Sequana Medical raises CHF 9m series-C extension

Previous backers NeoMed Management, VI Partners, Biomed Invest, Capricorn Health-tech Fund, Entrepreneurs Fund and Life Sciences Partners (LSP) participated with a CHF 5.3m capital injection.

New investors Salus Partners and Quest for Growth provided CHF 3.7m.

Sequana will use these funds to expand its current business and to pursue US marketing approvals.

Previous funding
According to unquote" data, NeoMed and VI Partners invested €4.4m in Sequana in September 2006. A series-B round followed in April 2011 with Capricorn, BioMed and Entrepreneur Fund co-leading a CHF 23.7m investment alongside the existing backers.

In April 2014, LSP led the company's CHF 23m series-C funding round.

Company
Founded in 2006 in California as NovaShunt, the company relocated to Zurich in 2007 using proceeds from its series-A funding round, which it also used to hire technical staff and to complete the final design of its maiden product. Following its series-B round, the company was renamed Sequana Medical.

The company's core technology is a fully implantable pump system designed to move excess fluid to the bladder, where it is passed naturally from the body through normal urination. Its first product, the Alfapump system, aims to provide a solution for the management of ascites. Refractory ascites is a common complication in patients suffering from liver cirrhosis and certain cancers, and affects more than 100,000 patients per year in Europe and the US, according to Sequana.

People
Noel Johnson is CEO of Sequana. Brian Hashemi is managing partner at Salus. Frank Bulens is a partner at Capricorn.

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• Topics
• DACH
• Expansion
• Healthcare
• Switzerland