The outlet says CEO Reinhard Krickl confirmed the Manchester, U.K.–based company’s latest funding. 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. The first-of-its-kind therapy to use pharyngeal electrical stimulation (PES). It aims to restore swallowing control in patients with severe dysphagia post-stroke. The FDA granted Phagenyx breakthrough device designation in January 2020. 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 p…