Neuromod Devices raises €10M Series B extension for tinnitus treatment device Lenire
Summary
Neuromod Devices has closed a €10 million equity financing as an expansion of its Series B fundraisings. The oversubscribed round was led by existing investors Fountain Healthcare Partners and Panakès Partners. The Irish medical device company will use the funds to accelerate commercialization of Lenire, its non-invasive bimodal neuromodulation tinnitus treatment device, in the USA and Europe.
Why it matters
Tinnitus is the largest unmet need in hearing healthcare globally and the number one service-connected disability among US veterans. Lenire has been approved by the FDA and is now available in over 100 clinics in the USA and 14 European countries. The funding will help meet growing demand through sustainable commercial expansion, including within the US Department of Veteran Affairs.
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