Report: Pharyngeal neurostim company Phagenesis raises $42M
Summary
According to the report, EQT Life Sciences and Sectoral led the round, with new investors British Parent Capital, Northern Gritstone and Aphelion joining in.Axios says Krickl outlined the plans for the funds, which include helping with the U.S. commercialization of the Phagenyx system. It is also available in Europe.Phagenesis received FDA de novo clearance for and launched the Phagenyx system in October 2022.Other intended use of proceeds include clinical trials and real-world data collection to support U.S. reimbursement, Axios reported.Phagenyx uses PES to target the neurological components of swallowing coordination. According to Dr. Wade Smith, professor of neurology at the University of California, San Francisco (UCSF), dysphagia patients cant manage their own saliva. That includes accelerated recovery, reduced length of hospital stay and the prevention of downstream complications. The Phagenyx system is a next-generation therapy for neurogenic dysphagia that has been shown to deliver significant benefits in swallowing safety and swallowing efficiency, which have the potential to translate into substantial health economic benefits due to accelerated patient recovery, Krickl said in 2022.