Atlantic Therapeutics raises €15m in ‘strong endorsement’

Galway-based Atlantic Therapeutics has raised €15 million in funding from investors, including Seroba Life Sciences and Earlybird Venture Capital.

The medical device developer, a spin-out from the Bio-Medical Research Group, which retains a minority shareholding, also received loan capital from Silicon Valley Bank.

The funding will be used to accelerate growth from the company’s Innovo technology platform and for new product development.

Atlantic Therapeutics develops medical devices, related software, apps and connected health technologies, to treat incontinence, sexual health dysfunctions and other associated disorders by strengthening muscles and modulating nerves of the pelvic floor.

Sales at Irish-headquartered Jazz Pharma rise 12%

---

Sales surge for hospital software group Oneview

---

Amarin reports 59% jump in sales for Vascepa drug

---

Perrigo sells Tysabri rights to Royalty Pharma in €2.7bn deal

---

Daniel O'Mahony from Seroba Life Sciences and Thom Rasche from Earlybird Venture Capital will join the board of Atlantic Therapeutics.

"To have attracted such highly respected companies as Seroba, Earlybird and Silicon Valley Bank is a strong endorsement of Innovo," said chief executive Steve Atkinson. "We have the opportunity to transform the lives of millions of people who suffer the stigma of bladder weakness by restoring their pelvic floors without the need for surgery, injections, lasers or intrusive devices and therapies."