According to a report by ECO, the funding raised will be used to complete clinical trials in Europe and the US and accelerate the expansion of its R&D team, while the company aims to hire up to 42 people over the next five years.
“Our mission is to revolutionise the healthcare user experience. We do this by creating medical devices with a patient-first approach and focusing on the needs that truly matter to patients. This funding round will allow us to complete clinical trials of our innovative Lily device and accelerate its market launch and patient impact in 2024″, said Bárbara Oliveira, co-founder and CTO of Luminate Medical.
“In addition to achieving these goals, we continue to expand our world-class R&D team in Europe, with several positions available in engineering, regulation and quality. We are actively looking for candidates in Portugal who want to accelerate their career in biomedical engineering and help make our vision of patient-centred cancer care a reality.”
Luminate Medical currently employs nine people in R&D and “aims to recruit up to 42 people over the next five years as we begin to develop additional products to mitigate more chemotherapy side effects beyond hair loss. These hires will be distributed across the Sales, R&D, Software, Clinical and Regulatory areas, so there is enormous potential for distributed work models, allowing us to recruit substantially in Portugal”, said Bárbara Oliveira.
Created in 2018 by Portuguese researcher Bárbara Oliveira, Professor Martin O'Halloran and Aaron Hannon when they were doing medical device research at the National University of Ireland, Luminate Medical was, in 2021, funded by the American accelerator Y Combinator and, later by the Disruptive Technological Innovation Fund of Ireland.