Perfuze announced today that it has closed a €22.5 million Series A investment round—the proceeds from which will be used to drive the next stage of a US clinical study and regulatory clearance of its Millipede system. The funds will also be used to support ongoing development of new products and to initiate commercialisation of its technology.
The Series A funding was led by new investors LSP, investing from its LSP Health Economics Fund 2, and Seroba Life Sciences. The round was also supported by new investor SV Health Investors, investing from its Medtech Convergence Fund, and existing investors Earlybird, the HBM-MedFocus Fund, Enterprise Ireland and a syndicate of Irish business veterans and stroke physicians, according to a Perfuze press release.
With the closing of this Series A financing round, Anne Portwich, partner at LSP, and Daniel O’Mahony, partner at Seroba Life Sciences, will join the Perfuze board of directors, while Megan MacDonagh, senior associate at SV Health investors, will join as a board observer.
Wayne Allen, CEO of Perfuze, said: “We are delighted to have completed our Series A financing with such experienced investors, and this capital facilitates our continued growth and development. We believe that the Perfuze Millipede system is the next wave of thrombectomy technology in the rapidly growing stroke market and has the potential to positively impact the lives of thousands of stroke patients.”
According to the World Health Organization (WHO), stroke is the second leading global cause of death and a leading cause of disability, the release adds. Perfuze’s next-generation, catheter-based aspiration technology for the treatment of large vessel occlusion (LVO) acute ischaemic stroke aims to provide superior clinical outcomes in shorter procedural times, resulting in safe, cost-effective therapy.