Vetex spun out from NUI Galway in 2015 to develop technology to address the needs identified in the management of venous clots. In December 2020, Vetex reached a major milestone in gaining FDA regulatory approval for its clot removal product ‘ReVene’. The company was acquired by global company Surmodics Inc in a deal worth almost €40m this year that is set to expand Vetex company operations in the Galway area.
The Innovation Office at NUI Galway has supported the company from the outset, managing the licensing process that originally spun out the company and supporting Vetex in protecting its intellectual property to help establish a strong patent portfolio. The Innovation Office has also helped the company in applying for funding and investment and has provided practical support in helping to find appropriate lab and office space at the NUI Galway Business Innovation Centre.