Dublin-based medical devices company Mainstay Medical has raised an extra €30.1m in financing, via a share placing, to fund a continued push towards product commercialisation in the US.

Mainstay Medical — the Dublin-based medical devices firm — has raised a fresh €30m in funding via the placement of 2.3m new ordinary shares in the company.

Irish medical device company Mainstay Medical has identified Germany as the launch market, later this year, for its breakthrough treatment for chronic back pain.

Mainstay Medical, the Dublin healthcare firm on the verge of a breakthrough in chronic back pain treatment, is considering a further round of fundraising as it prepares its main product for market.

Dublin-based medical devices firm, Mainstay Medical has received a boost to its attempts to commercialise a breakthrough treatment for chronic back pain by securing $15m (€13m) in debt financing.