Neurent Medical secures €62.5m to expand chronic rhinitis treatment

Neurent Medical, an Irish medical technology company headquartered in Galway with US operations in Braintree, Massachusetts, has closed an oversubscribed Series C financing round raising €62.5 million ($74 million/£59 million) to drive commercial expansion of its NEUROMARK system for treating chronic rhinitis. The financing will support broader clinical evidence generation and advancement of the company's product and indication pipeline.

Morning Star reported that 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. Kyle Dempsey, partner at MVM Partners, and Cedric Moreau, partner at Sofinnova Partners, will join Neurent Medical's board of directors.

Brian Shields, chief executive of Neurent Medical, said: "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."

The NEUROMARK system uses proprietary impedance-controlled radiofrequency technology to target overactive posterior nasal nerves that drive chronic rhinitis symptoms, providing clinicians with a treatment option designed to address root causes rather than manage symptoms. Chronic rhinitis affects millions of people worldwide and is characterised by persistent nasal congestion, rhinorrhea, sneezing and postnasal drip that can significantly diminish quality of life.

Kyle Dempsey said: "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."

Read the complete announcement to see how the investment will support evidence generation and pipeline development.