VERSONO Medical is delighted to announce that it has opened its expanded laboratories and offices over two floors at its current facility in Parkmore Business Park, Galway.
The official opening was conducted by Minister of State at the Department of Transport Hildegarde Naughton.
The opening comes after VERSONO Medical was recently awarded, with its partners, a €7m grant – the largest of the recently-announced Disruptive Technologies Innovation Fund awards.
The funding was for the Vascusense programme, led by VERSONO, which builds on the company’s platform technology through a programme of strategic research with consortium partners – Integer Holdings, the Technological University of Dublin and the University of Galway.
It also followed an announcement last May that it had raised €6.7 million in new funding to boost the company’s bid to bring its ground-breaking FastWire intravascular medical device to market.
“We are delighted to expand the business in Galway which is a leading global hub for MedTech. The prospect of new Irish companies like VERSONO, producing world class innovative products and technologies for patients and physicians around the world, is truly exciting. The focused collaboration the DTIF Award, by building bridges between R&D done by researchers in universities and industry, fosters sustained innovation, focused on real clinical needs, and creating real jobs in R&D and Commercialisation,” John O’Shaughnessy Chairman of Versono said.
Minister Hildegarde Naughton said:
“I want to wish the Versono team every success in their impressive newly-expanded facility. It is exciting to see the expansion of such a disruptive vascular device company designed and built in Galway, one of the world’s leading centres of excellence in MedTech. The emergence of new, innovation led, MedTech companies is critical to advancing and sustaining the industry in Ireland.
“Disruptive innovation, like VERSONO’s, can enable small companies to build businesses capable of competing – and even leading – in global marketplaces. The Government’s DTIF programme recognises that small Irish businesses can produce and commercialise innovative products and that larger companies can help them in scaling the commercial opportunity. The DTIF, through projects like Vascusense, is designed to assist companies collaborate and leverage the State’s research infrastructure at third level in order to innovate. Its purpose is to help overcome the challenges faced in creating disruptive technology and in finding the capital to commercialise it. Its aim is to help achieve the Governments goal of protecting existing jobs and creating new ones, while sustaining and strategically growing the Irish economy.”