Galway based medical device company Perfuze raises €22.5m for stroke treatment device.
Perfuze is developing catheter-based technology to treat acute ischemic stroke by removing blood clots from the brain in a single pass.
The funds will be utilized to advance the next stage of its Millipede catheter-based technology’s clinical trial and regulatory clearance in the United States. The funding will also aid in the development of new goods and the commercialization of the company’s technology.
The Millipede technology developed by the Irish medtech start-up was granted breakthrough device classification by the US Food and Drug Administration in 2019. Medical devices that potentially provide a more effective treatment for life-threatening or profoundly disabling diseases are given this certification.
Perfuze strives to deliver better results in less time, ensuring a safe and cost-effective therapy. According to the World Health Organization, stroke is the second largest cause of death and disability worldwide. An ischemic stroke happens when a clot blocks a blood vessel in the brain, limiting blood flow.
According to Micheál Coughlan, Managing Partner InterSearch Ireland and Global Leader Medical Practice Group InterSearch Worldwide “Perfuze is part of a successful eco-system of entrepreneurial medical device companies operating from the West of Ireland with the potential for a significant impact on the treatment of ischemic stroke globally”.