Follow the Money to Medical Devices & Diagnostics
Spotlight on Mainstay Medical International plc.
Follow the Money to Medical Device & Diagnostic Opportunities highlights a newly funded medical device or diagnostic company. This includes important insights into the featured company’s product pipeline, manufacturing and business relationships, and likely sourcing opportunities.
Mainstay Medical International is a public company based in Ireland that develops innovative therapies for patients with chronic low back pain. It has raised $33.9 million in a completion of a secondary public offering as reported in the PharmSource Lead Sheet on June 23, 2016.
- Mainstay Medical International was founded in 2008 in Minnesota, USA.
- Corporate Headquarters: Dublin, Ireland
- As of December 31, 2015, they had 23 employees.
- Stock Exchange: EURONEXT
- Stock Symbol: MSTY
- Mainstay Medical International plans to use the proceeds to support European commercialization efforts and US clinical trials of its ReActiv8 technology. This implantable neurostimulation device treats chronic low back pain by acting on the nerves that control the stabilizing muscles of the lower spine:
Development Phase: Approved/Cleared
Medical Specialty: Neurological/CNS
Purpose: Device – Therapeutic/Interventional
Type: Implant – Other, Electrode/Stimulator
US – PMA planned
EU – CE Mark approval
US – IDE approval
Classification: EU Class III
- October 2016: $15 million in a completed private debt placement
- January 2015: $25 million in a completed IPO
- April 2014: Mainstay Medical International files an IPO
- April 2014: $500,000 in a completed venture capital investment
- November 2012: $20 million in a completed venture capital investment
Medical Device & Diagnostics Pipeline1
|Product Candidate||Indication||Medical Specialty||Purpose||Type|
|ReActiv8||Chronic Low Back Pain||Neurological/CNS||Device-Therapeutic/
Regulatory Approvals and Clearances
|Product Candidate||Region||Approval/Clearance||Year of Approval or Clearance|
|ReActiv8||Europe||CE Mark approval||2016|
1Source: PharmSource Lead Sheet
|Mainstay Medical International plc||Key Officers|
|Clonmel House, Forster Way||Peter Crosby, President & CEO|
|Swords, County Dublin, K67F2K3 Ireland||Hugh Kavanagh, CFO|
|Phone: + 353 1 897 0270||Jan Pieter Heemels, VP, Commercial Operations|
|Web: www.mainstay-medical.com||Diane Burnside, VP, Clinical Affairs|
Follow the Money to Medical Device & Diagnostic Opportunities – Spotlight on EndoStim, Inc.
Follow the Money to Medical Device & Diagnostic Opportunities – Spotlight on Organogenesis, Inc.
Follow the Money: ArQule, Inc.