Fire1 announced today the successful completion of a $120 million funding round aimed at accelerating the development of its heart failure management technology. A significant milestone was reached as the company received breakthrough device designation from the FDA. Additionally, its technology was accepted into the FDA’s Total Product Lifecycle Advisory Program (TAP), which supports the swift development and widespread availability of medical devices through early and consistent engagement with the FDA, patients, providers, and payers.\n\nBased in Dublin, Ireland, Fire1 is working on the Norm heart failure management system designed to allow patients to partake in physician-guided self-management. Norm’s goal is to alleviate the burden on healthcare professionals and maintain healthier patients at home.\n\nThe funding round was led by Polaris Partners and Elevage Medical Technologies, enabling the initiation of a key clinical trial. New investors such as Sands Capital and Longitude Capital took part while existing investors, including Andera Partners, Gilde Healthcare, Gimv, the Ireland Strategic Investment Fund, Lightstone Ventures, Medtronic, NEA (New Enterprise Associates), Novo Holdings, and Seventure Partners, continued their support.\n\n”Since our inception, our mission has centered on two main objectives: enhancing heart failure management by more direct fluid volume monitoring and empowering patients with data to elevate their lives,” stated Conor Hanley, CEO and President of FIRE1. “I am excited to bring four more elite investors into our outstanding group of partners.”
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