Sequana Medical is engaged in the development of new treatment solutions for the management of liver disease, heart failure, malignant ascites and other fluid imbalance disorders.
The company raised the money from several Belgian investors including Newton Biocapital, PMV and SFPI-FPIM as well as existing shareholders.
Sequana Medical CEO Ian Crosbie said the company is entering a phase aimed at accelerated commercial growth and innovation.
Crosbie said: “Moving our corporate headquarters to Ghent will allow us to benefit from Belgium’s attractive healthcare ecosystem and support for life sciences companies, as well as to strengthen our commercial ties within the EU.”
The company expects to use the the additional funding to drive towards profitability for its European commercial business, start the North American pivotal study of the alfapump for the treatment of liver recurrent and refractory ascites.
The company also plans to start first-in-human studies for its Direct Sodium Removal (DSR), a therapy for the management of volume overload in heart failure.
Sequana Medical chairman Rudy Dekeyser said: “Belgium is a key hub in the life sciences industry in Europe, known for its top scientific research and renowned investment funds. The establishment of its new headquarters in Flanders and attracting these prominent investors will enable Sequana Medical to further leverage its unique alfapump technology and gain access to top talent.”
The company received CE Mark approval for its alfapump system for liver refractory ascites and malignant ascites.
The alfapump system is claimed to be safe, efficient and improves the quality of life, supported by multiple clinical studies and over 650 implants.
Newton Biocapital Partners partner Els Hubloux said: “Sequana Medical perfectly fits in our strategy to support innovative treatment solutions that will improve the quality of life for patients suffering from chronic diseases, such as liver disease and heart failure. We are very pleased to welcome such a talented company within our Life Sciences Venture Capital portfolio.”
