Irish medtech invests €5m in Australian company fighting brain tumours

Co Westmeath-based Renew Health has led a fundraise for Adelaide-based Ferronova

Ferranova is developing a nanoparticle platform to assist surgeons to more accurately locate and remove malignant cells during treatment of gastrointestinal and brain tumours

Renew Health, a Co Westmeath medtech company, has taken a stake in Ferronova as part of an AUS$11 million (€7.2 million) investment for the Australian biotech firm.

The Irish company, which is run by Declan Cassells, has led an AUS$8 million (€5.2 million) capital raise for the Adelaide-based firm. A further AUS$3 million was secured via a grant from the Australian government.

Renew, which is headquartered in Athlone, operates a number of subsidiaries, including ...