€25m · Other round · Healthtech · Galway, Ireland
Galway-based Neurent Medical has secured a €25m growth-debt facility from Claret Capital Partners. The financing will support commercial expansion of its NEUROMARK system, further investment in sales and marketing, balance-sheet strength and future growth opportunities.
NEUROMARK is a minimally invasive system for treating chronic rhinitis, a condition associated with persistent congestion, runny nose and postnasal drip. The device uses impedance-controlled radiofrequency energy to disrupt hyperactive posterior nasal nerves. Neurent says the procedure is designed to address the nerve signals driving symptoms rather than relying only on ongoing medication.
The debt is separate from Neurent's €62.5m Series C announced in February 2026. That equity round was intended to expand commercial reach, build clinical evidence and advance the product pipeline; the new facility adds financing flexibility while limiting further shareholder dilution.
Commercial access has to turn into procedure volume
For a medical-device company, regulatory clearance and clinical evidence are only part of commercial adoption. Physicians need training, patients need access and payer policy has to support the procedure. Neurent said a 2025 UnitedHealthcare Medicare Advantage policy change removed the relevant radiofrequency-ablation code from an experimental and investigational list, lifting one administrative barrier for eligible patients. The company said the plan covered more than 10 million people, while noting that the update did not itself establish clinical indications for coverage.
That change expands the potential addressable channel, but the commercial work remains operational. Neurent has to convert payer access into physician adoption, procedure scheduling and repeatable patient demand. Sales and marketing investment can support that transition, while the device's clinical evidence and workflow fit determine whether access becomes sustained use.
Debt adds discipline after a large equity round
Pairing a sizeable Series C with growth debt separates two capital needs. Equity can absorb product-development and evidence risk without fixed repayment, while debt can extend the balance sheet for commercial rollout with less dilution. Claret describes the facility as financing for commercial expansion, rather than a new clinical-stage round.
The trade-off is that debt raises the importance of predictable commercial execution. Neurent now has additional resources to build the market around NEUROMARK, but the facility must ultimately be serviced from a business that can scale. The useful proof points will be broader physician adoption, payer-supported access and procedure growth, not simply the amount of capital available.
