Galway-based medtech start-up Versono Medical has raised €6.7 million in funding from a mix of existing investors, including DHKN, BVP and private investors from the medical device sector, as well as State agencies such as Western Development Commission and Enterprise Ireland
The funding will be used to help bring its intravascular medical device to market.
Versono Medical was founded by Finbar Dolan and Hugh O’Donoghue in 2018, with 22 staffs in full and part-time roles.
The company’s focus is on developing and commercialising a new technology platform for endovascular surgery that will focus initially on patients with Critical limb ischemia CLI, the most severe and advanced clinical manifestation of Peripheral Arterial Disease PAD. Versono’s mission is to enable endovascular treatment of Complex Chronic Lesions to alleviate pain, save limbs and save lives in order to address poor patient outcomes, high amputation and high mortality rates associated with CLI.
The technology targets severe occlusions in CLI patients, which presents one of the most challenging unmet needs in peripheral endovascular surgery. Versono Medical’s product is designed to efficiently revascularize the lesion and present an avenue for subsequent therapeutic interventions to improve patient outcomes.