FIRE1 Secures Financing to Revolutionize Heart Failure Care
Deal News | Jan 07, 2025 | Eagle Venture Partners OOO
FIRE1, a pioneering company based in Ireland, has secured a $120 million financing round to further its innovative Norm heart failure management system. This capital will bolster their efforts to complete pivotal clinical trials, aiming to significantly improve heart failure care through cutting-edge technology. FIRE1's Norm system allows patients to engage in physician-directed self-management, reducing the healthcare staff's burden by enabling patients to remain healthier and more independent. Leading this round were Polaris Partners and Elevage Medical Technologies, with additional substantial participation from new investors Sands Capital and Longitude Capital, complemented by existing supporters such as Andera Partners and Medtronic. This collective investment reflects a robust interest from various stakeholders in transforming heart failure care and emphasizes the substantial potential of FIRE1’s technology in addressing the healthcare needs associated with heart failure.
Sectors
- Healthcare Technology
- Venture Capital and Private Equity
Geography
- Ireland – FIRE1 is based in Dublin, Ireland, influencing the geographical focus of the company's operations and clinical trials.
Industry
- Healthcare Technology – Relevant due to FIRE1's development of a connected medical device aimed at improving heart failure management.
- Venture Capital and Private Equity – Pertinent given the involvement of multiple investment firms, including Polaris Partners and Elevage Medical Technologies, in the financing round.
Financials
- $120 million – The total amount raised by FIRE1 in their latest financing round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| FIRE1 | Target Company | Company | A connected medical device company focused on heart failure management. |
| Polaris Partners | Lead Investor | Company | A venture capital firm that led the $120 million financing round for FIRE1. |
| Elevage Medical Technologies | Lead Investor | Company | A technology investment company co-leading the financing round for FIRE1. |
| Sands Capital | Investor | Company | A new investor participating in the financing round of FIRE1. |
| Longitude Capital | Investor | Company | A new investor participating in the financing round of FIRE1. |
| Andera Partners | Existing Investor | Company | One of the existing investors in FIRE1's financing round. |
| Gilde Healthcare | Existing Investor | Company | One of the existing investors in FIRE1's financing round. |
| Gimv | Existing Investor | Company | One of the existing investors in FIRE1's financing round. |
| Ireland Strategic Investment Fund | Existing Investor | Company | One of the existing investors in FIRE1's financing round. |
| Lightstone Ventures | Existing Investor | Company | One of the existing investors in FIRE1's financing round. |
| Medtronic | Existing Investor | Company | A major medical device company and existing investor in FIRE1. |
| NEA (New Enterprise Associates) | Existing Investor | Company | One of the existing investors in FIRE1's financing round. |
| Novo Holdings | Existing Investor | Company | One of the existing investors in FIRE1's financing round. |
| Seventure Partners | Existing Investor | Company | One of the existing investors in FIRE1's financing round. |