Participated · Series B · May 2025

Azafaros is a clinical-stage company developing disease-modifying therapeutics for rare lysosomal storage disorders, leveraging science from Leiden University and Amsterdam UMC. Its lead asset, nizubaglustat, is an orally available, brain-penetrant small molecule with a dual mode of action targeting CNS-involved GM1/GM2 gangliosidoses and Niemann-Pick disease Type C (NPC). Nizubaglustat has received multiple regulatory designations, including Orphan Drug Designations in the US and EU, Rare Pediatric Disease Designations, Fast Track status in the US, and an Innovation Passport from the UK MHRA. The company plans to initiate two Phase 3 pivotal studies for nizubaglustat (NPC and GM1/GM2) later this year and intends to expand its pipeline into additional indications. Azafaros was founded in 2018 and is led by an experienced team focused on rapid development and commercialization for rare genetic diseases. The recently completed oversubscribed financing strengthens its financial position to execute these clinical plans. Azafaros develops orally available small‑molecule therapeutics (azasugars) aimed at disease modification in rare genetic metabolic disorders, initially targeting lysosomal storage diseases. The company holds an exclusive license from Leiden University and Amsterdam UMC to a library of novel patented compounds discovered by researchers including Professors Hans Aerts, Hermen Overkleeft and Stan van Boeckel. Its proprietary lead compound, AZ‑3102, is an oral azasugar that interferes with glycolipid metabolism and exerts a dual mode of action on key disease pathways. Azafaros says it is advancing the lead program toward first‑in‑man studies while expanding its discovery efforts to broaden the pipeline into other rare metabolic diseases. The Series A financing provides capital to build the organization and expand the executive team to support these development plans. No operating revenues or user metrics are disclosed in the article.

Led · Equity · Mar 2025

Perfuze develops next-generation catheter-based aspiration technology to treat acute ischemic stroke, with a proprietary platform designed to maximize clot removal efficiency and simplify procedures. The company’s Zipline™ Access Catheters, cleared by the FDA via 510(k), are engineered to improve trackability and deliver large (070) and superbore (088) aspiration catheters. Perfuze has initiated a Limited Market Release in U.S. Comprehensive Stroke Centres and is rolling out the Zipline™ alongside its Millipede™ catheters. The company is headquartered in Galway, Ireland, and emphasizes faster, easier navigation to accelerate reperfusion and improve clinical outcomes. Recent funding will support the U.S. Limited Market Release, ongoing clinical programs, and R&D to further enhance its stroke-treatment portfolio. Perfuze develops super-bore diameter aspiration catheter technology (the Millipede System) intended to navigate complex neurovascular anatomy and enable fast, complete clot removal in acute ischemic stroke. The company holds CE Mark approval for its first device, Millipede 088, and has treated its first cohort of patients. Proceeds from the Series A will fund the next stage of U.S. clinical study and regulatory clearance of the Millipede System, support ongoing product development, and initiate commercialization. Perfuze’s pipeline is focused on devices designed to shorten procedural times and improve clinical outcomes in large vessel occlusion stroke. The company was founded in 2018 by Wayne Allen and Liam Mullins and is based in Galway, Ireland. Perfuze is developing the Millipede platform, a next-generation catheter-based technology intended to treat acute ischemic stroke. The technology aims to deliver superior clinical outcomes in shorter procedural times, providing safe, cost-effective therapy. The company closed a €3 million seed investment to facilitate further development of the Millipede platform. Perfuze was founded in 2018 by Wayne Allen and Liam Mullins, who together have over 30 years of medtech experience. The company is based at the Business Innovation Centre on the campus of the National University of Ireland, Galway and is relocating to the IDA Business Park in Dangan, Galway.

