Neuromod Closes €10 Million Financing to Accelerate Commercialization of Lenire
Neuromod Devices Ltd. has secured €10 million in oversubscribed equity financing to expand the availability of its FDA-approved tinnitus treatment device, Lenire.
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Neuromod Devices’ Lenire Receives De Novo Approval from FDA
Neuromod Devices' Lenire, a bimodal neuromodulation device, has received De Novo approval from the FDA to treat tinnitus. According to the company, Lenire is the first of its kind to receive FDA approval.
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‘Wired’ Article Suggests Apps and Devices to Help with Tinnitus
Described as a “phantom sound generated by the brain” by audiologist Julie Prutsman, tinnitus is a common condition experienced as ringing or buzzing in the ears, often caused by loud noise exposure. While there is no “cure” for tinnitus, there are methods of coping, according to a recent article in “Wired.”
Survey Shows Many Don’t Receive Tinnitus Treatment
New research from Irish medical device company, Neuromod Devices Ltd, has found that more than three quarters of people suffering from tinnitus in the United Kingdom have never received any treatment for their condition, according to an announcement on the company’s website. The poll also revealed that 67% of UK tinnitus sufferers don’t feel adequately informed about their condition.
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Neuromod Raises $12.4 Million in Series B Funding for Lenire Tinnitus Treatment Device
The investment was led by majority investor Fountain Healthcare Partners, with participation from existing investors Moffett Investment Holdings and Medical Device Resources, with venture-debt provided by Kreos Capital and Silicon Valley Bank.
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Neuromod Publishes Results of Tinnitus Study Utilizing Non-invasive Stimulation Device
The clinical trial was conducted between 2016 and 2019 and was designed to track changes in tinnitus symptom severity. The trial investigated the bimodal neuromodulation approach, using Neuromod’s non-invasive stimulation device that delivers sound to the ears and electrical stimulation to the tongue.
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Neuromod Appoints Rosemarie Tully as COO
In addition to her current responsibilities for corporate development and strategy, Ms Tully will now assume responsibility for all of Neuromod’s operating activities, including manufacturing, supply chain, regulatory, quality, and compliance functions. Ms Tully will continue to report to Dr Ross O’Neill, Chief Executive Officer of Neuromod.
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Neuromod Appoints Florian Elsaesser as Chief Commercial Officer
Elsaesser, a hearing aid industry expert, has worked in the sector for over 12 years in various executive positions for Sivantos and Siemens Audiology.
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Neuromod Closes on $8.75 Million Funding Round
Proceeds from the financing will be used to accelerate ongoing European commercialization of the Company’s Lenire tinnitus treatment device; to scale-up manufacturing capacity to meet anticipated European demand, and to progress the Company’s US regulatory strategy to secure market entry into the United States, according to Neuromod’s announcement.
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Neuromod Names New Members of Senior Leadership Team
Neuromod announces the appointment of Deborah Arthur as Head of Quality and Regulatory Affairs, Suzanne O’Rourke as Director of Quality and Regulatory Affairs, and Cathal Mc Fadden as Director of Operations.
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