Sequana Medical, a Swiss medical device manufacturer, has raised a new round of funding to support the expansion in Europe of its implantable pump to treat complications from liver disease and certain cancers and to accelerate groundwork for clinical trials in the U.S., according to a company statement.
NeoMed Management AS, VI Partners AG, Biomed Invest AG, Capricorn Health-tech Fund, Entrepreneurs Fund and Life Science Partners were among the investors in the Series C round, which raised $9.3 million.
The alfapump device received CE mark approval from the European regulatory body in 2011. The implantable, automated pump is designed to remove ascites (fluid build-up in the abdomen), a frequent complication of late-stage liver disease.
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Sequana makes a case for its device as a less painful alternative to the current practice — large volume paracentesis, which can involve frequent hospital visits and a painful procedure to drain the excess fluid. The procedure is used for patients who don’t respond well to medication to treat the condition. The implanted pump removes fluid as it forms, preventing fluid build up and complications that can arise from that, according to a company statement. It could also reduce hospital visits and the costs associated with them.
