Sunday, May 19, 2024

LaNua Medical wins Big Ideas, will represent Ireland in US world cup

Must read

Dr Cormac Farrelly, founder and chief medical officer of LaNua, told yesterday that the start-up plans to spin out of UCD in the coming months.

LaNua Medical, a medtech start-up based in University College Dublin (UCD), has been declared the winner of this year’s Enterprise Ireland Big Ideas Award.

It was one of 10 research-based companies pitching for the top prize at Enterprise Ireland’s Start-Up Day last evening (14 May) in Dublin Castle. Plio Surgical, represented by co-founder Dr Cristina Purtill, was adjudged the runner-up.

Both LaNua Medical and Plio Surgical will now head to San Francisco later this year to attend the Pegasus Startup World Cup, where LaNua will represent Ireland in the global competition.

Based in NovaUCD, LaNua has developed a medtech solution to embolisation, a minimally invasive procedure that can be used to treat internal bleeding or cause tumour-necrosis. Its Gatekeeper device blocks blood flow to select tissue while enabling targeted therapeutic delivery with reduced risk of side effects.

Dr Cormac Farrelly, founder and chief medical officer of LaNua, told at the event yesterday that LaNua plans to spin out of UCD in the coming months and raise more funding to scale its business in the US market.

The other start-ups that pitched include: Incasetech (Jaqueline Humphries), Pyramp (Iftekhar Hussain), Arraypatch (Waleed Faisal), Kowroo (Sheelagh Brady), Renovate Pharma (Alan Markey), CommPal (Ciara Heavin), KineMo (Leo Peyton) and SusBioMe (Ajay Menon).

“I would like to congratulate LaNua Medical, a worthy winner of today’s Big Ideas award,” said Minister for Enterprise, Trade and Employment Peter Burke, TD.

“I have no doubt will go on to make Ireland proud at the International Startup World Cup in the US. Enterprise Ireland’s Start-Up Day offers an exciting snapshot of the future, showcasing investor-ready start-ups with disruptive technologies that will change our world for the better, as well as providing opportunities for keen investors.”

The Start-Up Day event coincided with an Enterprise Ireland report yesterday that said the state agency invested €24m across 156 Irish start-ups last year. Of these companies, 85 were classed as High Potential Start-Ups (HPSU) while 71 benefitted from the Pre-Seed Start Fund for budding businesses.

Find out how emerging tech trends are transforming tomorrow with our new podcast, Future Human: The Series. Listen now on Spotify, on Apple or wherever you get your podcasts.

Latest article