Quanta Raises $48 million in Series C Funding Round
Funds will support UK commercial launch and FDA 510(k) submission later this year
29 July 2019: Quanta Dialysis Technologies Ltd, 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.
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.
John E. Milad
Chief Executive Officer
Christian Schütz, Managing Director of btov 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.