HomeFundingGalway-based medtech startup Atlantic Therapeutics raises €28 million following FDA approval for...

Galway-based medtech startup Atlantic Therapeutics raises €28 million following FDA approval for its garment-based device to treat incontinence

Incontinence is not a sexy issue – but it’s a surprisingly commone one. Around 25% to 45% of women have suffered from urinary incontinence at some point in the last year, with the most common causes being pregnancy, sport, stress, and menopause.

Galway-based medtech company Atlantic Therapeutics has developed a new solution for incontinence, INNOVO – a garment-based pelvic floor muscle strengthening and nerve stimulation device to treat bladder leaks. According to the startup, 93% of users see an improvement in their condition after a month of using INNOVO. The company has just closed a €28 million Series B funding round, which will help it to further its international expansion.

Atlantic Therapeutics recently gained FDA clearance for INNOVO, and so the new round will enable it to enter the US and markets, as well as further develop its existing product portfolio, and expand into new clinical applications.

The Series B round was led by LSP, one of Europe’s largest healthcare investment firms, with participation from Andera Partners, Atlantic Bridge Ventures, and existing investors, Seroba Life Sciences and Earlybird Venture Capital.

“INNOVO has already transformed the lives of many thousands of people in Europe,” said Steve Atkinson, CEO of Atlantic Therapeutics. “We are delighted to have completed our Series B financing with such renowned investors and look forward to working together to accelerate the growth and value of Atlantic Therapeutics.”

“Atlantic Therapeutics’ INNOVO provides a safe, clinically proven front-line therapy, increasing the options for the treatment of stress urinary incontinence, with the potential to significantly improve quality of life,” added Anne Portwich, Partner at LSP. “We are delighted to offer our financial, clinical and commercial support in helping this exciting company grow around the globe.”

Mary Loritz
Mary Loritz
Mary served as Head of Content at EU-Startups.com from November 2018 until November 2019. She is an experienced journalist and researcher covering tech and business topics.

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