EQT Life Sciences

LSP leads EUR 22.5 million (USD 25 million) series A in Irish medical device company Perfuze

Perfuze develops catheter-based technology for treating acute ischemic stroke.

Financing was led by new investors LSP and Seroba Life Sciences and joined by new investor SV Health and existing investors.

LSP, one of the leading life sciences and health care investors, today announced that Perfuze, a medical device company developing next-generation catheter-based aspiration technology to treat large vessel occlusion acute ischemic stroke, has closed a €22.5 million Series A investment round. 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 Health, the HBM-MedFocus Fund, Enterprise Ireland and a syndicate of Irish business veterans and stroke physicians. Proceeds from the financing will be used to drive the next stage of 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 commercialization of its technology.

With the closing of the 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 and Megan MacDonagh, Senior Associate at SV Health Investors will join as a Board Observer.

"Perfuze has a technology with the potential to significantly improve outcomes for stroke patients,” says Anne Portwich, Partner at LSP. “We are delighted to support the company and its management team to expand as it pushes towards getting its life-saving technology to market.”

Wayne Allen, CEO of Perfuze, says: “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 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.

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