FIRE1 funding news – Dublin-based FIRE1 has Raised $120M in Funding

Funding Utilisation

The funding will help the Irish company complete an important clinical trial for its Norm heart failure management solution.

Along with the funding, FIRE1 also received FDA Breakthrough Device Designation and was accepted into the Total Product Lifecycle Advisory Program (TAP).

FIRE1, led by Conor Hanley, is focused on improving the lives of people with chronic diseases. The company's goal is to help millions of people with heart failure return to normal lives.

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Last year, the company announced that the first Irish patient was successfully implanted with the FIRE1 System for remote heart failure monitoring.

The procedure took place at University Hospital Galway during the FUTURE-HF study, which is testing how well the FIRE1 System can improve the health of heart failure patients.

The company aims to change how heart failure is managed by allowing patients to monitor and control their fluid levels at home with an easy-to-use device, similar to how continuous glucose monitoring changed diabetes care.

Fluid overload is a key issue in heart failure, affecting over six million people in the U.S. and causing most hospitalizations for people over 65.

Current technologies don't measure fluid where it builds up (the IVC), leading to delayed readings that miss early signs of overload, making it harder to manage without a hospital visit.

The FIRE1 system is a small, easy-to-implant sensor that detects fluid buildup early, allowing patients and doctors to manage it before it requires hospitalization.

The company is supported by investors like Andera Partners, Gilde Healthcare, Gimv, the Ireland Strategic Investment Fund, Lightstone Ventures, Medtronic, New Enterprise Associates, Novo Holdings, and Seventure.

About FIRE1

Headquartered in Dublin, Ireland, FIRE1 is a connected medical device solutions company dedicated to improving outcomes for people suffering with chronic diseases. Its investors include Andera Partners, Gilde Healthcare, Gimv, the Ireland Strategic Investment Fund, Lightstone Ventures, Medtronic, New Enterprise Associates, Novo Holdings and Seventure. Its mission is to empower millions of people suffering from heart failure to get their normal lives back.