News Feed Item

Sequana Medical AG Raises CHF 23 Million in a Series C Financing Led by LSP, and Adds an Independent Board Chairman and Vice President of Sales and Marketing

ZURICH, April 28, 2014 /PRNewswire/ --

Sequana Medical AG, a private Swiss medical device company with innovative fluid management technologies, announced today that it has raised CHF 23 million ($26.2 million) in a Series C preferred share financing round led by LSP (Life Science Partners), and co-led by NeoMed Management, VI Partners, BioMedInvest, Entrepreneurs Fund and Capricorn Venture Partners. NeoMed retains its role as the largest investor in Sequana Medical.

Sequana Medical's alfapump system is a fully implantable battery-powered pump system that automatically and continually moves excess abdominal fluid, called ascites, from the abdominal cavity to the bladder, where it is passed naturally from the body. Refractory ascites is a common complication in patients suffering from liver cirrhosis and certain cancers and affects over 100,000 patients per year in Europe and the US.

"This financing is a significant milestone for Sequana Medical," said Noel L. Johnson, Ph.D., CEO of Sequana Medical. "Funds will be used for global commercial expansion, initiation of US clinical studies and application of the alfapump technology to new clinical markets. Fluid overload in ascites and other indications is an area of significant unmet clinical need and represents more than a $1 billion market opportunity for Sequana Medical's proprietary technology. Our clinical and commercial experience to date has demonstrated that the alfapump system is safe and highly effective."

"We are excited about the Sequana Medical opportunity. The alfapump system provides new hope to patients suffering from refractory ascites," said Rudy Dekeyser, Ph.D., Managing Partner at LSP's Health Economics Fund. "The alfapump is a unique innovation that both improves the quality of healthcare and reduces the cost and burden of the care associated with managing refractory ascites." Rudy Dekeyser will join Sequana Medical's Board of Directors.

"We are pleased to be joined by LSP and look forward to working closely with them to make Sequana Medical's highly innovative alfapump system available to patients across the globe.  Sequana Medical's core technology is robust and adaptable to further clinical applications such as lung and respiratory disease, congestive heart failure and renal disease," said Erik Amble, Ph.D., Managing Partner at NeoMed. "I have had the pleasure to serve as Sequana Medical's Board Chairman since the Company's inception." said Dr. Amble. "I am pleased to announce that Luzi Andreas von Bidder will take on the role of Independent Board Chairman. Luzi brings substantial commercial and management experience to the Sequana Medical Board and we look forward to his guidance as Sequana Medical becomes a global commercial company."

Additionally, Sequana Medical is pleased to announce the appointment of Stephen McGill as Vice President of Sales and Marketing.  "Stephen is an experienced global leader with nearly 30 years of experience in the medical devices industry with specific focus on sales and marketing execution, supply chain management, geographical expansion and business development," said Dr. Johnson. Stephen most recently served as SVP & GM of International at Angiodynamics. Prior to that, Stephen held key leadership and sales positions with American Medical Systems, Boston Scientific, Bolton Medical, Stryker and Allergan.

The Company received CE-Mark for the alfapump system in 2011 and its PIONEER study was published in 2013 in the Journal of Hepatology, Europe's leading Hepatology journal.  A 60-patient multicentre randomised trial will be completed later this year under the direction of Professor Rajiv Jalan at the Royal Free Hospital, London.  The Company is commercially active in several European countries and is looking to expand its geographical coverage with the Series C funding.  

About Sequana Medical:  

Founded in 2006, Sequana Medical AG is a Swiss medical device company backed by NeoMed Management, VI Partners, Biomed Invest, Capricorn Venture Partners, Entrepreneurs Fund and Life Science Partners, and is dedicated to improving patient lives through innovative technologies to manage fluid overload in patients suffering from liver disease, cancer and congestive heart failure.  For more information please visit http://www.sequanamedical.com.

