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Ireland's Atlantic Therapeutics raises €28M to enter US market

Ireland's Atlantic Therapeutics Ltd. said Jan. 7 that it raised €28 million to help it enter the U.S. and other markets.

The series B funding round, led by Life Sciences Partners BV through LSP Health Economics Fund 2, will also enable Atlantic Therapeutics to launch new products and seek new clinical applications.

Andera Partners, through BioDiscovery 5 FPCI, and Atlantic Bridge Ventures, through its China-Ireland Growth Technology Fund, joined the financing.

Existing investors Seroba Life Sciences Ltd., which is also based in Ireland, and Berlin's Earlybird Venture Capital GmbH & Co. KG, further invested in Atlantic Therapeutics.

Privately held Atlantic Therapeutics markets Innovo, a medical device recently approved by the U.S. Food and Drug Administration to treat incontinence.