Medtech Company Perfuze Raises €3 Million in Seed Round
Perfuze, a medical device company developing next-generation catheter-based technology to treat acute ischemic stroke, has closed a €3 million seed investment round. The funding facilitates the further development of the Millipede platform technology.
According to WHO, stroke is the second leading global cause of death and a leading cause of disability. An ischemic stroke occurs when a blood vessel in the brain is blocked by a clot, preventing blood flow. Perfuze’s technology aims to provide superior clinical outcomes in shorter procedural times, resulting in safe, cost-effective therapy.
The funding was led by Earlybird, one of Europe’s largest venture capital firms, investing from its Health Tech Fund. Earlybird was joined by MedFocus, investing from its HBM-MedFocus Fund. Other investors include Enterprise Ireland and a syndicate of Irish medical device sector veterans and stroke 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.”
The Irish company was founded in 2018 by Wayne Allen and Liam Mullins. The founders have over 30 years combined medtech experience within start-up and large corporations.
Wayne Allen, CEO of Perfuze, 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.”
Perfuze was founded in 2018 by Wayne Allen and Liam Mullins. The founders have over 30 years combined medtech experience within start-up and large corporations. Perfuze is currently located in the Business Innovation Centre on the campus of the National University of Ireland, Galway, and is in the process of relocating to the IDA Business Park in Dangan, Galway. www.perfuze.com
Earlybird is a venture capital investor focused on European technology companies. Founded in 1997, Earlybird invests in all growth and development phases of a company. Amongst the most experienced venture investors in Europe, Earlybird offers its portfolio companies not only financial resources, but also strategic and operational support as well as access to an international network and capital markets. Earlybird manages different funds with focuses on digital technologies in Eastern and Western Europe as well as health technologies. With over EUR 1 billion under management, seven IPOs and 23 trade sales, Earlybird is one of the most successful venture capital firms in Europe.
MedFocus is a group of funds dedicated to accelerating the development of new, breakthrough medical technologies. Founded in 2000 and based in Irvine, California, the family of four funds have invested in 35 companies of which 21 have been acquired, entered into corporate transactions or become public, 6 new companies have been spun out and 12 companies are currently active. A number of these firms were founded and incubated by MedFocus and are based on advanced therapies for the treatment of cardiovascular, neurovascular and orthopedic diseases.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190129005014/en/