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 Quantaand 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, Managing Director of 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 solutionto 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 toprovide 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.
For more information about Quanta: http://www.quantadt.com
SM-00049-A About SC+
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.About QuantaQuanta’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
Further Information and Image: http://www.quantadt.com