UK medical technology developer Phagenesis has expanded its Series B financing to £11.3m.
In 2011, Phagenesis previously announced a £6m Series B financing, led by life sciences investor Inventages Venture Capital. Previously it raised a £2m Series A financing in 2010.
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.
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.
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.”
Inventages is one of the world’s largest life sciences, nutrition and wellness focused venture capital funds, with $1.5bn under management.
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