Neurent Medical Raises €62.5M Series C for Chronic Rhinitis Treatment

Neurent Medical announced the successful close of its oversubscribed Series C financing round. The company raised 62.5 million euros, equivalent to 74 million dollars. The round was led by MVM Partners with significant participation from Sofinnova Partners and continued support from existing investors EQT Life Sciences, Atlantic Bridge, Fountain Healthcare Partners and Enterprise Ireland. The proceeds will support commercial expansion, the broadening of clinical evidence and advancement of the product and indication pipeline. Chief Executive Officer Brian Shields welcomed the new investors and said the financing will help bring the NEUROMARK solution to patients and physicians. Neurent Medical appointed Kyle Dempsey of MVM Partners and Cedric Moreau of Sofinnova Partners to its board of directors. Kyle Dempsey said posterior nasal nerve ablation represents a powerful tool for relief and that Neurent has set a standard with its impedance control system that delivers real time feedback. Cedric Moreau said chronic rhinitis is a widespread condition with limited treatment options and cited growing clinical evidence of meaningful patient benefit along with potential for additional indications. Neurent Medical develops the NEUROMARK System, which utilizes Impedance Controlled Radiofrequency technology to disrupt hyperactive posterior nasal nerves and provide durable symptom relief from chronic rhinitis.