Neuromod Devices Ltd.
- Industry
- Medical Technology
- Founded Year
- 2010
- Headquarters
- Dublin, Ireland
- Employee Count
- 72
Key People
- Dr. Ross ONeill PhD MBA - Founder & CEO
- Prof. Brendan Conlon ENT - Chief Medical Officer
- Dr. Hubert Lim PhD - Chief Scientific Officer
- Florian Elsaesser - Chief Finance Officer
- Diarmuid Flavin - Chief Operating Officer
- Derek Madden CPA CTax - Vice President, Finance and Corporate Governance
- Caroline Hamilton BSc (Aud) MSc (Neuro) - Audiology Director
- Eric Timm - President, Global Commercial Operations & Chief Executive Officer, Neuromod USA
- Stephanie Glowacki - Chief Financial Officer, Neuromod USA
- Tish Ramirez - Chief Commercial Officer, Neuromod USA
- Tom Maher - General Counsel
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with extensive backgrounds in medical technology and business management.
The leadership includes individuals with significant experience in the MedTech industry, such as Dr. Ross ONeill, who founded Neuromod in 2010, and Dr. Manus Rogan, Chairman, with a background in venture capital investment in life sciences. This depth of experience enhances the company's strategic direction and operational execution.
- Clinical Need
-
Aspect: Very Strong
Summary: Tinnitus affects a significant portion of the global population, with limited effective treatment options available.
Tinnitus impacts approximately 15% of the global adult population, representing a considerable unmet medical need. Neuromod's Lenire device offers a novel, non-invasive treatment option, potentially improving quality of life for millions of sufferers.
- Competition
-
Aspect: Somewhat crowded
Summary: The neuromodulation market includes several established players, but specific competition in tinnitus treatment is less intense.
Major companies like Medtronic, Abbott, and Boston Scientific dominate the neuromodulation market. However, Neuromod's specialization in tinnitus treatment with Lenire differentiates it within this competitive landscape.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing and clinically validating a novel neuromodulation device for tinnitus presents moderate technical challenges.
The development of Lenire involved integrating auditory and tongue stimulation to modulate neural activity effectively. While technically demanding, the successful completion of large-scale clinical trials indicates that these challenges have been effectively addressed.
- Patent
-
Aspect: Strong
Summary: Neuromod has developed and patented a bimodal neuromodulation technology for tinnitus treatment.
The company's patented technology underpins its Lenire device, providing a competitive edge and potential barriers to entry for competitors in the tinnitus treatment market.
- Financing
-
Aspect: Well-funded
Summary: Neuromod has secured significant funding from reputable investors to support its commercialization efforts.
The company closed a 10 million financing round in March 2025, led by existing investors Fountain Healthcare Partners and Panaks Partners, to accelerate commercialization in the USA and Europe.
- Regulatory
-
Aspect: 510k/PMA + Reimbursement
Summary: Lenire has received FDA approval and is available through various clinics in the USA and Europe.
Following FDA approval in March 2023, Lenire is now available in over 100 clinics across the USA and in 14 European countries, indicating strong regulatory progress and market acceptance.
Opportunity Rollup
- Odds of Success
- 3.45
- Peak Market Share
- 4.5
- Segment CAGR
- 8.51%
- Market Segment
- Neuromodulation Devices
- Market Sub Segment
- Tinnitus Treatment Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.22 |
| 2 | 0.68 |
| 3 | 1.58 |
| 4 | 3.15 |
| 5 | 4.50 |
Key Takeaway
Neuromod Devices Ltd. is well-positioned to address the significant unmet need in tinnitus treatment with its innovative Lenire device, supported by strong leadership, solid funding, and favorable market dynamics.