Gilde Healthcare company FIRE1, announced the completion of a $120 million financing round led by new investors Polaris Partners and Elevage Medical Technologies, joined by new investors Sands Capital and Longitude Capital, and existing investors Gilde Healthcare, Andera Partners, Gimv, the Ireland Strategic Investment Fund, Lightstone Ventures, Medtronic, NEA (New Enterprise Associates), Novo Holdings, and Seventure Partners.

The financing provides FIRE1 with the capital to accelerate the company’s mission to transform the lives of millions of people living with heart failure. FIRE1’s Norm heart failure management system offers a groundbreaking approach for patients to manage heart failure. By enabling patients to engage in physician-directed self-management, Norm reduces the burden on healthcare staff, making it easier to keep patients healthier and at home. The funding will enable the company to complete a pivotal clinical trial of the Norm system.

In addition to the financing, FIRE1 announced that it has received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) and has been accepted into the FDA’s Total Product Lifecycle Advisory Program (TAP).

About FIRE1
Headquartered in Dublin, Ireland, FIRE1 is a connected medical device solutions company dedicated to improving outcomes for individuals suffering from chronic diseases. Its mission is to empower millions of people with heart failure to regain their normal lives. The experienced FIRE1 team collaborates with world-leading researchers, clinicians, patients, and payors to alleviate the burden of heart failure. For more information, visit www.fire1foundry.com.

About Gilde Healthcare
Gilde Healthcare is a transatlantic specialist investment firm managing over €2.6 billion across two fund strategies: Venture&Growth and Private Equity. The Venture&Growth fund of Gilde Healthcare invests in fast growing companies active in digital health, medtech and therapeutics, based in Europe and North America. The Private Equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe. For more information, visit the company’s website at www.gildehealthcare.com.