A consortium led by University of Galway medtech startup Spiorad Medical has secured a €1.7million euro investment through the Government’s Disruptive Technologies Innovation Fund (DTIF ).
Spiorad Medical aims to develop a next-generation vascular closure device to simplify cardiovascular procedures while improving outcomes and recovery for patients.
The device is designed to stop bleeding quickly and safely during structural cardiovascular procedures such as TAVI or EVAR that use larger tubes or access devices.
Spiorad Medical is an Enterprise Ireland HPSU client company based at University of Galway’s Business Innovation Centre. The successful consortium is a partnership involving Spiorad Medical, University of Galway and Dolmen Design and Innovation Ltd, combining breakthrough medtech and the University’s research expertise with Dolmen’s leading product design capabilities.
Judi O’Malley, Co-founder and CEO of Spiorad Medical, said: “With this DTIF award, we can accelerate the development of advanced cardiovascular procedures and deliver better outcomes for patients. Our ambition as a consortium is to help transform vascular closure technology, delivering greater access, ease of use and improved solutions to the interventionalist’s challenge - resulting in better clinical outcomes and faster recovery for patients.”
Professor Lokesh Joshi, Vice President for Research and Innovation at University of Galway, said: “Congratulations to Judi O’Malley, the Spiorad team, the University of Galway, and Dolmen Design and Innovation for this fantastic achievement under the Disruptive Technologies Innovation Fund. This is another great example of a University of Galway startup delivering real impact for patients and clinicians.”
