The Foundry Innovation and Research 1, Ltd. (FIRE1), was founded in 2013 and is the first European spinout of The Foundry, a highly successful medical device incubator from Menlo Park, California. The company, located in Ireland, focuses on developing a novel remote monitoring device to improve outcomes for patients suffering from an increased risk of heart failure. Early detection enables a timely intervention and adjustment of pharmacotherapy, thus avoiding hospitalisation, improving quality of life and lowering health care costs.
FIRE1 is active in a market with growing unmet needs, as cardiac disease is currently the world’s leading cause of death.
The current financing will be used to complete a first-in-human study as well as for the submission of an IDE.