Phagenesis Ltd, a Manchester, UK-based company that is developing a treatment for acute and chronic dysphagia (inability to swallow safely), has closed a €7m Series B funding round.
The round was led by Inventages, with existing shareholders also participated in the round.
The company intends to use the funds to accelerate its development plans and accelerate its go-to market strategy.
Led by CEO Daniel Green, Phagenesis is advancing a device designed to deliver a precisely sequenced and calibrated electrical signal to the pharynx of the dysphagic patient. Dysphagia is a debilitating and often lethal condition in which the patient’s ability to swallow is damaged.
In conjunction with the funding, Ashok Dhanrajgir, Senior Partner at Inventages, will join the company’s Board of Director.
Phagenesis raised a £2m Series A financing in 2010 (read here).
FinSMEs
04/10/2011