Expansion project is supported by Dept of Jobs through Enterprise Ireland
The Minister for Jobs, Enterprise and Innovation Richard Bruton TD today announced that Neuromod will create an additional 50 jobs for Dublin over the coming years. The announcement came as Neuromod launched mutebutton™ a new device for the treatment of Tinnitus. The announcement is as a result of research and development undertaken by Neuromod Devices.
Neuromod Devices was founded by Dr Ross O’Neill in 2010 as a spin-out from Maynooth University to develop innovative neuromodulation technologies for the treatment of unaddressed neurological conditions. The company has developed a stable platform technology for the rapid development and evaluation of innovative neuromodulatory interventions and is certified to the highest international technical medical standards. This core technology will form the basis for a pipeline of new products that address high-value market opportunities.
Neuromod Devices plan to achieve the creation of 50 new jobs over the next 5 years in Dublin. These highly specialized roles will be key in supporting their global growth targets to become a leading global provider of non-surgical neuromodulation treatments for chronic conditions. This project has been supported by the Department of Jobs through Enterprise Ireland.
Mutebutton™ is an innovative, clinically proven, self-administered treatment designed to alleviate the symptoms of chronic tinnitus sufferers, mutebutton™ is the culmination of over four years of research and development since the company was first founded in 2010 by CEO, Dr. Ross O’Neill.
Minister Bruton said: "A key part of our Action Plan for Jobs is turning good ideas into good jobs. Over the past decade we have invested heavily in Government-supported research and innovation – the challenge we have been trying to address in the past three years is to build on that to create commercial ideas and ultimately jobs. Today Neuromod is announcing that it is creating an extra 50 high-end jobs in Dublin as a result of a product it has created through innovation it has carried out – this is a great example of what we are trying to achieve. I congratulate Neuromod on its achievements and with Ross and the team every success in the coming years”.
Dr. Ross O’Neill, Chief Executive Officer of Neuromod Devices Ltd said “I am delighted to announce the launch of a revolutionary new treatment for tinnitus sufferers, a condition which has lacked sufficient treatment to date despite affecting 1 in 10 of us. After four years of research and development, today Neuromod Devices is positioned to meet the unmet needs of tinnitus patients’ globally, with the launch of the mutebutton™ device. I am immensely proud of what we have achieved as a small Irish SME, in just 4 years and this is in no small part thanks to the state support we have received from Enterprise Ireland and the NDRC.”
Caroline Hamilton, Managing Director of The Neuromod Clinic added “In developing the mutebutton™ tinnitus treatment we have always been committed to ensuring the best patient outcomes, which is why I am delighted to also announce the opening of The Neuromod Clinic™. Our vision for the clinic is to establish a new center of excellence for tinnitus treatment in Ireland, going beyond pure medical device sales to offer outstanding end-to-end patient care and support
Michael Moriarity, at Enterprise Ireland said: “Enterprise Ireland’s strategy is to work in partnership with the Irish companies to support their plans for growth and help them win new business in global markets. As an Irish success story, Enterprise Ireland looks forward to continuing to work closely with Neuromod Devices as they seek to establish the mutebutton™ system on the global market and look to expand into new treatments and research. It will now be possible to deliver a new global standard of care for chronic tinnitus suffers and grow their international business to create employment in Ireland.”
Neuromod Devices is headquartered in NovaUCD, the Centre for New Ventures and Entrepreneurs at University College Dublin (UCD). The mutebutton™ device comes on sale from 15th December in Ireland ahead of a wider European launch commencing January 2015. For more product information please visit www.mutebutton.ie