Tympany Medical seeking to raise in excess of €1.5 million to secure regulatory approval for the product in the US and Europe.
Hearing loss affects more than 500 million people worldwide and surgery is one of the ways the problem can be addressed. However, operating on the complex structure of the ear is a challenge for ENT surgeons.
In 2016, Galway based Dr. Elizabeth McGloughlin along with her Tympany Medical co-founder Rory O’Callaghan set about developing a miniature device that will replace the scopes used by surgeons for the last 50 years.
Tympany’s solution, Otovu is a compact visualisation device that leverages cutting-edge optic and sensor technologies and will revolutionize how ENT surgeons operate and will also allow many more procedures to be carried out in outpatient settings. Tympany Medical will be spun out from @NUI Galway later this year. It has been supported by Enterprise Ireland with an investment of €426,000 under its commercialisation fund.
In 2018, the company won €50,000 in the EU-backed EIT Health Headstart competition for early-stage health service and product ideas. It is now seeking to raise in excess of €1.5 million to secure regulatory approval for the product in the US and Europe. Earlier this week, it was announced that Dr. McGloughlin would represent Galway in the finals of Ireland’s Best Young Entrepreneur at the Google HQ in Sept.