GALWAY COMPANY SECURES MAJOR FUNDING FOR NEW MEDICAL DEVICE

Date Published: 15-Jun-2009

A Galway medical firm has raised over 12 and a half million euro in funding to launcha heart stent designed to prevent blockages of smaller arteries feeding the heart.Cappella, which is based in Ballybrit business park, specialises in developing stents to help treat heart disease and this new stent is the company's first product.The Sideguard Sidebranch stent flares at one end to work around the point of intersection between arteries and has cost the company around 25 million euro to develop over the past 4 years.The latest funding for the product was supported by Irish based investors ACT Venture Capital and Eurpoean venture capital firm Polytechnos Partners.Michael Gilmore, Research and Development manager of Cappella, believes the new Galway-made stents will benefit cardiac patients across the globe