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2nd October 2018

HBAN’s MedTech Syndicate leads €1.1M investment in Ostoform

HBAN (Halo Business Angel Network), the all-island organisation responsible for the promotion of business angel investment, and a joint initiative of Enterprise Ireland and InterTrade Ireland, today announces that its MedTech Syndicate has led a €1.1 million Series A funding round in medical device start-up, Ostoform. HBAN Angels contributed €280,000, with venture capital investor, SOSV, Enterprise Ireland, and other angel investors making up the rest of the funding round.

Dublin-based Ostoform was set up to address the management of a stoma – a small surgical opening on the surface of the abdomen to divert the flow of waste. A common complaint is irritation, redness and discomfort around the skin caused by leaks of the acidic content contacting the skin. Ostoform has developed the Ostoform Seal with FlowAssist. This is a seal that is secured to the skin around the stoma to effectively guide the acidic stoma output into the ostomy bag, thereby preventing it from contacting the skin. 

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