Neurent Medical Secures €9 Million for U.S. Expansion

n a significant boost to its expansion efforts, Neurent Medical, a Galway-based medtech innovator, has secured €9 million in growth capital from Claret Capital. This investment is part of a larger €18.2 million funding round finalized in September 2024, aimed at accelerating Neurent's presence in the U.S. market.

Founded in 2018, Neurent Medical specializes in developing non-surgical treatments for chronic inflammatory sino-nasal diseases. Their flagship product, the NEUROMARK® System, is a minimally invasive device designed to alleviate symptoms of chronic rhinitis by targeting and disrupting hyperactive autonomic nerves that cause nasal inflammation. This approach offers patients a safer and more comfortable alternative to traditional surgical procedures.​

The recent funding from Claret Capital, a venture debt firm supported by the Ireland Strategic Investment Fund (Isif) and AIB, marks their inaugural partnership with Neurent Medical. David Bateman, Claret's managing partner, expressed optimism about the collaboration, stating, "We expect to do a follow-on into Neurent—we've done €3 million, and there's €6 million to come." ​

To date, Neurent Medical has amassed approximately €50 million in total funding, underscoring its status as one of Ireland's most promising medtech enterprises. The infusion of capital will not only support the company's U.S. expansion but also enhance its product development and marketing strategies, bringing innovative solutions to patients suffering from chronic rhinitis.​

Brian Shields, CEO and co-founder of Neurent Medical, remarked, "This investment enables us to transition to an international commercial-stage company." With the global prevalence of chronic rhinitis affecting millions, Neurent's advancements offer a beacon of hope for improved patient care and quality of life.