Medtech firm wins €2.3m funding for heart trials
NUI Galway spinout firm AtriAN Medical has attracted €2.3m in seed funding to finance its clinical trials of a new device developed in partnership with the Mayo Clinic in Minnesota, USA.
The seed investment was led by the Western Development Commission and includes Mayo Clinic Ventures, Enterprise Ireland, Atlantic Bridge and Xenium Capital as well as private angel investors with strong medtech portfolios.
The device is designed to manage atrial fibrillation, an irregular and often rapid heart rate that can increase risk of strokes, heart failure and other heart-related complications.
It delivers short, precise electrical signals that AtriAN Medical says "knock out" hyperactive cells and reduces the muscle's sensitivity to fibrillation.
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AtriAn Medical - which is already working with specialists in the University of Amsterdam Medical Centre and Na Homolca Hospital in Prague - said it expects to begin human trials in late 2020 at a specialist European centre.
The collaboration between NUI Galway and Mayo Clinic was spurred by Enterprise Ireland's 2014 agreement with the Mayo Clinic to promote research collaboration with Irish universities.
"It's great to see the progress made since we supported the original commercialisation funding," said Alan Hobbs, of Enterprise Ireland.