Sequana Medical AG, a Zurich, Switzerland-based medical device company with innovative fluid management technologies, has raised CHF23m ($26.2m) in a Series C financing.
The round was led by LSP (Life Science Partners), and co-led by NeoMed Management (which retained its role as the largest investor), VI Partners, BioMedInvest, Entrepreneurs Fund and Capricorn Venture Partners. In conjunction with the funding, Rudy Dekeyser, Ph.D., Managing Partner at LSP’s Health Economics Fund, will join Sequana Medical’s Board of Directors.
The company intends to use the funds for global commercial expansion, initiation of US clinical studies and application of the alfapump technology to new clinical markets.
Founded in 2006 and led by Noel L. Johnson, Ph.D., CEO, and newly appointed Stephen McGill as Vice President of Sales and Marketing, Sequana Medical develops innovative technologies to manage fluid overload in patients suffering from liver disease, cancer and congestive heart failure. Its alfapump system, a fully implantable battery-powered pump system, automatically and continually moves excess abdominal fluid, called ascites, from the abdominal cavity to the bladder, where it is passed naturally from the body (refractory ascites is a common complication in patients suffering from liver cirrhosis and certain cancers and affects over 100,000 patients per year in Europe and the US).
The company received CE-Mark for the alfapump system in 2011 and is commercially active in several European countries.