Dublin, May 5th 2020. Foundry Innovation & Research 1, Ltd. (FIRE1), today announced the close of equity financing of EUR 7.5 Million from The Ireland Strategic Investment Fund (ISIF). The additional financing will enable FIRE1 to expand its solution empowering patients with heart failure.
“We are delighted to bring ISIF on board at this exciting stage of our growth” said Conor Hanley, FIRE1 CEO and President. “The ISIF investment will be used to broaden our solution to help patients living with Heart Failure. The continued expansion of our team and the ISIF support demonstrates that Ireland, with its unique concentration of medtech and software companies, is an ideal location to develop global digital health solutions. ”
Headquartered in Dublin, Ireland, FIRE1 is a connected medical device solutions company dedicated to improving outcomes for people suffering with chronic diseases. Its first product is a novel remote monitoring solution to improve outcomes for Heart Failure patients. The FIRE1 team is led by an experienced medical devices team who are working closely with researchers, clinicians, patients, and payors to help reduce the burden of heart failure. For more information, please visit www.fire1foundry.com.
The Ireland Strategic Investment Fund, managed and controlled by the National Treasury Management Agency (NTMA), is an €8.6 billion sovereign development fund with a unique mandate. ISIF has a statutory mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. The fund’s predecessor was the National Pensions Reserve Fund (NPRF).