Neuromod Devices Limited, a Dublin, Ireland-based medical device company specializing in the treatment of chronic tinnitus, raised €5.5m (approx. $6.2m) in Series A funding.
International life sciences venture capital fund Fountain Healthcare Partners made the investment. As part of the financing, Dr Manus Rogan of Fountain Healthcare Partners will join the Board of Directors of Neuromod.
The company, which has raised over €8m ($9m), intends to use the funds to further enhance scientific and clinical understanding of its bi-modal neuromodulation device, mutebutton®, and commence US clinical trials.
Led by Dr Ross O’Neill, Founding CEO, Neuromod is advancing the non-invasive mutebutton® device, which uses bi-modal neuromodulation via simultaneous auditory stimulation in the ear and sensory stimulation on the tongue to promote positive changes in neuroplasticity in parts of the brain implicated in tinnitus.
The international launch of the device is targeted for 2018.