Scaling firm Versono opens Galway base

Emerging tech business Versono Medical has grown from two to 22 people in less than three years.

Galway-based Versono Medical has opened its newly-expanded laboratories and offices over two floors at its current facility in Parkmore Business Park.

Versono, founded by CEO Finbar Dolan and CTO Hugh O’Donoghue in 2018, is a trailblazer in the area of treating vascular disease.

“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 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 – Interger Holdings, the Technological University of Dublin and the University of Galway.

It also followed an announcement last May that it had raised €6.7m in new funding to boost the company’s bid to bring its ground-breaking Fastwire intravascular medical device to market.

Fastwire technology

Versono’s revolutionary Fastwire technology employs novel ultrasonic technology to treat the  most severe and advanced form of the peripheral vascular disease. The new device technology platform will help reduce the need for more invasive and traumatic surgical procedures, leading to better outcomes for patients who could otherwise be facing the dire prospect of amputation and even death.

“We are delighted to expand the business in Galway which is a leading global hub for MedTech,” said Versono chair John O’Shaughnessy.

“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.”

The official opening was conducted by Minister of State at the Department of Transport Hildegarde Naughton, TD, and attended by Tom Kelly, Divisional Manager – Cleantech, Electronics and Life Sciences at Enterprise Ireland.

“Disruptive innovation, like VERSONO’s, can enable small companies to build businesses capable of competing – and even leading – in global marketplaces,” Minister Naughton said.

“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.”

Main image at top: Minister Hildegarde Naughton opens the expanded Galway facilities of Versono Medical

John Kennedy
Award-winning editor John Kennedy is one of Ireland's most experienced business and technology journalists.