Business Irish

Tuesday 18 June 2019

Atlantic Therapeutics raises €28m in new funding round

Galway medtech company Atlantic Therapeutics has raised €28m in funding
Photo: Google Maps
Galway medtech company Atlantic Therapeutics has raised €28m in funding Photo: Google Maps
Gavin McLoughlin

Gavin McLoughlin

Galway medtech company Atlantic Therapeutics has raised €28m in funding.

The money will be used to launch in the US market, with the firm having received FDA approval for a device known as Innovo, which is designed to treat incontinence.

The funding will also help accelerate sales in other countries, further develop existing products, and expand into new medical areas.

The Innovo product is a garment similar to a pair of shorts, which is designed to strengthen the pelvic floor and guard against bladder leaks.

LSP, one of Europe's largest healthcare investors, is the lead investor in this funding round.

Other investors in the round include Irish venture-capital firm Atlantic Bridge. Existing investors Seroba Life Sciences, another Irish firm, and Earlybird Venture Capital also participated in the investment.

"Innovo has already transformed the lives of many thousands of people in Europe," said Atlantic Therapeutics CEO Steve Atkinson.

"We are delighted to have completed our series-B financing with such renowned investors and look forward to working together to accelerate the growth and value of Atlantic Therapeutics."

Irish Independent

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