Ireland-based medical device developer Neurotronik has closed a $23.1m series B round led by medical equipment producer Boston Scientific, with the funding to be provided in tranches in line with milestones.
The round was supported by Hatteras Venture Partners, Synergy Life Science Partners, Lord Baltimore Investment Partners, Mountain Group Capital and Sovereign’s Capital as well as undisclosed financial and industry participants.
Founded in 2012, Neurotronik has developed neurostimulation therapy to stimulate a patient’s cardiac function. The technology aims to improve treatment for patients who suffer from acute heart failure.
The series B funding will allow the company to seek CE marking for its Neurotronik Cans Therapy, The mark is a regulatory requirement in the European Economic Area that proves a product meets all relevant EU directives.
Hatteras Venture Partners previously led Neurotronik’s $13.1m series A round in 2013, with participation from Synergy, Mountain Group, Lord Baltimore Investment and unnamed financial and industry figures.