Luminate Medical, an Irish medical device company developing devices to eliminate hair loss during chemotherapy announced that it has raised more than $5 million in grant financing and a seed round investment, from investors including Elkstone Capital, SciFounders, and Faber VC.
Luminate is scheduled to treat its first patients this year in Europe and is still confirming the final dates aiming for September/October for a controlled pilot study. Its goal would be to submit for clearance from the FDA to market the device to any patient in the U.S.at the end of 2023.
The company was cofounded when Martin O’Halloran, a professor of medical electronics at National University of Ireland, Galway offered Hannon to work at the Translational Medical Device Lab at the university. Professor O’Halloran was also mentoring a PhD student at the time, Portuguese native Barbara Oliveira, and Oliveira and Hannon were sitting next to each other.
In January of 2020, the three cofounders launched the company with Hannon, originally from Ballina, in the Irish county of Mayo as a CEO, Oliveira originally from Lisbon as a CTO, and Galway native O’Halloran as the chief scientific adviser.
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