Participated · Series A · Jan 2025

Coave Therapeutics is a genetic medicines company based in Paris that develops technologies to improve genetic medicine delivery. Its proprietary ALIGATER™ platform is designed to enhance targeting, specificity, efficacy and manufacturability of genetic medicines. The company is focused on overcoming gene therapy delivery challenges to extra-hepatic tissues and is building a pipeline targeting CNS, neuromuscular and eye diseases. Led by CEO Rodolphe Clerval, Coave positions ALIGATER as a platform with broad clinical applications. The company raised €32M in a Series A to advance the ALIGATER platform. Emmanuelle Coutanceau from Novo Holdings and Jean Francois Morin from Bpifrance will join Coave’s board of directors in connection with the financing. Coave Therapeutics develops targeted genetic medicines using its proprietary ALIGATER™ platform, which chemically modifies AAV capsids or lipid nanoparticles to improve efficacy, safety, and manufacturability. The company’s conjugated vectors (coAAV) enable targeted delivery to the central nervous system and the eye, achieving improved transduction and biodistribution across species at low doses. Its lead disclosed program in the article, CTx-TFEB, is a coAAV-delivered TFEB gene therapy designed to promote autophagy and clear toxic protein aggregates in neurons as a potential pan-ALS treatment. Coave recently received grant funding from the ALS Association to advance CTx-TFEB through preclinical proof-of-concept and aims to establish robust preclinical data to support a clinical transition. The company is headquartered in Paris, France and states its pipeline targets both rare and prevalent neurodegenerative and ocular indications. Coave is backed by unnamed international life sciences investors mentioned in the company description. Coave Therapeutics is a clinical-stage biotech advancing gene therapies for rare ocular and CNS diseases using its AAV-Ligand Conjugate (ALIGATER) platform. Its lead candidate, CTx-PDE6b, is a first-in-class AAV-based gene therapy designed to deliver a full-length functional PDE6b gene for PDE6b-associated retinitis pigmentosa and is currently in a Phase I/II trial. The company has entered a licensing and co-development partnership with Théa Open Innovation to advance CTx-PDE6b through clinical development and commercialization in Europe and adjacent territories. Under the agreement Coave will co-develop the program with Théa and share development costs while retaining commercialization rights outside the partner territories, including the US. Financially, Coave will receive an upfront payment and an equity investment of €10 million and is eligible to receive up to €65 million in development, regulatory and commercial milestone payments, plus double-digit royalties on net sales in licensed territories. Coave is headquartered in Paris and is backed by investors including Seroba Life Sciences, Théa Open Innovation, eureKARE, Fund+, Omnes Capital, V-Bio Ventures, Kurma Partners, Idinvest, GO Capital and Sham Innovation Santé/Turenne. Coave Therapeutics, led by CEO Rodolphe Clerval and based in Paris, is advancing targeted gene therapies using its AAV-Ligand Conjugate (ALIGATER) platform to enhance AAV delivery and transduction. The company is progressing a pipeline that includes the lead clinical program CTx-PDE6b, currently in a Phase I/II trial, and preclinical candidates such as CTx-GBA1 (Parkinson’s disease and Gaucher disease) and CTx-ABCA4 (Stargardt’s disease). Coave will use proceeds to push CTx-PDE6b toward pivotal trials, further develop the ALIGATER platform, advance new preclinical coAAV programs in rare CNS and ocular diseases, and seek partnerships to accelerate clinic entry. The company is clinical-stage and focused on producing targeted gene therapy products via proprietary chemical conjugation of AAV vectors. Financially, the company has raised a total of €33.1M following the Series B expansion.

Participated · Series C · Jan 2025

Deciphex, founded in 2017 and headquartered on Dublin City University’s Alpha campus, offers two core products: Diagnexia, which links a global pool of subspecialty pathologists for rapid case turnaround, and Patholytix, which streamlines preclinical safety assessments in drug development. These platforms collectively manage more than 97,000 cases per year through a network of 250+ pathologists. The company employs roughly 220 people across sites in Dublin, Exeter, Oxford, Chicago and Toronto, and it already serves customers in the EU, UK, US, Canada and Japan. Deciphex’s technology focuses on replacing manual, repetitive histopathology processes with AI-driven workflows to deliver faster, more reliable diagnoses. The firm aims to become the leading histopathology reporting provider in the UK by 2027 while simultaneously building a significant U.S. presence. Recognition of its execution includes being named the Irish Medtech Association’s Medtech Company of the Year in 2023. Recent financings—€31 m Series C equity followed by €15 m in venture debt—provide resources for continued international expansion.

Participated · Series B · Oct 2024

ShiraTronics develops a Migraine Therapy System that delivers neurostimulation intended to reduce headache days and attack severity and improve quality of life for chronic migraine patients. The company reported encouraging reductions in headache days, decreased migraine severity, and improved quality-of-life scores in its first-in-human pilot study. ShiraTronics received Breakthrough Device designation from the FDA's CDRH in 2021. It is now running an FDA-approved pivotal trial (RELIEV-CM2), a multi-center, blinded, randomized, sham-controlled study targeting patients who have failed current medical therapies. The company plans to use new funding to support that pivotal trial, pursue FDA premarket approval, and fund the initial commercial launch of its therapy. Rob Binney serves as CEO and is leading the company through these regulatory and commercialization milestones. ShiraTronics is a Brooklyn Park, Minnesota-based private medical device company focused on an innovative therapy for migraine headaches. The company is developing and clinically testing a neuromodulation technology as its core product. ShiraTronics was spun off from NuXcel, an electrical medical device accelerator. The company is led by President and CEO Lynn Elliott and co-founder and Chairman Mudit K. Jain, PhD. It completed an additional $3M Series A, bringing the Series A to $36M, and intends to use the funds to further accelerate its path to market. ShiraTronics is a Minneapolis-based private medical device company developing an innovative neuromodulation approach to treat migraine headaches. The company is focused on developing and clinically testing its neuromodulation technology. ShiraTronics was seeded in 2019 as a spin-off from NuXcel, a medical device accelerator managed by co-founder Mudit K. Jain, PhD, and Lynn Elliott. Lynn Elliott joined as President and CEO, with Mudit K. Jain serving as co-founder and Chairman of the Board. Prior to the Series A the company was backed by Strategic HealthCare Investment Partners (S.H.I.P.). In October 2019 ShiraTronics completed a $33M Series A financing to advance its clinical development.