From left: Gerard Ryan, Irrus Investments; Michelle Tierney and Tim Jones, SymPhysis Medical. Image: Aengus McMahon
The medtech company will seek regulatory approval in the US for its device treating end-of-life cancer patients at the end of 2025.
Galway-based start-up SymPhysis Medical has received €2.2m in funding, which it will use to carry out pre-clinical studies for its medical device.
The funding consists of follow-on investments from Irrus Investments, the MedTech Syndicate and Boole Investments along with capital from Enterprise Ireland and a new private investor.
A previous SiliconRepublic.com Start-up of the Week, the company was founded by CEO Tim Jones and chief scientific officer Dr Michelle Tierney.
The start-up has developed a device that addresses malignant pleural effusion – a build-up of fluid between the chest wall and the lung, which can occur in late-stage cancer patients.
This fluid can leave those affected feeling short of breath or experiencing chest discomfort and is a common occurrence for end-of-life cancer patients.
SymPhysis Medical’s device promises a less invasive alternative to current treatments and can be managed from a patient’s home, giving patients more freedom.
The latest funding will help the company to launch in the US and reach its first patients. Part of these plans include getting approval from the Food and Drug Administration (FDA) by the end of 2025.
Jones said the start-up’s focus has always been on enhancing patients’ quality of life as they receive palliative care.
“We are excited to be getting to the point when we can finally see our device benefiting patients. This would not have been possible without the support of our investors, who have seen that this is an unmet clinical need with global market potential,” he said.
“We have also been able to demonstrate to them that this is a device with the support of global leaders in cancer care, so there is no question about the appetite for it – it is all about getting it to our first patients as soon as possible.”
SymPhysis Medical’s latest funding follows a €1.5m fund raise in December 2023, which it had planned to use on growing its team. The company also won the Collaboration in Medtech Award at the Irish Medtech Awards that same month.
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