Phagenesis raises $42M to accelerate U.S. rollout of dysphagia therapy

Manchester, UK — Mar 4, 2024. Phagenesis closed a $42 million Series D to scale U.S. commercialization of Phagenyx®, its neurostimulation therapy for neurogenic dysphagia, and to expand in Europe. The round was led by EQT Life Sciences with Sectoral Asset Management co-leading; participants include British Patient Capital, Northern Gritstone, and Aphelion. Proceeds fund U.S. market entry, additional clinical work, regulatory activities, and pipeline development. (Phagenesis, EQT Group)

Phagenyx delivers pharyngeal electrical stimulation (PES) via a trans-nasal catheter to help restore swallowing control in patients—often after stroke or prolonged ventilation. The system received FDA De Novo authorization in 2022 and has NTAP (New Technology Add-On Payment) reimbursement status in the U.S., supporting hospital adoption. (Phagenesis, FDA Access Data, MEARIS, Capitol Street)

Governance note: Phagenesis’s board is chaired by Oern R. Stuge, MD, MBA, founder/chairman of Orsco Lifesciences. (Orsco Life Sciences, Phagenesis)

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