Galway medtech start-up raises €3 million for next gen stroke treatment

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The Galway based medtech start-up Perfuze has secured €3 million in investment funding to develop a next generation technology to treat acute ischemic stroke.

According to the World health Organisation, stroke is the second leading cause of death globally, and the leading cause of disability.

An acute ischemic stroke occurs when a blood vessel in the brain is blocked by a clot, which Perfuze are finding a new way to tackle through their Millipede technology.

Millipede is highly flexible catheter system which aims to deliver better clinical outcomes with shorter procedures.

This fundraising round was led by the European venture capital investor Earlybird to further develop Perfuze’s Millipede platform.

Earlybird invested from its Health Tech Fund and was joined by MedFocus, investing from its HBM-MedFocus Fund.

Perfuze also secured financial support from Enterprise Ireland  a syndicate of Irish medical device sector veterans and physicians.

“Perfuze has a technology with the potential to significantly improve outcomes for stroke patients,” says John Yianni, Partner at Earlybird.

“We are delighted to offer our financial and commercial support in helping this exciting company grow and get its life-saving technology to market.”

Perfuze was founded in 2018 by Wayne Allen and Liam Mullins, who have 30 years of experience in the medtech sector between them.

The company is currently based at the Business Innovation Centre at NUI Galway and is in the process of moving to new headquarters at the IDA Business Park in Dangan.

CEO of Perfuze Wayne Allen says, “We are delighted to have completed our seed round financing with such reputable investors and look forward to working together to accelerate the growth and value of Perfuze.”