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UCC spin-out awarded €2.5million to advance blood flow treatment product
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A new product designed to restore blood flow to the extremities following an arterial blockage has been awarded a €2.5 million research grant from the recent round of Enterprise Ireland Disruptive Technologies Innovation Fund (DTIF).
Developed by UCC spin-out company ProVascTec, PulseCLTI will offer a new treatment solution for patients suffering from critical limb ischemia, which is a severe blockage in the arteries that can lead to amputation or limb loss. PulseCLTI combines the novel properties of stem cells with a proprietary, patent protected delivery system to create a local bypass of the blockage and restore blood flow to the affected limb. The development of PulseCLTI is led by ProVascTec, with two DTIF consortium partners – Prof. Subrata Ghosh at UCC’s School of Medicine and Arrotek Medical Ltd., Sligo.
Minister for Enterprise, Tourism and Employment Peter Burke, TD and Minister for Further and Higher Education, Research, Innovation and Science James Lawless, TD, announced funding of a €33.1 million to an additional 8 new projects under call seven of the DTIF.
The funding awarded to PulseCLTI will advance the development of the product through extensive prototype development, preclinical testing and regulatory approval processes up to readiness for clinical trials.
Peripheral Artery Disease (PAD) leading to blood vessel obstruction in the lower limbs is a prevalent disease in society. There are 260 million PAD patients globally, with 40% of these at risk of developing Chronic Limb-Threatening Ischemia (CLTI), which can lead to gangrene or require amputation.
ProVascTec is a Cork-based spin-out from UCC and is located at the UCC Gateway Incubation Hub. ProVascTec’s underlying technology was invented and developed by Professor Noel Caplice, ProVascTec’s Chief Scientific Officer. Professor Caplice is also Chair of Cardiovascular Sciences at UCC. Dr Holger B. Müller, CFA, CEO & Co-Founder of ProVascTec joined the company at inception and has a track record as an innovation manager in the pharmaceutical industry and start-ups.
Commenting on the news, Holger Müller, CEO ProVascTec said “Receiving funding from DTIF is a huge testament to ProVascTec’s completely novel approach to solving critical limb ischemia, and also speaks to the fantastic capability base that is available in Ireland for setting up consortia that enable the development of novel approaches.”
Professor Noel Caplice, CSO ProVascTec added: “This is a great boost to our efforts to translate a cutting-edge device technology with a state of the art stem cell approach to the clinic, where the medical need is great.”
Professor Subrata Ghosh, UCC commented “Targeted cellular therapy for renewing vasculature will be advanced by UCC’s Imaging Mass Cytometry platform, the only such system in Ireland. This will help select the optimum PulseCLTI therapy.”
Dr Sally Cudmore, Director of UCC Innovation welcomed the announcement: “Congratulations to UCC spin-out company ProVascTec industry partner Arrotek Medical Ltd and UCC’s School of Medicine on receiving €2.5million to develop the PulseCLTI product. The DTIF funding plays a key role in supporting the creation of life-changing technologies and securing the future of Ireland’s research and innovation ecosystem.”