A Galway-based clinical-stage orthopaedic medical device company has secured €12.8 million in funding.

Loci Orthopaedics Ltd's Series A round was led by new investors, including Seroba, Johnson & Johnson Innovation, and the European Innovation Council Fund.

The company focuses on developing innovative technologies to address significant unmet clinical needs in orthopaedic extremities.

Its primary product, the InDx Implant System, is designed to treat joint arthritis in the thumb.

The funds will be utilised to expand the company’s clinical programs, submit regulatory approval applications in the US and EU, and expedite efforts towards future commercialisation.

The company asserts that this fundraising is the largest in Ireland's MedTech sector this year.

Additionally, they claim it is the biggest orthopaedic fundraising ever for a homegrown tech startup.

Read more about Loci Orthopaedics here.