Medtech start-up’s cash boost
A Galway-based medtech start-up has achieved a double milestone – raising €1 million in a seed round, as well as securing €2.5 million through one of the latest European Union Horizon 2020 grants.
The combined €3.5 million will be used to help commercialise EnteraSense’s technology, build the team to nine members, and further the field of diagnostics.
Founded by serial entrepreneur and CEO, Donal Devery, EnteraSense has developed a capsule that can detect bleeding in the gastro-intestional tract.
Post-surgical patients who are at risk of further bleeding can have the capsule attached to their stomach to monitor and detect bleeding and thus ensure they get appropriate and quick treatment if needed.
To complement this, patients who present in ER and have suspected GI bleeding can swallow the capsule for a quick and easy diagnosis. This will mitigate unnecessary endoscopies which are invasive and in a lot of circumstances unnecessary.
Donal Devery – along with EnteraSense MD, Daragh Sharkey and Programme Manager Chiara Di Carlo – has licenced the groundbreaking technology from Harvard University in Boston.
For more, read this week’s Connacht Tribune.
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