Quanta Raises $48 million in Series C Funding Round
~ Funds will support UK commercial launch and FDA 510(k) submission later this year ~
Alcester, Warwickshire, UK, 29 July 2019: Quanta Dialysis Technologies Ltd (“Quanta” or the “Company”), a British medical technology company developing a personal haemodialysis system (SC+) for patient use in the clinic and the home, today announces that it has successfully raised £38 million ($48 million) in a first closing of its Series C funding round.
The round was led by a Swiss private family office in combination with btov Partners and co-led by Wellington Partners and Seroba Life Sciences, along with participation from other existing investors. Proceeds will be used to fund the UK commercial launch of SC+ and a 510(k) submission to the FDA later this year.
John E. Milad, Chief Executive Officer of Quanta, 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.”
Christian Schütz, Partner at btov Partners on behalf of the lead investors, 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.”
The importance of providing innovation in home dialysis is becoming increasingly imperative, as evidenced by the recently announced American Kidney Health Initiative, which aims to provide dialysis patients with greater choice and better access to home therapies. With its unique, state-of-the-art dialysis system designed specifically for patient use, Quanta is ideally positioned to harness these industry trends. To find out more information on this, please click here.
For more information about Quanta, please contact:
T: +44 (0)1789 400043
|Consilium Strategic Communications|
Amber Fennell / Matthew Neal / Lindsey Neville
|T: +44 (0)203 709 5708|
SC+ is a small, simple and powerful haemodialysis system designed to provide greater flexibility around where, when and how patients manage and receive their dialysis therapy. As a CE marked medical device, SC+ has been successfully piloted with the NHS, demonstrating clinical efficacy and performance compatible with traditional treatment regimens used in-centre. The innovative and patented technology behind SC+ is based on a design breakthrough that allows all dialysate fluid management to be conducted on a small, lightweight, disposable cartridge. The small form factor and simple-to-use design are intended to enable a broader range of users—including patients themselves—to manage dialysis therapy delivery across a wide range of settings—from the clinic to the home. Quanta will be launching SC+ later this year into a market that is increasingly seeking solutions to support patient self-care and home dialysis.
Quanta’s mission is to improve the lives of dialysis patients through innovation. Quanta’s lead product SC+ is designed to empower dialysis patients by giving them greater flexibility, convenience and control over the delivery of their life-sustaining renal replacement therapy. Quanta was founded in 2008 and is based in Alcester, UK.
For more information, please visit: www.quantadt.com.
SC+ is not yet FDA cleared and not yet available for sale in the USA.
About btov Partners
btov Partners, founded in 2000, is a European venture capital firm focusing on digital and industrial technologies. btov’s network of entrepreneurial private investors provides it with unique expertise and access to non-obvious investment themes and founders. The btov Industrial Technologies Fund focuses on hardware and software innovation with industrial use cases such as automation, robotics, data analytics, Industrial AI, additive manufacturing and quantum computing. With offices in Berlin, Munich, St. Gallen and Luxembourg, the company manages assets of EUR 420 million. The most well-known investments include Blacklane, Data Artisans, DeepL, Dyemansion, Effect Photonics, Electrochaea, Foodspring, ORCAM, Quanta, Raisin, SumUp, Volocopter and XING. More information at www.btov.vc