Neurent Medical, a Galway, Ireland based medical technology company focused on chronic inflammatory sinonasal diseases, has closed an oversubscribed €62.5 million ($74 million) Series C financing to accelerate the commercial expansion of its NEUROMARK System for chronic rhinitis, broaden clinical evidence generation, and advance its product and indication pipeline.
The round was led by MVM Partners, with significant participation from Sofinnova Partners, and included continued support from existing investors EQT Life Sciences, Atlantic Bridge, Fountain Healthcare Partners, and Enterprise Ireland. As part of the financing, Neurent added Kyle Dempsey, a Partner at MVM Partners, and Cedric Moreau, a Partner at Sofinnova Partners, to its board of directors.
Neurent is positioning NEUROMARK around the growing adoption of posterior nasal nerve ablation for chronic rhinitis, a condition characterized by persistent symptoms such as nasal congestion, rhinorrhea, sneezing, and postnasal drip that can materially affect quality of life. The company says its proprietary Impedance Controlled Radiofrequency technology targets overactive posterior nasal nerves that drive symptoms, with an approach designed to provide clinicians with real time feedback during procedures and deliver a differentiated and durable treatment option intended to address the underlying cause rather than only manage symptoms.
The company said the new capital will be used to scale commercial operations and expand patient access, while also supporting further evidence development across broader patient populations. Neurent also plans to use the financing to continue building out its pipeline and explore potential expansion of the platform into additional indications.
Neurent is headquartered in Galway and has U.S. operations in Braintree, Massachusetts.
KEY QUOTES
“I am delighted to welcome MVM Partners and Sofinnova Partners to the Neurent Medical team, two global leaders in medtech investing. This Series C financing will support our commercial expansion and help bring NEUROMARK to the patients and physicians who need it most.”
“Our mission since inception has been to meaningfully improve patients’ lives while empowering ENT physicians with predictable, minimally invasive care. In addition to expanding patient access, this investment will also enable further evidence generation across broader populations and support the continued development of our exciting pipeline offerings.”
Brian Shields, Chief Executive Officer, Neurent Medical
“Millions of patients suffer from chronic rhinitis, and posterior nasal nerve ablation represents a powerful tool to provide proven relief. In this rapidly emerging category, Neurent has set a new standard with a best-in-class solution, powered by a proprietary impedance control system that delivers real-time feedback, giving clinicians greater treatment confidence, control, and predictability during every procedure.”
Kyle Dempsey, Partner, MVM Partners
“Chronic rhinitis is a widespread and often overlooked condition affecting millions of patients with limited effective treatment options. Neurent Medical has developed a truly differentiated approach supported by a growing body of clinical evidence demonstrating meaningful and durable patient benefit,” added Cedric Moreau. We also see significant potential to expand this platform into additional indications, and we are confident in our partnership with Neurent Medical at this pivotal stage of commercial growth.”
Cedric Moreau, Partner, Sofinnova Partners
