Monday, May 27, 2024

Irish company secures funding for vertigo treatment

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Irish MedTech company Vertigenius has raised more than €2.1m in funding for the development of technology for the treatment of vertigo.

The company has produced a wearable head sensor and software that allows therapists to prescribe and track exercises carried out by patients, monitor patient symptoms and therefore gain insights into the effectiveness of treatments.

The technology helps patients to carry out at-home rehabilitation exercises correctly.

The funding will lead to the creation of 10 new jobs and will help the team to continue product development and expand into the UK and US markets.

The company’s software is currently being used by clinics and more than 1,000 patients in Ireland. It plans to enter the UK market in the middle of 2024 and the US market early next year.

“Worldwide, patients who have been diagnosed with vertigo can face months-long waiting lists or an inability to get access to treatment at all,” said Mark Barry, CEO, Vertigenius.

“Our mission is to enable early access to high quality care for vertigo patients, which will improve the lives of millions of people,” Mr Barry said.

Atlantic Bridge led the funding round, which also included investments from Ascentifi and Enterprise Ireland.

“We look forward to partnering with Vertigenius as they pioneer advancements in vertigo treatment,” said Conor O’Sullivan, Investment Director, Atlantic Bridge.

“The company’s innovative approach, based on technology developed by Dr Dara Meldrum at Trinity College Dublin, combined with their experienced team led by Mark Barry, and strong market potential, positions the company for significant success,” Mr O’Sullivan said.

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