Palliare has closed an oversubscribed $8 million Series A funding round led by leading European Life Sciences Venture Capital firm Seroba Life Sciences, with participation from Luxembourg-based SCM AD Ventures, Western Development Commission, and several private investors.
The funds will be used to support US commercial launch activities related to Palliare’s EVA15 insufflator and smoke evacuation system, as well as new Research & Development activities.
Gillian Buckley, Investment Manager with the Western Development Commission, and current Chair of the Irish Venture Capital Association, says: “We are delighted to continue our investment journey with Palliare, building on the world renowned MedTech sector that exists in the West of Ireland, creating very high value-add jobs and offering better technology solutions to clinicians.”
In further news, the company is pleased to announce the appointment of Julie Tupen as US Vice President of Sales. Julie brings extensive commercial experience to the management team from having previously worked with such companies as Covidien, Invuity, and most recently Hologic.
