Galway medtech firm raises €6.4m for stroke prevention device

Notable investors contributed to the Ceroflo medical device company

Chloe Brown, Ceroflo chief executive, with one of the stents the company claims will revolutionise stroke treatment. Picture: Andrew Downes

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.