Xtricate Medical

WestBIC is an Enterprise Ireland partner providing hands-on startup support, funding readiness and investment preparation for early-stage founders in the west of Ireland.

Xtricate Medical is a Galway based medical device company operating for almost three years and is focused on redefining single session treatment of venous thromboembolism (VTE). Backed by world-renowned clinical key opinion leaders (KOLs) and a deep insight into current market dynamics, Xtricate is developing a fresh, all-encompassing novel venous clot removal platform designed to address critical limitations in existing solutions.

Key supports received during start-up process & the role WestBIC played

Xtricate Medical secured full Pre-Seed Startup (PSSF) funding from Enterprise Ireland following completion of the supportive New Frontiers programme at the Atlantic Technological University (ATU) Galway. At pre-seed stage, the company has been sharply focused on generating compelling pre-clinical evidence of device efficacy, usability, and safety - evidence that has very recently been acquired. WestBIC has been instrumental in accelerating investor readiness through strategic support of the outstanding key activities (incl. Prep4Seed, financial modelling, and grant applications), significantly compressing overall timelines. 

Words of advice for new start-ups

Stay obsessed with the unmet need and be ruthless about adapting the solution. Listen to the right people early, often, and without bias. A sense of humour within a team goes a long way, especially in more difficult times.

Future Plans

Xtricate Medical has developed advanced prototypes (with regulation/key milestones in mind) that have recently completed successful pre-clinical explorative studies, demonstrating targeted efficacy, ease of use, and safety. Subsequent feedback from leading clinical KOLs has been very positive. A favourable European Patent Office PCT application search report and written opinion has recently been obtained. With these early stage technical and pre-clinical milestones achieved, Xtricate is well positioned for investment to scale the team and accelerate the path to FDA approval (circa. 2029).