Ceroflo raises €6.4 million to aid progress of novel ICAD stroke treatment
Summary
Irish medical device firm Ceroflo announced today that it has raised 6.4 million in investment-round funding, which will be used to advance development of the companys SubMax devicea novel stent intended to revolutionise intracranial atherosclerotic disease (ICAD) treatments. It is designed to gently increase vital blood flow to the brain while reducing the risks associated with first-generation devices, including haemorrhage and stroke.Last November, a consortium led by Cerofloincluding manufacturing firm Advant Medical and the Medical and Engineering Technologies Centre at Atlantic Technological University (Galway, Ireland)secured 3.4 million from the Irish Department of Enterprise, Trade and Employments Disruptive Technologies Innovation Fund (DTIF).Based in Galway City, Ireland, Ceroflo brings together a team from the Irish medical device industry that includes its co-founder and chairman Eamon Brady; co-founder John ODea; chief executive officer (CEO) Chloe Brown; chief technology officer Brendan Casey; and advisor John OShaughnessy. Other company co-founders include leading stroke interventionists Tommy Andersson (Karolinska University Hospital, Stockholm, Sweden), Leonard Yeo (National University of Health Singapore, Singapore) and Paul Bhogal (Royal London Hospital, London, UK).Ceroflo is developing an innovative stent device to address ICAD, the next frontier in the treatment and prevention of stroke, said CEO Brown. It will also allow us to provide a platform to support further US and Japanese regulatory studies.Ceroflo [is] approaching a critical unmet clinical need for the millions of patients at risk of an acute stroke from ICAD, Andersson added. Paul, Leonard and I identified a unique, novel technology solution and engaged a highly experienced team of industry professionals to create Ceroflo.