Injeq Oy (Ltd), a Finland-based MedTech company, has attracted more than €1.1 million from over 450 investors through its equity crowdfunding campaign on Invesdor . The company, which launched the initiative last month, sought to raise €825,000 to bring its smart Injeq IQ-Needle to the European medical device market.
As previously reported, the tissue identification functionality of Injeq IQ-Needle is described as introducing a new standard level for both security and success, because it immediately alerts as the needle tip reaches its target; the spinal fluid. Injeq Oy stated that the smart needle products have been used in clinical patient trials and the positive performance has been reported in the Journal of Clinical Monitoring and Computing. A lumbar puncture study with pediatric patients started in 2016 and is today proceeding at two university hospitals in Tampere and Turku. Kai Kronström, CEO of Injeq Oy, shared:
“Many of our previous owners are physicians or dentists by profession which to us has always enforced that we are solving a real and worthwhile problem. Solving this problem also establishes a base for business and we are happy to now offer a larger crowd an opportunity to join us in the next phase of bringing the smart needle to everyday healthcare.We are now in a situation where the design has been completed and we are ready to start production very quickly and make a first market entry in children’s hospitals. We have a unique product fulfilling an unmet clinical need.”
The new funding will allow the company to keep pace and to expand clinical studies to leading hospitals in Sweden, Norway, and Denmark during the fall of 2017. Commercial deliveries are expected to take place during the first half of 2018. The Invesdor campaign is set to close on July 4th.
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