EU Selects Tada Medical To Boost Investment Into The Healthcare Sector

We are very pleased to announce that Tada Medical has recently raised an investment in the form of a €700,000 convertible loan from the European Innovation Council Fund (EIC Fund), the European Commission’s venture capital mega-fund. The total investment approved by the EIC Fund amounts to €1.5 million and will be disbursed in two tranches. One is a €700,000 convertible loan and the other is an €800,000 equity subscription to be disbursed upon maturity of the convertible loan. Since its launch in 2020, the EIC Fund has approved 111 investments in highly innovative start-ups and SMEs and their confidence in Tada confirms the company’s considerable value creation potential and the maturity of the technology. The achievement highlights in true sense the determination of Tada’s female founders and the excellence of the team.

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Tada Medical is a medical device company specialising in need-driven healthcare innovations, founded in 2016 by a team from the EU-funded Clinical Innovation Fellowship programme. Their business idea is anchored on the disruptive approach of making IV therapy safer by preventing the IV catheter from being ripped out of the patient’s vein. Their innovative solution addresses mechanical complications such as phlebitis, infiltration, and accidental dislodgement of the IV lines. The opportunity arises from the enormous global scale of IV therapy and the devastating consequences of IV catheter failure. Their product, ReLink, is a breakaway connector will change the landscape of IV therapy. ReLink eliminates the devastating consequences of a ripped-out catheters, preventing patient injury and medical staff exposure to hazardous drugs, and shortening the time it takes for nurses to restart the line. ReLink is a new platform technology that lays the foundation for an entire family of products serving both human and veterinary care.

“We are very proud to announce the EIC Fund is supporting Tada Medical, and its disruptive technology ReLink, aimed at decreasing medical errors and improving patient care by eliminating the consequences resulting from IV dislodgement, to scale up. This Investment will provide Tada Medical the resources to bring its technology close to the market while it addresses the four goals of the European Union’s 2030 Agenda for Sustainable Development”. Added José Fernando Figueiredo, member of the Investment Committee of the EIC Fund.

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This investment will help them in scaling up production and accelerating the way to market. Tada Medical has come a long way, receiving patents in several countries and a CE mark on its first-generation breakaway connector, ReLink Care. The company’s Quality Management System is ISO 13485 certified and new developments will open many doors in the global market. Their commercialisation plan is to expand and sign licencing agreements with key players in the IV therapy market. Tada Medical has embarked on an amazing journey, a journey that not only solves unmet clinical needs but also spurs growth and improvement. A journey of striving for excellence and creating evidence for commercialization. The team is proud of their ground-breaking innovation and humbly thank the network and friends they have met along this journey who are part of their success.

“When the problem is that something breaks, the standard solution is to make it stronger. We did the opposite, we made it weaker. We solve a huge global problem, with our breakaway connector ReLink that, despite its simplicity, has the ability to save lives.”  Katarina Hedbeck, CEO.

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