LSP leads €22.5 million ($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  

 

Amsterdam, the Netherlands, 9 February 2022 – 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.

 

About Perfuze
Based in Galway, Ireland, Perfuze has developed super-bore diameter aspiration technology that has the capability to navigate the complex neurovascular anatomy. Perfuze’s pipeline of products is designed to facilitate fast, complete clot removal during acute ischemic stroke. Perfuze has CE Mark approval for its first device, Millipede 088 and has successfully treated its first cohort of patients. Perfuze was founded in 2018 by Wayne Allen and Liam Mullins, who have over 35 years combined medtech experience. This is the second medtech company they have co-founded; the previous company, Embo Medical, was acquired by CR Bard in 2016. For more information, please visit perfuze.com.
 
 
About LSP
LSP is a European investment firm providing financing for life sciences and health care companies. LSP’s management has raised over $3.5 billion (€3 billion) and supported the growth of 150 companies since it started to invest in 1988, including signature deals such as Argenx, Crucell and Neuravi. With offices in Amsterdam, Munich and Boston, LSP currently has the possibility to invest through five strategies, each having a distinctive investment scope and a dedicated team: LSP 7 invests in private early- to late-stage drug development and medical technology companies; LSP HEF 2 focuses on private late-stage medical technology companies; the LSP Dementia Fund invests in companies targeting neurodegenerative diseases; LSP Public targets public healthcare companies; and EBAC is LSP’s SPAC exclusively focusing on European biotech. LSP is an active contributor to the global life sciences industry and the European life science eco-system by assuming roles as initiators, founders and board members in various private and public bodies and organizations, for example being founder and board member of the Oncode Institute. For more information: lspvc.com.
 
 

On November 10, 2021, LSP announced that it will join forces with EQT, the largest European and a top-ten global private equity player. The press release can be found here. This transaction is expected to close in Q1 2022. LSP will then be renamed to EQT Life Sciences.

 

For more information please contact:
Anne Portwich, Partner at LSP
+31 (0)20 664 55 00

 

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LSP leads €22.5 million ($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  

 

Amsterdam, the Netherlands, 9 February 2022 – 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.

 

About Perfuze
Based in Galway, Ireland, Perfuze has developed super-bore diameter aspiration technology that has the capability to navigate the complex neurovascular anatomy. Perfuze’s pipeline of products is designed to facilitate fast, complete clot removal during acute ischemic stroke. Perfuze has CE Mark approval for its first device, Millipede 088 and has successfully treated its first cohort of patients. Perfuze was founded in 2018 by Wayne Allen and Liam Mullins, who have over 35 years combined medtech experience. This is the second medtech company they have co-founded; the previous company, Embo Medical, was acquired by CR Bard in 2016. For more information, please visit perfuze.com.
 
 
About LSP
LSP is a European investment firm providing financing for life sciences and health care companies. LSP’s management has raised over $3.5 billion (€3 billion) and supported the growth of 150 companies since it started to invest in 1988, including signature deals such as Argenx, Crucell and Neuravi. With offices in Amsterdam, Munich and Boston, LSP currently has the possibility to invest through five strategies, each having a distinctive investment scope and a dedicated team: LSP 7 invests in private early- to late-stage drug development and medical technology companies; LSP HEF 2 focuses on private late-stage medical technology companies; the LSP Dementia Fund invests in companies targeting neurodegenerative diseases; LSP Public targets public healthcare companies; and EBAC is LSP’s SPAC exclusively focusing on European biotech. LSP is an active contributor to the global life sciences industry and the European life science eco-system by assuming roles as initiators, founders and board members in various private and public bodies and organizations, for example being founder and board member of the Oncode Institute. For more information: lspvc.com.
 
 

On November 10, 2021, LSP announced that it will join forces with EQT, the largest European and a top-ten global private equity player. The press release can be found here. This transaction is expected to close in Q1 2022. LSP will then be renamed to EQT Life Sciences.

 

For more information please contact:
Anne Portwich, Partner at LSP
+31 (0)20 664 55 00

 

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