Phagenesis, a Manchester-based medical device company specializing in the treatment of swallowing disorders, has secured £33 million in a Series D funding round. EQT Life Sciences and Sectoral led the funding round, while new investors Northern Gritstone, British Patient Capital, and Aphelion joined. The investment will primarily support the commercialization of Phagenyx® in the U.S. and deepen commercialization in Europe. The funding will also support clinical trials, regulatory activities, and research and development of pipeline products.
According to Northern Gritstone CEO, Duncan Johnson, Phagenesis is “an example of a great team building on the amazing science and technology that comes from the North of England exemplifying Northern Gritstone’s ‘profit with purpose’ philosophy.” British Patient Capital’s Managing Director Ian Connatty stated, “Phagenesis has built a leading solution for patients suffering from dysphagia. Their technology has the ability to deliver great results for patients whilst also delivering healthcare savings. We are delighted to support them as they take the next steps in their growth journey.”
Phagenesis CEO Reinhard Krickl noted that raising $42 million during the current economic environment was remarkable and recognized the huge unmet medical need of early treatment of swallowing dysfunction and the game-changing potential of Phagenyx® neurostimulation treatment. Phagenesis will invest in exceptional international talent to scale up global customer outreach while supporting passionate clinicians who want to bring its therapy to millions of patients suffering from dysphagia every year.
Phagenesis, a Manchester-based medical device company specializing in the treatment of swallowing disorders, has secured £33 million in a Series D funding round. EQT Life Sciences and Sectoral led the funding round, while new investors Northern Gritstone, British Patient Capital, and Aphelion joined. The investment will primarily support the commercialization of Phagenyx® in the U.S. and deepen commercialization in Europe. The funding will also support clinical trials, regulatory activities, and research and development of pipeline products.
According to Northern Gritstone CEO, Duncan Johnson, Phagenesis is “an example of a great team building on the amazing science and technology that comes from the North of England exemplifying Northern Gritstone’s ‘profit with purpose’ philosophy.” British Patient Capital’s Managing Director Ian Connatty stated, “Phagenesis has built a leading solution for patients suffering from dysphagia. Their technology has the ability to deliver great results for patients whilst also delivering healthcare savings. We are delighted to support them as they take the next steps in their growth journey.”
Phagenesis CEO Reinhard Krickl noted that raising $42 million during the current economic environment was remarkable and recognized the huge unmet medical need of early treatment of swallowing dysfunction and the game-changing potential of Phagenyx® neurostimulation treatment. Phagenesis will invest in exceptional international talent to scale up global customer outreach while supporting passionate clinicians who want to bring its therapy to millions of patients suffering from dysphagia every year.
