Embo Medical

Embo Medical, a medical device company established in 2012, specializes in developing technologies for vascular embolization. The company was founded by Wayne Allen, Colin Forde, and Liam Mullins, who met as Fellows on the BioInnovate Ireland Programme at the National University of Ireland, Galway. This program immersed them in clinical environments, where they directly observed the challenges interventional radiologists faced with existing embolization procedures, inspiring them to create a better solution.

The founders brought together a diverse set of experiences from the medical technology industry. Wayne Allen previously held senior management roles at Synthes Spine, an orthopaedic market leader. Liam Mullins, with a PhD in Biomedical Engineering, had a background in R&D and had led design for a peripheral stent at Veryan Medical. Colin Forde had experience developing medical devices at both startups and large corporations like Medtronic and Creganna-Tactx Medical. The company was a spin-out from the National University of Ireland, Galway, and was based in its Business Innovation Centre.

Embo Medical’s core focus was to address the peripheral vascular embolization market. This medical procedure deliberately blocks blood flow in vessels to treat conditions like cancers, internal bleeding, and aneurysms. The company’s flagship product, named the Caterpillar, was developed as a 'one-shot' embolization device. This contrasted with existing methods that often required multiple coils to be implanted, a time-consuming process with risks of the coils migrating. The Caterpillar was designed for rapid and precise placement, significantly reducing procedure times by over 80% in preclinical studies while ensuring a durable occlusion. The device aimed to combine the benefits of existing coils and plugs into a single, more effective solution.

The company's business model revolved around the development and subsequent commercialization of this proprietary medical device. The primary clients are interventional radiologists and the hospitals they work in. In October 2014, Embo Medical secured approximately €3 million ($3.75M) in a seed funding round. The investment was led by a syndicate including AIB Seed Capital Fund, Irrus Investments, Enterprise Ireland, and the Western Development Commission. This capital was intended to help the company gain regulatory approval, particularly from the FDA in the US, and to scale its operations. In December 2015, the company was acquired by C.R. Bard (later acquired by Becton Dickinson) for a reported $21 million, marking a successful exit for the founders and investors.

Keywords: vascular embolization, peripheral vascular disease, endovascular procedures, medical device, interventional radiology, embolization device, one-shot embolization, C.R. Bard acquisition, Wayne Allen, Liam Mullins, Colin Forde, BioInnovate Ireland, National University of Ireland Galway, embolization coils, aneurysm treatment, cancer treatment, internal hemorrhage, Caterpillar device, MedTech startup, Irish startup