September 22, 2023
Renew Pharmaceuticals Ltd, Athlone, Co Westmeath, IRELAND; Perfusion Tech ApS, Læssøesgade 20, DK-2200 Copenhagen DENMARK: Renew Pharmaceuticals Ltd (Renew) and Perfusion Tech ApS (Perfusion Tech) are pleased to announce the signing of a strategic investment agreement whereby Renew invests in Perfusion Tech. The parties will collaborate to bring to the market advanced AI based technologies for surgeons in the field of Fluorescence Guided Surgery (FGS).
This investment by Renew will help support the continued software development by Perfusion Tech of image analysis software, for real-time quantification and visualisation of tissue perfusion during surgery, utilising FGS techniques. The investment will help support US Food and Drug Administration (FDA) and European Medical Device Regulation (EU MDR) applications planned in 2024. This investment will help bring to the market the much-needed technology, that will allow surgeons to make critical data-driven decisions in real time using fluorescence, which is currently not available.
“Data-driven surgical cloud-based software combined with the unique properties of the fluorescence dye, Indocyanine Green (ICG), will enable surgeons access to an AI platform to support their decision making in real time during their surgeries and drive the standard of care across many surgical applications” said Renew.
Quantification in fluorescence-guided surgery that will be made possible using Perfusion Tech’s software approach, together with Indocyanine Green (ICG) fluorescence dye, will enhance surgical precision by providing objective measurements of tissue perfusion, in real-time, which ultimately will help improve patient outcomes and reduce post-operative complications.
“We are pleased to enter into this strategic investment with Renew, which through their Diagnostic Green business, helps us to access the Fluorescent Guided Surgery market worldwide”, says Pernille Singer, CEO, Perfusion Tech. “We are excited to accelerate development and bring this much needed technology to the market”.
About Renew Pharmaceuticals Ltd
Renew Pharmaceuticals Ltd, and its associated company Diagnostic Green is the leading provider of Indocyanine Green for Injection, USP in North America, which is known as Verdye across the EMEA. Our vision is to ensure that fluorescence imaging becomes the standard in tissue visualisation worldwide, to help improve clinician outcomes, minimise procedure complications and reduce overall healthcare costs.
https://diagnosticgreen.com
About Perfusion Tech ApSPerfusion Tech ApS develops, manufactures, and markets image analysis software aimed at improving surgical procedures. Perfusion Tech’s software assists the surgeon in making informed decisions on tissue perfusion, based on objective, quantitative perfusion data from fluorescence guided surgery.
www.perfusiontech.comPress contacts:
Renew: Head of Marketing, Comms and EMEA Sales, Fidelma Callanan +353 87 186 3688
Perfusion Tech: Chair, Henrik Christensen, +45 40 61 17 77 or CEO Pernille Singer, +45 53 64 64 56
