Sunday January 19, 2020

Medtech firm Mainstay gathers €25m war chest to chase FDA

The cash call is double the figure it had set itself earlier this year as it begins a push for US drug regulators to sign off on its back pain treatment next year

Ian Guider

Markets Editor

@ianguider
4th August, 2019

Medical device maker Mainstay has raised almost €17 million in cash from investors as it attempts to secure approval for its chronic back pain treatment.

The cash call is double the figure it had set itself earlier this year as it begins a push for US drug regulators to sign off on its treatment next year. The fundraising will also allow it to draw down a further €3 million loan.

The money is being provided...

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