Neurent Medical raises $25 million in Series B round
Galway based, Neurent Medical has raised $25 million in a Series B round to advance its pioneering treatments for chronic inflammatory sino-nasal diseases.
Neurent Medical, a company pioneering innovative treatments for chronic inflammatory sino-nasal diseases, has raised $25 million (€20.6 million) in a Series B round. The funding round was led by new investor LSP, from its LSP HEF-2 fund, and co-led by Atlantic Bridge, investing from its Growth Fund IV. Fountain Healthcare Partners also participated as a returning investor with strong participation in the round.
The financing will support the expansion of the company’s clinical and commercial operations as it prepares for U.S. Food and Drug Administration (FDA) clearance and U.S. commercialization of its proprietary NEUROMARK™ Rhinitis Neurolysis Therapy™, an innovative in-office treatment for chronic rhinitis.
Neurent Medical has developed a device that precisely applies low power radio frequency energy to hyperactive nerves in the nose to halt the inflammatory response that leads to rhinitis, or chronic runny nose. The venture capital-backed company, headquartered in Galway, is targeting the two million patients of ear, nose and throat (ENT) specialists in the United States for whom drug therapy to manage the condition is not working.