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.”