Quanta Dialysis Technologies, a UK-based medical technology company, has secured £38m ($48m) in a first closing of its Series C funding round.
Quanta Dialysis is engaged in developing a personal haemodialysis system (SC+) for use of patients in the clinic and at home.
The financing round was participated by existing investors was led by a Swiss private family office and btov Partners. It was co-led by Wellington Partners and Seroba Life Sciences..
Quanta Dialysis is planning to use the financing proceeds to fund the UK commercial launch of its haemodialysis system SC+ and a 510(k) submission to the FDA.
Quanta chief executive officer John E. Milad said: “This is an exciting time for Quanta and a pivotal moment as we prepare to launch our updated SC+ personal haemodialysis system to our first commercial users in the UK later this year.
“We are grateful for this support from both new and existing investors, who share our vision to help more dialysis patients take greater control of their lives, both in the UK and beyond.”
According to the recently announced American Kidney Health Initiative, the importance of providing in home dialysis has becoming increasingly demanding, and is aimed at providing dialysis patients with greater choice and better access to home therapies.
Quanta claims that it has developed personal haemodialysis system SC+ with the goal of making self-care and home dialysis more accessible, thereby giving patients more choice and empowerment.
SC+ is a small and simple haemodialysis system that has been piloted with the NHS to, demonstrate clinical efficacy and performance compatible with traditional treatment regimens used in-centre.
The CE marked medical device enables all dialysate fluid management to be conducted on a small, lightweight, disposable cartridge.
The company plans to launch SC+ system later this year into a market.
Christian Schütz from btov Partners said: “There are approximately 3.5 million dialysis patients globally and there has been very little innovation over the years. We are confident that SC+ will provide a much-needed solution to help health systems deliver better value for money whilst at the same time improving patients’ lives.”