From left: Versono Medical CEO Finbar Dolan, chair John O’Shaughnessy, Minister Hildegarde Naughton, Enterprise Ireland divisional manager Tom Kelly and Versono CTO Hugh O’Donoghue. Image: Versono Medical
The start-up and its partners were recently awarded a €7m grant to develop a device that treats complete coronary artery blockages.
Galway medtech Versono Medical has opened its newly expanded facility, which includes two floors of offices and laboratories.
The expansion took place at Versono’s current site in Parkmore Business Park. The start-up, which has grown to 22 staff since it was founded in 2018, will use the new space for its work in the area of vascular disease.
The official opening was conducted by Minister of State at the Department of Transport Hildegarde Naughton, TD, who called the expanded facility “impressive”.
“The emergence of new, innovation-led medtech companies is critical to advancing and sustaining the industry in Ireland,” Naughton said.
The opening comes after Versono and its partners were awarded a €7m grant from the Government’s Disruptive Technologies Innovation Fund (DTIF) last month.
The funding will go towards the VascuSense programme. Led by Versono, this project is developing a non-invasive device that will treat patients with chronic total occlusion, or complete coronary artery blockages.
Other members of the programme include Integer Ireland Medical and researchers at the University of Galway and Technology University Dublin.
Versono has developed the Fastwire device, which uses ultrasonic technology to break down complex blockages in patients who have critical limb ischemia, an advanced form of peripheral artery disease (PAD).
The device carries ultrasonic waves through a flexible wire, which can help restore blood flow in affected limbs. This technology is being used in the VascuSense programme.
The medtech said its Fastwire device could help reduce the need for more invasive and traumatic surgical procedures in PAD patients. It is estimated that more than 230m people worldwide are living with PAD.
In May, Versono raised €6.7m in funding to help complete clinical trials of the device and bring it to market.
Minister Naughton said disrupting innovations like Versono’s can enable small companies to build businesses that can compete – or even lead – in global marketplaces.
“The Government’s DTIF programme recognises that small Irish businesses can produce and commercialise innovative products and that larger companies can help them in scaling the commercial opportunity,” she added.
“Its purpose is to help overcome the challenges faced in creating disruptive technology and in finding the capital to commercialise it.”
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