Galway is to receive a multimillion-euro investment from medical devices firm Veryan.

The development will create 20 new roles in the city where it has been operating since 2006.

The money will be used to further expand and diversify Veryan's product portfolio.

It currently makes the BioMimics 3D Swirling Flow stent, which is sold in Europe and the US.

The new staff will work across three development projects, with two of those focused on arterial intervention and the other on a new treatment for venous disease.

The investment is supported by the Irish Government through IDA Ireland, which welcomed the news.

Veryan was bought by Otsuka Medical Devices in 2018 and currently employs 46 people in Ireland.

They work in design engineering, development, supply chain operations, regulatory, quality assurance, clinical operations, data management and finance.

The company recently moved to a new 15,000 sq ft facility at Parkmore Business and Technology Park in Galway.

"We are grateful for IDA Ireland’s support of our R&D programme in Ireland, which is central to our activities to deliver innovative and unique endovascular technologies to patients and physicians," Noriko Tojo, President and Representative Director of Otsuka Medical Devices. 

"We look forward to continuing working with our talented colleagues in Ireland to achieve this ambitious goal."