Nestlé Health Science has agreed to acquire UK-based medical device firm Phagenesis for an undisclosed sum.
Based in Manchester, Phagenesis is engaged in the development of pharyngeal electrical stimulation device called Phagenyx to treat dysphagia (swallowing difficulty).
Phagenyx will use pharyngeal electrical stimulation to deliver an electrical signal optimized for each patient to the back of the patient’s throat (oropharynx).
As part of the deal, Phagenesis will receive an upfront payment and milestone-based funding from Nestlé, and will complete the development of pharyngeal electrical stimulation device.
Expected to complete by 2019, the staged acquisition will depend on the successful completion of clinical development programs in Europe and the US.
According to the firm, dysphagia is expected to occur in 29% to 55% of stroke patients and every year 15 million people worldwide suffer a stroke.
Dysphagia can result in complications such as aspiration pneumonia, malnutrition and dehydration.
Nestlé Health Science CEO Greg Behar said: “Dysphagia is a strategic focus for Nestlé Health Science. This innovation can bring a new dimension to swallowing rehabilitation that can be transformational from a patient and healthcare professional perspective.”
Phagenesis CEO Reinhard Krickl said: “Nestlé Health Science is the leading global player in dysphagia with capabilities and reach to enable Phagenesis to accelerate the development and deployment of Phagenyx around the world.
“Phagenyx is a unique medical device innovation in treating dysphagic patients based on a well-researched mechanism of action. Our initial focus is on stroke patients but multiple applications are possible, including for ICU patients whose swallowing function can be compromised.”
Image: Nestlé Health Science to acquire UK-based Phagenesis. Photo: courtesy of stockimages at FreeDigitalPhotos.net.