Neuromod secures €10 million funding to boost global launch
Deal News | Mar 11, 2025 | PR Newswire Cision Neuromod
Neuromod Devices Ltd, an Irish medical device company focused on treating tinnitus, has closed a €10 million Series B capital funding round. The round was oversubscribed and led by existing investors, Fountain Healthcare Partners and Panakès Partners. This funding will accelerate the commercialization of Lenire, Neuromod’s FDA-approved tinnitus treatment device, in both Europe and the USA. The device is now available in audiology and otolaryngology clinics across 14 countries in Europe, while more than 100 clinics in the USA are already utilizing Lenire for tinnitus patients. New funding will allow Neuromod to broaden its market reach and maintain collaborations, including with the US Department of Veterans Affairs (USVA), potentially helping the 2.9 million US veterans affected by tinnitus. Neuromod’s founder and CEO, Dr. Ross O'Neill, expressed pride in the advancements made towards global tinnitus treatment and gratitude towards the supporting investors. The real-world success of Lenire adds significant confidence to investors and stakeholders alike, further evidenced by positive outcomes in clinics such as the Alaska Hearing & Tinnitus Centre.
Sectors
- Medical Devices
- Healthcare
- Private Equity
Geography
- Ireland – Neuromod Devices Ltd is headquartered in Dublin, Ireland, indicating its operational and strategic base.
- United States – The expansion of Lenire's market includes significant penetration into the US healthcare sector, especially collaboration with the USVA.
- Europe – Lenire's availability in 14 European countries reflects Neuromod's market strategy across the continent.
Industry
- Medical Devices – Neuromod Devices operates in the medical devices sector, specifically providing neuromodulation solutions for tinnitus treatment.
- Healthcare – The company's operations relate to the healthcare sector, focusing on improving treatments within the audiology field, and have implications for healthcare systems and policy, especially with VA partnerships.
- Private Equity – The article discusses funding involving private equity firms Fountain Healthcare Partners and Panakès Partners, highlighting activity in the investment sector.
Financials
- 10,000,000 euros – The latest funding round completed by Neuromod Devices, led by existing investors.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Neuromod Devices Ltd | Target Company | Company | Irish medical device company specializing in neuromodulation technologies for tinnitus treatment. |
| Fountain Healthcare Partners | Investor | Company | A healthcare-focused venture capital company investing in Neuromod's funding round. |
| Panakès Partners | Investor | Company | A venture capital firm involved in life sciences investing, co-leading the funding round for Neuromod. |
| Ross O'Neill | Founder & CEO | Person | Founder and CEO of Neuromod, overseeing operations and strategic direction. |
| US Department of Veterans Affairs | Partnership Entity | Government | Collaborates with Neuromod to potentially provide tinnitus treatment to veterans. |
| Alaska Hearing & Tinnitus Centre | Clinical Practitioners | Company | Clinic reporting significant real-world success with the Lenire device for tinnitus treatment. |