Funding to drive U.S. and EU expansion amid strong patient outcomes
Neuromod Devices has closed an oversubscribed €10 million Series B financing round to accelerate commercial growth of its tinnitus treatment device, Lenire. Led by Fountain Healthcare Partners and Panakès Partners, the funds will support expansion across Europe, the U.S., and the U.S. Veterans Affairs system (USVA).
Lenire, FDA-approved in 2023, is now used in 100+ U.S. clinics and 14 European countries, with clinic adoption doubling in the UK and expanding to Sweden. The non-invasive neuromodulation device has shown 91.5% patient improvement in real-world studies, reinforcing its position as a new standard of care for tinnitus.
Neuromod also holds a Federal Supply Schedule contract, enabling access for 2.9 million U.S. veterans, with 35 USVA sites trained and more to follow.
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