Phagenesis raises $42m in Series D funding to scale US commercialisation of its swallowing disorder therapy.
The equity round was led by EQT Life Sciences and Sectoral to support international expansion and clinical trials.
Manchester-based medical device startup that develops neurostimulation systems to treat swallowing disorders.
Manchester-based medical device startup Phagenesis has closed a $42m Series D equity round. The syndicate was led by EQT Life Sciences and co-led by Sectoral, with participation from British Patient Capital, Northern Gritstone, and Aphelion.
The capital will support commercialisation of the Phagenyx system in the US alongside expanded European operations. Funds will also be directed towards clinical trials, regulatory activities, and research and development for pipeline products following recent FDA approval.
Drew Burdon, Michael Sjöström, and Mark Wyatt are joining the board of directors as part of the transaction.
From the founder
"This investment from a highly experienced international investor syndicate will accelerate access to and adoption of our therapy,"
Reinhard Krickl
CEO at Phagenesis
Investor perspective
"Dysphagia is a severe medical condition that affects countless patients in hospital. It can increase hospital length of stay, the risk of complications, and lengthens recovery time. The Phagenyx System demonstrates significant reductions in hospital length of stay, with a corresponding and substantial reduction in healthcare costs, as evidenced by the Company’s strong portfolio of high-quality clinical studies. This is strongly aligned with EQT’s Health Economics strategy of transforming cutting-edge scientific innovation into impactful and cost-effective healthcare solutions. We‘re excited to support the next phase of Phagenesis’ journey."
Drew Burdon
Partner, EQT Life Sciences
Use of funds
- 01Expand into international markets
- 02Fund research and development
Investors
Drew Burdon
EQT Life Sciences
Michael Sjöström
Sectoral
British Patient Capital
Northern Gritstone
Aphelion
Categories
About the company
Phagenesis
Phagenesis develops neurostimulation technology to treat swallowing disorders.