DiaNia Technologies, a medical devices start-up based in Galway, is to create 20 jobs over the next two years, having raised €2m in funding to create catheter-based devices.
Based in NUI Galway’s Business Innovation Centre, DiaNia Technologies has been on-the-go since 2013 as a start-up that aims to develop and commercialise a number of different medtech devices for the market.
Founded by Sinéad Kenny and Mark Mellet, the company has grown considerably in the three years since it was founded and now, according to The Irish Times, the company has secured one of its biggest funding rounds to date, worth €2m.
More specifically, this new funding will be used to help develop the company’s range of catheter-based medical devices called ExtraLub, which allows for medical professionals to change the surface of a catheter without affecting its key properties.
Hiring over two years
In doing so, this enables the manufacturer and hospitals making and receiving the devices to keep costs down compared with standard catheters.
Among the investors in this round are four major figures within the medtech sector, three of which have links to the Irish medtech company Creaganna, alongside Gearóid Flaherty of Eurand.
The company now plans to use this €2m over the coming two years to hire 20 new staff at its facility, with the roles being focused on the areas of manufacturing, compliance, marketing and specialised materials science.
Sinead Kenny from DiaNia using material science to innovate in medical devices. Amazing presentation #Inspirefest pic.twitter.com/qzDhhaskfh
— Natalie Walsh (@nataliemwalsh) July 1, 2016
Fresh from Inspirefest
Speaking of what this funding means to the company, co-founder Kenny said: “This €2m investment will accelerate the product arriving to market and will be of benefit to manufacturers and, ultimately, clients, around the world.
“Delivering a technology which has the ability to both improve the experience and outcome for the patient as well as making the end device safer and more efficient to produce are the drivers behind our extensive R&D programme.”
Kenny was on the Founders panel at this year’s Inspirefest and was also recently featured on Siliconrepublic.com’s How I Got Here series, where she described her decision to set up the company as one of the best decisions of her career to date.
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