DiaNia Technologies raises €2m funding and plans 20 new jobs
Start-up plans to use funding to develop specialised materials for medical devices
DiaNia investors Helen Ryan, Gearóid Faherty and Ian Quinn, pictured with chief executive Sinead Kenny (third right).
jobs over the next two years after raising €2 million in seed funding to develop specialised materials for catheter-based medical devices.
Investors in the funding round include two former chief executives of Creganna Medical, the founder of the Nasdaq-listed pharma firm Eurand, Enterprise Ireland and HBAN’s Medtech Business Angel Syndicate.
Improve functionalityDiaNia was founded by Sinéad Kenny and Mark Mellett in 2013. The company is focused on developing and commercialising materials that improve the functionality of medical devices to increase patient safety and product performance. It is estimated that the global market potential for this material science technology is in excess of €250 million.
DiaNia, based in NUI Galway’s Business Innovation Centre, intends to create jobs in a number of areas including specialised materials science and extrusion positions, as well quality assurance, regulatory affairs, manufacturing, marketing and finance.