Neurent Medical, cofounded in 2016 by BioInnovate fellows Brian Shields and David Townley, announced in June 2018 that the company has raised €9.3m in its Series A funding round to develop a technology that allows doctors to treat the nasal condition rhinitis in-office as opposed to surgical intervention.
The funding round was led by Fountain Healthcare Partners and included Atlantic Bridge Capital, the Western Development Commission, Enterprise Ireland and also included a syndicate of Irish medtech veterans. This followed initial Enterprise Ireland seed funding which was utilised over the previous two years.
The investment will enable the company to hire 25 people as well as push ahead with its plans to achieve pivotal approval from the Food and Drug Administration to sell its product in the US.
- Established: 2015
- Funding: €9.85 million
- Status: Towards Commercialisation