FIRE1, a Dublin, Ireland-based developer of novel therapeutic devices, raised a Series A funding of undisclosed amount.
The company is incubated within The Foundry, a medical device incubator.
Backers included Covidien plc (NYSE: COV), Lightstone Ventures and New Enterprise Associates (NEA). In conjunction with the funding, Ryan Drant, General Partner, NEA, Stacy Enxing Seng, President, Vascular Therapies, Covidien, and Jason Lettmann, Partner, Lightstone Ventures, joined Hanson Gifford and Mark Deem, Managing Partners of The Foundry, on the FIRE1 Board.
Led by CEO Mark Deem, the company intends to use the funds to develop and commercialize its solutions. Specific market plans and financing terms were not disclosed.