Neurent Medical, the pioneering Irish MedTech company at the forefront of treatments for chronic inflammatory sino-nasal diseases, has secured funding from the Claret European Growth Capital Fund III (CEGCF III).
Headquartered in Galway, Ireland, Neurent Medical develops innovative non-surgical treatments for chronic inflammatory sino-nasal diseases. By targeting and safely disrupting the hyperactive autonomic nerves that drive underlying inflammation, their revolutionary treatment provides effective relief to patients. Neurent has its US office in Boston, MA.
This latest funding from the CEGCF III will be used to invest in sales & marketing, product development and to support further US expansion.
Approximately one in four Americans suffer from chronic rhinitis, a common condition that results in persistent symptoms including congestion, rhinorrhea, sneezing and nasal itching. Chronic rhinitis significantly decreases quality of life and can have an adverse effect on sleep quality, mood, and daily activities.
The traditional rhinitis patient journey is often full of frustration due to limited treatment options. The NEUROMARK® System is a groundbreaking, minimally invasive treatment option designed to target the underlying drivers of chronic rhinitis. The NEUROMARK ® System enables the physician to simultaneously treat multiple nerve branches with a high degree of precision, safety, and patient comfort.
Daniel Mallon, Principal at Claret Capital Partners comments:
“Neurent Medical is addressing a critical gap in healthcare, and we are hugely excited to be supporting the team as they continue to fulfil their mission to transform the treatment and standard of care in chronic rhinitis.”
Joey Mason, Venture Partner at Claret Capital Partners said:
“The company is poised to establish the NEUROMARK ® System as the standard of care for the millions of people suffering from chronic rhinitis. We are delighted to be joining the strong syndicate of existing investors and to supporting the company’s excellent management team.”
Neurent Medical CEO and Co-Founder Brian Shields said:
“Neurent Medical welcomes Claret Capital Partners to our investment syndicate. Their success in investing in high growth companies brings valuable experience to the Neurent Medical team and will serve us well on the next phase of our journey.”
Claret has a long track record of investing in the Medical Device sector – previous investments include Cardiac Dimensions, Endomag, and Spineguard.
Both AIB (Allied Irish Bank), and ISIF (The Ireland Strategic Investment Fund), are Limited Partners in the CEGCF III.
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About Neurent Medical
Neurent Medical is pioneering innovative treatments for chronic inflammatory sinonasal diseases by targeting and safely disrupting hyperactive autonomic nerves that drive underlying inflammation. Its proprietary NEUROMARK® technology with a unique design and advanced smart algorithmic control, allows physicians to precisely target and safely disrupt multiple underlying nerve branches in a single procedure to alleviate chronic rhinitis symptoms and improve patient quality of life. The venture capital-backed company is headquartered in Galway, Ireland, with US HQ in Braintree, MA. For more information visit www.neurentmedical.com.
About Claret Capital Partners
Claret Capital Partners is Europe’s largest independent growth debt fund manager. Since 2013, the Claret funds have backed over 175 SMEs from a wide range of geographies across Europe. The team have been active in the technology financing markets for over 20 years and provide innovative debt solutions to help entrepreneurs and private equity investors grow their companies while minimising dilution.
For more information visit www.claret-capital.com
Claret Capital Partners Limited (company registered number 12516001) is authorised and regulated by the Financial Conduct Authority (FRN 993228).