Fire1, an Irish company based in Dublin, has raised $120 million (€116 million) to fund clinical trials in the United States for its remote patient monitoring device called Norm. Designed to empower heart failure patients to manage their data from home, Norm aims to improve quality of life and reduce the burden on healthcare systems. Founded a decade ago in California, Fire1 moved its headquarters to Ireland and has raised $213 million in total from 13 investors.
The Series B funding will support a pivotal trial of 800 patients, primarily in the US, over an 18-month period. Following a minimum of 12 months of follow-up, Norm could be commercialized subject to regulatory approval. Fire1 CEO Conor Hanley highlights the significant prevalence of heart failure, affecting one in five people worldwide, with a substantial number of cases in Ireland and the US