Galway MedTech company receives €2.2 million funding for ‘game-changer’ cancer device
BY JAMIE CONLON
Galway-based MedTech company, SymPhysis Medical, announced that it has received €2.2 million in funding as it aims to launch their ‘releaze’ cancer device in the US.
The medical company has been working in collaboration with global leaders in cancer care to develop ‘releaze’, a device designed for cancer patients who are suffering from fluid in the chest.
Fifty per cent of end-of-life cancer patients are impacted by the condition which can cause pain and shortness of breath. It also requires frequent hospital visits.
The medical device can be managed from the patient’s home, offering a less invasive alternative to hospital care.
Enhancing quality of life
Tim Jones, CEO of SymPhysis Medical, said: “At SymPhysis Medical, our focus has always been on the patient and enhancing their quality of life as they receive palliative care.
“Despite the seriousness of their condition, these patients can still lead active lives; we have met patients who are still jogging, hiking and swimming.”
The latest funding follows on from the €1.5 million announced in December 2023. It will help the company to launch in the US and reach its first patients. SymPhysis Medical aims to raise a total of €6.5 million by the end of 2024.
Key to the company’s launch in the US is to gain Food and Drug Administration (FDA) clearance, which they aim to receive by the end of 2025. Approval would mean that SymPhysis Medical could reach it’s first 10 to 20 patients.
The target for SymPhysis Medical is to treat those under the care of the MD Anderson Cancer Center in Houston, Texas and the Mayo Clinic in Rochester, Minnesota. The company has been working alongside clinicians in both institutions for the last five and seven years respectively.
“Game-changer”
Speaking about the new device, Dr Horiana Grosu, Director of Pleural Service in MD Anderson Cancer Center, said:
“This new system could be a game-changer. Once the catheter is available for use, we will aim to gather real-time clinical data to compare its performance with the currently available systems.
“Based on the preliminary data, I am quite confident that the device will be widely adopted soon, as it appears to offer clear advantages.”
If granted FDA clearance, SymPhysis Medical will then aim to attain the CE mark, which would enable it to market its device in Europe.
