Galway-based medical device startup Vivasure Medical has raised just over €16m to commercialise its PerQseal technology, which can close large arterial holes without the need for sutures or major surgery.

The funding round was led by LSP (Life Sciences Partners) of The Netherlands and co-led by Evonik Venture Capital (Germany), alongside Panakès Partners (Italy), with returning Series A and B investors led by Fountain Healthcare Partners, Ireland.

Founded in 2008, Vivasure Medical has so far raised around €33m in funds for its technology.

The PerQseal device has been successfully evaluated in clinical studies, with patients treated in four European countries, achieving 97% device technical success with no major device-related complications.

Gerard Brett, co-founder and CEO of Vivasure Medical, explained: “The Vivasure closure device is designed to be easy to use, allowing the surgeon and interventional physician to provide a complete repair at the access site, without leaving metal implants, sutures, or exogenous tissue behind.

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“Our goal is to facilitate improved therapeutic results for patients over the open-surgery alternative, faster recovery times, and cost savings for the healthcare system.”

An arteriotomy is a puncture hole in a vessel in the groin that provides access to arteries for catheter-based procedures. The proprietary Vivasure closure device offers physicians an easy-to-use and fully percutaneous (through the skin) alternative to surgical cut-down and sutured repair via a three- to five- centimetre incision for large-bore arteriotomies.