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LSP leads €21m round into Neurent Medical

Irish life sciences company Neurent Medical has closed a €21m Series B investment co-led by LSP as well as Atlantic Bridge with participation of Fountain Healthcare Partners.

Galway-based medical device company Neurent Medical, which is focussed on chronic inflammatory diseases of the sinuses and nasal passages said it will use the preceeds from LSP Health Economics Fund 2, Atlantic Bridge Growth Fund IV. and Fountain Healthcare Partners to bring its Rhinitis Neurolysis Therapy to patients.
 
Chronic rhinitis results in persistent symptoms including congestion, rhinorrhea, sneezing and nasal itching. Neurent Medical’s NEUROMARK™ Rhinitis Neurolysis Therapy for chronic rhinitis is designed to disrupt hyperactive parasympathetic nerves that drive the underlying inflammation. The system is engineered to gently apply controlled low-power Radio Frequency (RF) energy to target regions of the nasal cavity to disrupt the parasympathetic nerve signals and halt the inflammatory response, thereby eliminating core symptoms such as congestion and rhinorrhea. Using proprietary algorithms and biofeedback monitoring features, the intelligent system precisely delivers energy to the target nerve-dense region while restricting energy and minimizing damage to surrounding tissue.
 
As part of the financing,Drew Burdon (LSP) and Gerry Maguire (Atlantic Bridge) will join the Board of Directors.