Mainstay Medical bids to raise €9m for key drug approval

Mainstay Medical is seeking to raise up to $10 million (€8.9 million) as the Dublin-based company prepares to submit an application to have its treatment for chronic back pain approved by US regulators.

The company said that raising the cash before the end of June is one of the conditions required for it to draw down a €3 million loan from its long-term debt provider IPF Partners. It said that the terms of ...