Galway's Neosurgical secures €1.6m funding

Tuesday 20 September 2011 11.52
Kernel Capital invests in Galway start-up firm
Kernel Capital invests in Galway start-up firm

Kernel Capital, through the Bank of Ireland MedTech Accelerator Fund, has invested €0.5m in the Neosurgical start-up company. The company operates from its laboratories in Galway.

The total syndicated investment of €1.6m comprises the Kernel money with the rest of the funds provided by Enterprise Ireland and a number of private investors.

The company, working with practising surgeons, is committed to developing and delivering innovative products that enable simpler, safer and more efficient laparoscopic abdominal surgery which enables better patient outcomes.

''This development will enable us to complete our device development and take our place in the global med tech market,'' commented Barry Russell, Neosurgical's chief executive.