from the lung during the procedure. Pneumothorax, or collapsed lung, is one of the most common complications associated with lung biopsy and can lead to additional treatment, hospitalisation and cost.
Selio Medical has already secured FDA clearance for its first product and says it is preparing for initial patient procedures later this year. The new funding round is intended to support commercial expansion in the US, where the company sees a significant addressable market for its technology.
For NWCAM2, the story is a useful example of the transition from medical-device development into regulatory clearance, clinical use and commercial scale-up. Technical innovation is only one part of that journey. Companies also need to establish repeatable manufacturing, quality systems, supply-chain readiness, regulatory evidence and the operational capability required to move from prototype or pilot production into larger markets.
The technology itself also illustrates the value of materials-led innovation in MedTech. A relatively simple intervention in the form of a biodegradable hydrogel can address a clinically significant complication, but turning that concept into a regulated medical device requires close integration of materials science, product engineering, usability, manufacturing and clinical validation.
For SMEs developing new healthcare technologies, Selio Medical’s progression provides a relevant reminder that product development and commercialisation need to be considered together. Access to specialist technical capability, testing infrastructure and collaborative R&D can help companies reduce development risk and strengthen the pathway from a promising concept towards a manufacturable and market-ready product.
Original article
ThinkBusiness — Selio Medical targets US expansion with €5m Series A
https://www.thinkbusiness.ie/articles/selio-medical-e5m-series-a-us-launch-lung-biopsy-device/
Supporting information
Business Plus — Selio Medical embarks on €5m Series A round