Sequana Medical AG, a Zurich, Switzerland-based medical device company focused on the development and commercialization of innovative implantable pump systems that manage excess fluid within the body, raised CHF 9m ($9.3m) in Series C extension round.
Existing investors NeoMed Management, VI Partners, Biomed Invest, Capricorn Health-tech Fund, Entrepreneurs Fund and Life Science Partners participated with a total of CHF 5.3M; new investors Salus Partners SA and Quest for Growth NV participated with a further CHF 3.7M.
The company intends to use the funds to expand current business for its proven fluid management systems through new indications in heart disease and to pursue U.S. marketing approvals.
Founded in 2006 by Noel L. Johnson, Ph.D., CEO, Sequana Medical is a medical device company dedicated to developing innovative technologies to manage fluid overload in patients suffering from liver disease, cancer and congestive heart failure.
Its alfapump system, which received CE Mark in 2011 and is currently available in 14 countries in Europe, the Middle East and South America, is an automated, fully implantable pump system for the management of ascites (fluid build-up in the abdomen), a frequent complication of late-stage liver disease and certain cancers. By moving ascites to the bladder as it forms, where it is passed naturally from the body, the system prevents fluid build-up and its complications. In addition, the alfapump DirectLink Technology allows clinicians to monitor and manage patients treated by the alfapump system.