Galway Startup Snags €9.3m Funding

28 May 2018 | 09.18 am

Galway Startup Snags €9.3m Funding

28 May 2018 | 09.18 am

Neurent Medical, which specialises in the treatment of rhinitis, has announced that it has raised €9.3m in a Series A financing round.

The lead investor is Fountain Healthcare Partners. Also investing are Atlantic Bridge Capital, the Western Development Commission, Enterprise Ireland, and what the company describes as a ‘syndicate of Irish and US medical device veterans’.

Based in Oranmore, Co. Galway, Neurent Medical is developing a novel therapy that will offer allergic and non-allergic rhinitis patients a minimally invasive treatment to alleviate the two primary symptoms of rhinitis, rhinorrhoea and nasal obstruction.

Neurent Medical envisages that its therapy will enable ENT surgeons to treat rhinitis patients in an ENT office setting using only local anaesthesia.

The company, founded in 2015, will use the venture capital to hire 25 staff across senior management and technical roles. The funding will also be used to advance product development, carry out clinical trials and prepare for US commercialisation of the device;

 

Photo: Neurent Medical founders David Townley (left) and CEO Brian Shields. (Pix: Michael Dillon)

 

 

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