Phagenesis expands series-B round to $17m

The initial €7m raise in October 2011 was led by Inventages Venture. The investor committed further capital in the latest fundraising.

The fresh capital will be used to launch the company's proprietary dysphagia treatment into new territories and expand its clinical testing.

The company raised £2m in a series-A round in 2010.

Company
Founded in 2007 and based in Manchester, Phagenesis has developed a treatment for dysphagia. The condition damages the patient's ability to swallow, which can lead to the inhalation of solids or liquids followed by pneumonia. Many of those affected by the condition have suffered a stroke.

Phagenesis's treatment involves an electric stimulus to the oropharynx for 10 minutes a day on three consecutive days.

People
Ashok Dhanrajgir is a partner at Inventages and director of Phagenesis.

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