OneProjects, an irregular heartbeat imaging system developer assisted by two Irish universities, will use the cash to pursue commercialisation in the US.

OneProjects, an Ireland-based heart arrhythmia imaging technology developer aligned to Trinity College Dublin and National University Ireland (NUI) Galway, has completed an €11m ($12.4m) series A round co-led by spinout-focused University Bridge Fund, Silicon Republic has reported.

University Bridge Fund, managed by Atlantic Bridge, co-led with LSP Health Economics Fund 2, a medical device-focused fund run by private equity firm Life Sciences Partners, and was joined in the round by state enterprise support agency Enterprise Ireland and assorted angel investors.

Founded in 2017, OneProjects is working on a technology platform to help treat heart arrhythmias such as atrial fibrillation, a condition with multiple causes that increases the chances of blood clots, stroke and heart failure.

OneProjects’ platform, dubbed Verafye, embeds sensors within catheter tubes inserted into the patient, extracting real-time imaging data to inform the safest and most-effective course of treatment.

The series A cash is expected to progress development of Verafye on the way to conducting clinical trials that support its commercialisation in the US. OneProjects will also use proceeds to expand the headcount at its offices in Ireland and Germany.

OneProjects was co-founded at NUI Galway-run incubator BioInnovate by its chief executive Fionn Lahart and chief technology officer Christoph Hennersperger, a former senior research scientist at Technical University of Munich.

Following graduation from BioInnovate, the team moved to Trinity College Dublin to receive assistance from Bruce Murphy, associate professor of biomechanical engineering, mechanical and manufacturing engineering.