Galway medtech firm raises €6.4m for stroke prevention device

Ceroflo, the medical device company, has raised €6.4 million from a number of investors, including medtech veterans John O’Shaughnessy and Eamon Brady.

The Galway-based company, founded in 2018 by three clinicians, Professor Tommy Anderson, Dr Leonard Yeo and Dr Paul Bhogal, has worked on the development of a new stent device for the treatment and prevention of stroke.

Last year, the firm engaged DHKN, the accounting firm, to lead a €5 million investment round through the Employment Investment Incentive Scheme (EIIS), which allows investors in start-ups to claim tax relief on their investment.