Sequana Medical, Swiss medical device company, nets 9M CHF: new investors Salus Partners and Quest for Growth join existing investors
Quest for Growth has invested 1 million Swiss Francs in Sequana Medical AG, a non‐quoted company based in Zurich, Switzerland that has developed an innovative implantable pump, the alfapump. The alfapump is approved in the EU to treat excess fluid in the belly for patients suffering from liver disease.
The investment is part of a larger financing round of 9 million Swiss Francs coming from existing investors NeoMed Management, VI Partners, Biomed Invest, Entrepreneurs Fund, Life Science Partners and the Capricorn Health‐tech Fund and new investors Salus Partners and Quest for Growth. According to Frank Bulens, Partner at Capricorn Venture Partners, the additional money will be used to further commercialize the alfapump in Europe, to finance clinical studies in the US and to develop new applications for the alfapump.
The investment in Sequana Medical is a co‐investment alongside the Capricorn Health‐tech Fund. The investment fits the strategy of Quest for Growth to invest in non‐quoted companies. Besides investing in venture capital funds managed by Capricorn Venture Partners, Quest for Growth also invest directly in selected companies out of the portfolios of those Capricorn funds in a later stage of their development. This is the first co‐investment of Quest for Growth with the Capricorn Health‐tech Fund. In the past Quest for Growth already invested in Avantium, FRX Polymers and Green Biologics, all portfolio companies of the Capricorn Cleantech Fund.
About Sequana Medical
Sequana Medical – headquartered in Zürich, Switzerland – is a medical device company developing innovative implantable pump systems to manage fluid balance within the human body. 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. The Company’s first product, the alfapump system, is an innovative solution for the management of ascites. Ascites is a fluid that collects in the abdominal cavity in people with advanced liver disease, certain cancers, or congestive heart failure. The first and only system for the automatic and continual removal of ascites, the alfapump system was launched to the European market in 2011. Other applications of this novel pump technology are in development.
About Quest for Growth
QUEST FOR GROWTH, Privak, Undertaking for Collective Investment with fixed capital under Belgian Law. The diversified portfolio of Quest for Growth is for the most part invested in growth companies listed on European stock exchanges, in European unquoted companies and in venture capital funds. Quest for Growth focuses on innovative companies in sectors such as information‐ and communication technology (ICT), technology for life sciences (Health‐tech) and clean technology (Cleantech). Quest for Growth has been listed on Euronext Brussels since September 23rd 1998.
Source: Quest for Growth Press Release