Phagenesis closes €7million Series B financing round
Phagenesis Ltd announced that it has closed a €7 million Series B funding round designed to accelerate the company’s development plans. The investment is led by Inventages, one of the world’s largest life science funds specialised in treatment solutions for chronic diseases. Existing shareholders also participated in the round.
The Phagenesis device delivers a precisely sequenced and calibrated electrical signal to the pharynx of the dysphagic patient. Peer-reviewed clinical trials have shown that this treatment is safe and effective in improving the patients’ safe swallowing ability.
Gunnar Weikert, Founder of Inventages, said, “Phagenesis is addressing a critical unmet need in a very large market. Dysphagic patients are underserved by modern medicine and many face tube-feeding and a significant loss of quality of life for decades. Phagenesis is ideally-placed to meet this challenge.”
Daniel Green, CEO of Phagenesis, said, “Phagenesis has translated the research of our academic founder Professor Shaheen Hamdy into a medical device designed to alleviate the suffering of millions of patients around the world. We and Inventages share a vision of our technology and the way it can be deployed to benefit these patients, and we welcome them on board.”
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