About NeoMed Management: 

NeoMed Management is an international investment firm registered in Jersey, Channel Islands, with total capital under management in excess of $300 million that focuses exclusively on the healthcare products industry. NeoMed invests in all stages of development from start-up to later stage growth. Since inception in 1997, NeoMed has successfully invested in more than 40 innovative European and North American companies with outstanding growth prospects.  For more information please visit http://www.neomed.net.

About VI Partners: 

VI Partners is a Swiss venture capital firm that supports university spin-offs as well as other promising start-up companies with capital, coaching, consulting and networks. Venture Incubator was established by McKinsey & Company and the Swiss Federal Institute of Technology in Zürich (ETHZ), and started operations in 2001. Currently, VI Partners holds investments in more than 30 companies. Via the "Venture Incubator" fund VI Partners invests "Smart Money" to develop promising technology-based ideas for products and services into successful businesses. It now manages an investment fund of CHF 101 million. VI Partners investors represent 10 blue-chip enterprises from industry and finance.  For more information please visit http://www.vipartners.ch.

About BioMedPartners: 

BioMedPartners is one of the leading European venture capital firms providing private equity and mezzanine financing to early- and mid-stage healthcare and human life science companies. The BioMedInvest vehicle targets the entire industry with special focus on pharmaceuticals, biotechnology, diagnostics and medical technology. Based in Basel, BioMedPartners has successfully invested in more than 35 human life science companies over the last ten years, of which a large number have already been listed on the stock exchange or have been acquired by leading players in the pharmaceutical industry.  For more information please visit http://www.biomedvc.com.

About Capricorn Venture Partners: 

Capricorn Venture Partners is an independent European manager of venture capital and equity funds, investing in innovative European companies with technology as competitive advantage. It is based in Leuven, Belgium and licensed by the Financial Services and Markets Authority in Belgium.  For more information please visit http://www.capricorn.be.

About Entrepreneurs Fund: 

The Entrepreneurs Fund provides early stage and growth financing alongside active support to entrepreneurial teams. The Entrepreneurs Fund brings the long term perspective, experience and global outlook of a family business in its 5th generation. It is their ambition to create relationships that are valuable and valued, and to actively contribute more to those relationships. The Entrepreneurs Fund is the venture capital member of the COFRA Group. For more information please visit http://www.entrepreneursfund.com.

About LSP (Life Science Partners): 

LSP (Life Sciences Partners) is one of Europe's leading investors in the health care sector. Over more than 25 years, LSP has built elaborate expertise in establishing and growing health care companies with a positive impact on society. In partnership with inventors and entrepreneurs LSP contributes to the translation of breakthrough concepts into products that benefit patients. LSP connects LPs to inventors with a dual goal: generating an interesting financial return and contributing to the quality of life. LSP's Health Economics Fund invests in innovative products contributing to a better and cheaper health care. For more information please visit the new LSP website: http://www.lspvc.com

Sequana Medical
Emily Woodward
Director of Marketing
[email protected]
Tel: +41-44-403-55-21

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Cloudbric, a leading website security provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
SYS-CON Events announced today that Transparent Cloud Computing (T-Cloud) Consortium will exhibit at the 19th International Cloud Expo®, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The Transparent Cloud Computing Consortium (T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data proces...
In his session at 19th Cloud Expo, Nick Son, Vice President of Cyber Risk & Public Sector at Coalfire, will discuss the latest information on the FedRAMP Program. Topics will cover: FedRAMP Readiness Assessment Report (RAR). This new process is designed to streamline and accelerate the FedRAMP process from the traditional timeline by initially focusing on technical capability instead of documentation preparedness. FedRAMP for High-impact level systems. Early in 2016 FedRAMP officially publishe...
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
SYS-CON Events announced today that Coalfire will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, health...
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, will discuss how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team a...
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Governments around the world are adopting Safe Harbor privacy provisions to protect customer data from leaving sovereign territories. Increasingly, global companies are required to create new instances of their server clusters in multiple countries to keep abreast of these new Safe Harbor laws. Is it worth it? In his session at 19th Cloud Expo, Adam Rogers, Managing Director of Anexia, Inc., will discuss how to keep your data legal and still stay in business.