SmiLe Inject Capital invests 3 million SEK in Xaga Surgical
The Forsvall Biopsy System
Lund, Sweden – Medical technology company Xaga Surgical raises a total of 8 million SEK in an investment round, with SmiLe Inject Capital contributing 3 million SEK. Xaga Surgical develops innovative medical needles to reduce the risk of infections and improve cancer diagnostics. The investment round also includes participation from Almi Invest and private investors.
The capital will be used to commence commercialization, secure FDA approval, and facilitate entry into the U.S. market.
Founded in 2016 by urologist Andreas Forsvall in Helsingborg, Xaga Surgical was inspired by two of his patients who developed sepsis following prostate biopsies. This experience led to the realization that existing needle designs posed a significant risk of bacterial transfer to sterile tissues. The company has developed a patented technology that reduces bacterial transmission during biopsies by 96%, significantly lowering infection risks and enhancing precision in cancer diagnostics.
"Our investment in Xaga Surgical is part of our commitment to supporting life science companies in commercializing their innovations to contribute to global health," said Thomas Unt, CEO of SmiLe Inject Capital. "Xaga Surgical has an exceptionally skilled team and a unique innovation that has garnered significant attention, promising to enhance the safety of cancer diagnostics."
"The global market for medical needles faces significant challenges, with over 50 million people annually at risk of health issues related to needle infections, costing an estimated 80 billion USD," noted Andreas Forsvall, Founder and CEO of Xaga Surgical. "Our technology is designed to address this need and create safer and more efficient healthcare solutions."
Xaga Surgical is part of SmiLe's incubator program.
For more information, please contact:
Andreas Forsvall, Founder and CEO, Xaga Surgical +46 70 760 35 93, andreasforsvall@xagasurgical.com
or
Thomas Unt, CEO of SmiLe Inject Capital +46 (0)708 201070, thomas.unt@smileventurehub.com
About Xaga Surgical:
Xaga Surgical is a Swedish medical technology company developing innovative medical needles to reduce infection risks and improve cancer diagnostics. Founded in 2016 by urologist Andreas Forsvall, the company has developed patented technology reducing bacterial transmission during biopsies by 96%. Xaga Surgical actively works to enhance patient care and surgical safety, headquartered in Helsingborg. www.xagasurgical.com
About SmiLe Inject Capital:
SmiLe Inject Capital is Sweden's only angel investment company focusing on promising early-stage life science companies. Through SmiLe Inject Capital, private investors gain access to SmiLe's extensive life science expertise, international networks, and unique insights into early-stage life science companies. The funding is supported by experienced business angels along with the state-owned venture capital company Saminvest. www.smileventurehub.com/inject/
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SmiLe is a leading venture hub that specializes in advancing life science startups from concept to commercialization. We offer comprehensive support through every stage of entrepreneurship, including tailored incubation and acceleration programs, a variety of educational courses, and access to top-tier lab facilities. To date, our flagship incubator program has supported over 110 startups, facilitating their collective acquisition of more than EUR 1.03 billion in venture capital and contributing to 21 successful IPOs. Recognized as one of Europe’s leading startup hubs in 2024 by the Financial Times and Statista, SmiLe continues to be a catalyst for innovation in the life sciences sector. As a non-profit entity based in Lund, Sweden, SmiLe is supported by Region Skåne, Lund Municipality, Lund University, and Medicon Village. We are also backed by our partners Agilent, Sparbanken Skåne, Høiberg, Setterwalls, Zacco, Key2Compliance, Phase Holographic Imaging, ChemoMetec, Samplix, Qiagen, Merck, Bio-Rad, and AbbVie Scandinavia. For more information: www.smileventurehub.com