Galway based medtech startup Loci Orthopaedics is creating 20 new jobs with the opening of its new offices in the city.
Loci Orthopaedics Ltd, a clinical stage orthopaedic medical device company, has officialy opened of its new office in Ballybrit Business Park, Galway.
The opening was carried out by Hildegarde Naughton, TD, Government Chief Whip and Minister of State in the Department of Education.
The company is also pleased to announce the creation of 20 new jobs, ranging from recent graduates to senior executives in research and development, quality management and regulatory affairs, bringing its total team in Ireland to 32 employees.
Galway TD Hildegarde Naughton commented, “I’m delighted to attend the official opening of Loci Orthopaedics’ new office in Ballybrit Business Park and welcome the creation of 20 new high skilled jobs in our local community in Galway.”
“This is an important week for Loci Orthopaedics following the successful closing of a €12.8 million Series A financing round on Wednesday, investment which will drive the future growth of the business.”
“Through focused and sustained investment, the Government is committed to creating the right conditions for innovative companies such as Loci Orthopaedics to succeed.”
“In Galway we have a thriving ecosystem of medical technology start-ups, developing novel solutions for various unmet clinical needs, many of which have originated from the BioInnovate Ireland Fellowship programme.”
Loci Orthopaedic’s primary device, its patented InDx Implant System, is an innovative, evidence-based implant for thumb base joint arthritis.
Thumb base joint arthritis is a highly and increasingly prevalent condition, which is estimated to actively affect up to 5% of the US and EU population and 100 million people worldwide.
The InDx implant is designed to replicate the functional biomechanics of the thumb base joint, with the aim of restoring natural motion for those affected by this painful and disabling condition.
InDx’s novel design and biomechanics have the potential to address the limitations of current thumb implants which are often unsuccessful and are prone to both dislocation and movement post implantation.
Barry Russell, CEO, Loci Orthopaedics, added: “The opening of our new office and expansion of our team in Galway represents a significant milestone for Loci Orthopaedics and we are honoured Minister Naughton, TD is here to celebrate this event with us.”
“The recent successful €12.8 million Series A financing from leading international investors, the largest medical technology fundraising so far in Ireland in 2024 and the largest orthopaedic fundraising ever for an indigenous Irish med-tech startup company, strongly endorses the potential of our InDx Implant System.”
“We are excited to strengthen our team with 20 new high skilled jobs in Galway, as we expand our clinical programs and prepare regulatory submissions in the US and EU.”
