Galway Start-Up Offers New Remedy for Arthritis
Gerry Clarke and Dr. Brendan Boland, co-founders of Loci Orthopaedics.
By Irish America Staff
Loci Orthopaedics, a Galway-based medical devices start-up that has developed a new joint implant to treat arthritis, announced on July 7 that it has raised €2.75 million in a seed round.
The company, a spin-off from NUI Galway and KU Leuven in Belgium, said it intended to use the financing to commercialize the "InDx" device to treat what is a common but crippling joint condition, arthritis of the thumb base joint, which affects at least five percent of the global population, causes significant functional impairment of the hand.
The funding has been provided by Enterprise Ireland, the Western Development Commission, the investment arm of KU Leuven University, and a number of unnamed industry veterans. ♦