# Mainstay Medical Holdings

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mainstay-medical-holdings

- Industry: Medical Devices & Equipment
- Headquarters: Dublin, Ireland
- Website: www.mainstay-medical.com
- Total disclosed funding: $26M
- Latest round: Series B (Sep 26, 2012)
- Investors on record: 7

## About

Based in Dublin, Ireland, and founded in 2008, Mainstay Medical Holdings Plc formerly known as  Mainstay Medical International operates a medical device company that focuses on the development of an implantable neurostimulation system for the treatment of disabling chronic low back pain. The company completed its dual listing on the regulated market of Euronext in Paris and the Enterprise Securities Market of the Irish Stock Exchange in May 2014. Its ReActiv8 Implantable Neurostimulation System received its US Food and Drug Administration (FDA) approval to start a US clinical trial in 2015. 

Mainstay Medical Limited's ReActiv8 was approved by the US FDA in June 2020. The company secured EUR 108 million equity financing to drive global commercial expansion in January 2021. The company also has offices in the United States, Australia, Germany, and the Netherlands. In September 2021, the company received EUR 130 million in venture funding.

Mainstay Medical Limited’s researchers completed the development and clinical testing of ReActiv8, which is an FDA-approved rehabilitative neurostimulation therapy to treat mechanical low back pain. People who suffer from chronic lower back pain can use the Reactiv8 as a small attachment to stimulate the multifidus muscle, which is the stabilizer of the lower back.

Following its equity financing and strategic hires, the company will launch ReActiv8 in the US, continue its expansion in Europe and Australia, add post-market clinical studies and research, and expand its general operations.

## Funding rounds

- Series B, Sep 26, 2012, $20M — Capricorn Partners, Sofinnova Partners, Seventure Partners, Fountain Healthcare Partners, Medtronic, Twin Cities Angels
- Series A, Dec 21, 2011, $0.7M — Sofinnova Investments
- Series A, Jul 1, 2010, $6M — Sofinnova Partners, Twin Cities Angels

## Investors

- Sofinnova Partners (https://capitalatlas.ai/funds/sofinnova-partners) — Series A, Series B
- Twin Cities Angels — Series A, Series B
- Sofinnova Investments (https://capitalatlas.ai/funds/sofinnova-investments) — Series A
- Capricorn Partners (https://capitalatlas.ai/funds/capricorn-partners) — Series B
- Seventure Partners (https://capitalatlas.ai/funds/seventure-partners) — Series B
- Fountain Healthcare Partners (https://capitalatlas.ai/funds/fountain-healthcare-partners) — Series B
- Medtronic — Series B