BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Phagenesis Ltd Expands Series B Financing to $17 Million


5/22/2013 7:38:34 AM

Staying up-to-date has never been simpler. Sign up for the free GenePool newsletter today!

Phagenesis Expands Series B Financing to $17 million

MANCHESTER, England--(BUSINESS WIRE)-- Phagenesis, the world’s leading company in the treatment of dysphagia, has expanded its Series B financing to $17m.

In 2011, Phagenesis announced a €7m Series B financing, led by Inventages Venture Capital.

The increased resources will be used to launch the Phagenyx® treatment, which received its CE Mark in 2012, in new territories and to expand clinical testing in new patient groups.

Dysphagia is the inability to swallow safely, a debilitating condition that affects about half of stroke patients. Dysphagia can lead to the inhalation of solids or liquids followed by pneumonia. Current management of the condition includes tube-feeding patients, which can lead to a significant loss of quality of life.

The Phagenyx treatment involves an electrical stimulus to the oropharynx (a region of the back of the throat) for 10 minutes a day for three consecutive days. Peer-reviewed, randomised clinical trials have shown that this treatment is safe and effective in improving participants’ safe swallowing ability.

Daniel Green, CEO of Phagenesis, said: “Our investors continue to show confidence in our ability to deliver this new technology to doctors to treat patients who might otherwise face a lifetime of tube feeding.”

Oern Stuge MD, recently appointed Chairman of Phagenesis, said: “Dysphagia is one of the great unmet medical needs in the treatment of stroke, which healthcare systems around the world recognise as an increasingly important challenge both clinically and economically.”

Ashok Dhanrajgir, Director of Phagenesis and a partner at Inventages, said: “Inventages remains a committed investor and major participant in the expanded Series B Financing, which will enable Phagenesis to bring this important new technology to a wider patient population.”

About Phagenesis

Phagenesis has developed the first clinically proven treatment for dysphagia, a debilitating and often lethal condition in which the patient’s ability to swallow is damaged. Dysphagia can lead to the inhalation of solids or liquids followed by pneumonia. Sufferers may face being fed through a tube indefinitely, reduced life expectancy, and many are treated for depression. Phagenesis raised a £2 million Series A financing in 2010 and a €7m financing in 2011. For more information, please visit our website at www.phagenesis.com

Contact:

Phagenesis

Daniel Green

daniel.green@phagenesis.com

+44 (0)161 820 4525

+44 (0)161 820 4524

+44 (0)7968 183 512



Help employers find you! Check out all the jobs and post your resume.


Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES