Perfuze Secures €3 Million Seed Funding to Advance Novel Catheter Technology for Acute Ischemic Stroke Treatment

VCBeat (WeChat ID: vcbeat) has learned that on January 29, 2019, Perfuze, a medical device company based in Ireland, announced it had secured €3 million in seed funding. The round was led by Earlybird Venture Capital, with participation from MedFocus and Enterprise Ireland. The funds will be used to further develop its next-generation catheter technology, Millipede, for the treatment of acute ischemic stroke.

It is understood that stroke is the second leading cause of death worldwide and a major cause of disability. Acute ischemic stroke occurs when cerebral thrombi obstruct blood vessels in the brain, impeding blood flow. In 2015, there were 17 million stroke patients globally, approximately 85% of whom suffered from acute ischemic stroke.

In recent years, the incidence of acute ischemic stroke has been rising and affecting increasingly younger populations. In response, Wayne Allen and Liam Mullins founded Perfuze in 2018; both founders bring over 30 years of experience in medical technology.

Currently, Perfuze is developing Millipede, a next-generation catheter technology, with the aim of creating new treatment options for patients with acute ischemic stroke. Millipede is a highly flexible innovative technology designed to achieve better therapeutic outcomes in shorter procedural times, thereby making the treatment process safer and more cost-effective.

Wayne Allen, CEO of Perfuze, stated, “Perfuze’s ability to attract interest from so many renowned investment firms underscores our significant growth potential. We will work closely with our investors to accelerate the development of Perfuze.”

John Yianni, a partner at Earlybird, stated, “Perfuze’s technology can significantly improve treatment outcomes for patients with acute ischemic stroke. This is a life-saving technology that has the potential to save countless lives. We will actively provide Perfuze with financial and commercial support to help bring this technology to market.”

Earlybird, founded in 1997 and headquartered in Berlin, Germany, is one of Europe’s largest and most experienced venture capital firms, managing over €1 billion in assets. The firm operates three independent, specialized investment teams, each focusing on distinct regions and industries. Medical data, diagnostic technologies, and medical devices are among its key investment focus areas.

Medfocus, established in 2000 and headquartered in California, USA, is a private equity firm dedicated to investing in startups engaged in the research and development of novel medical devices. The firm currently manages four funds and has made cumulative investments in 35 startups.

Enterprise Ireland is a government agency in Ireland, established in 1998. The agency is dedicated to promoting the development of Irish startups by providing them with financial support and helping them grow into globally renowned enterprises. To date, the agency has made over 2,500 investments.

(Compiled by Jiao Yanli)