Neuromod Secures €10M for Tinnitus Relief

Summary

Neuromod Devices has secured €10 million in funding to expand the reach of its Lenire tinnitus treatment device. The funding will support the company’s efforts to make Lenire more accessible in the US and Europe, where tinnitus affects millions. This investment underscores the growing demand for effective tinnitus treatments and Neuromod’s commitment to advancing tinnitus care.

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** Main Story**

Neuromod Devices, an Irish med-tech company, just snagged a cool €10 million in equity financing. The goal? To get their tinnitus treatment device, Lenire, into more hands. Which is great news for sufferers, right?

This funding round, an extension of their Series B, comes after a prior investment of over $33 million about two years back. Shows real confidence in Neuromod’s vision, wouldn’t you say?

As of today, March 14, 2025, the funds will really kickstart their efforts to broaden the availability of Lenire. And honestly? It’s about time.

Lenire: Not Your Grandma’s Tinnitus Treatment

Tinnitus, that constant ringing, buzzing, or hissing in the ears, impacts a huge chunk of the population – roughly 10-15% of adults globally. It’s awful, and current treatments often fall short, leaving many feeling hopeless, I know someone who has it, and I can’t even imagine what it must be like. Lenire offers a fresh perspective with bimodal neuromodulation.

Essentially, it combines gentle electrical pulses delivered to the tongue via a custom-designed intra-oral device with precisely calibrated sounds played through headphones. Trust me; I know it sounds wild. But this synchronized stimulation targets both the auditory and trigeminal nerves, triggering neuroplasticity in the brain. Which, in turn, can actually reduce tinnitus symptoms.

Pretty neat, huh? The device isn’t just something you pick up off the shelf, though. A qualified healthcare professional, like an audiologist or ENT surgeon, has to prescribe and fit it. They also tailor the treatment to each patient.

Getting Lenire to Those Who Need It

So, where does this new funding come in? Well, it’ll empower Neuromod to seriously ramp up Lenire’s availability in both the US and Europe.

In the US, over 100 clinics are already offering Lenire. And, the company plans to expand its network even further, particularly to reach veterans and military personnel. Tinnitus is, after all, a massive issue within that community, with the US Department of Veteran Affairs recognizing it as the most prevalent service-connected disability. Makes you think, doesn’t it?

Neuromod actually has a Federal Supply Schedule 65 II Medical Equipment and Supply Contract with the US Government. That makes Lenire a real option for the nearly 3 million veterans struggling with tinnitus.

Over in Europe, Lenire’s available in 14 countries. But the plan is to keep expanding. A recent doubling of trained clinics in the UK and introduction of Lenire to Swedish patients just underscores that dedication. And I tell you, that’s dedication I can get behind.

Addressing a Real Problem

This investment in Neuromod is indicative of a larger trend: a growing focus on innovative solutions for neurological conditions within the med-tech industry. The global neuromodulation market is seeing serious growth, fuelled by rising awareness and prevalence of conditions like tinnitus, chronic pain, and neurological disorders.

Lenire steps up to fill a significant void in tinnitus care, providing a novel, non-invasive treatment that’s shown clinical effectiveness. Importantly, the funding isn’t just about expanding access. It will also support ongoing R&D, potentially paving the way for further breakthroughs in tinnitus treatment and other neurological applications. Let’s not forget that the company’s also dedicated to providing continuous clinical education, training, and support for healthcare professionals. Ensuring patients get the best possible care using the device.

Looking Ahead

This €10 million investment is a massive win for Neuromod, and a lifeline for those living with tinnitus. This financial boost will enable Neuromod to accelerate its mission of establishing bimodal neuromodulation as a standard of care for tinnitus.

So, by widening Lenire’s reach, more people will get access to a potentially life-changing treatment. Which is just going to improve their quality of life and reduce the burden of this often-debilitating condition. This ongoing investment in tinnitus research and development definitely points towards a brighter future for tinnitus care. And that’s something worth celebrating!