The Ireland-based medical technology company Atlantic Therapeutics raises an investment of €28 million in Series B. The round was led by LSP, investing from its LSP Health Economics Fund 2, joined by Andera Partners, investing from its BioDiscovery 5 fund, and Atlantic Bridge Ventures, investing from the China-Ireland Growth Technology Fund. In addition, the company’s existing investors, Seroba Life Sciences and Earlybird Venture Capital, followed their investment.
The company intends to use the funds to continue the company’s growth and to enter the US market, as well as to further develop its product portfolio.
The company gained the FDA approval for their therapy device called INNOVO® – a non-invasive pelvic floor exerciser that treats the root cause of bladder weakness. The device uses electrical muscle stimulation (EMS) to optimally strengthen the pelvic floor and re-educate the muscles that play an important role in bladder control.