Seroba Kernel Life Sciences co-leads a £9 Million Financing in Quanta Fluid Solutions
New Financing to Support Development of Innovative System for Home Haemodialysis
Dublin, Ireland, 30 September 2009: Seroba Kernel Life Sciences announced today that it has co-led an investment of £9 million ‘Series A’ equity financing in the UK company Quanta Fluid Solutions (Quanta). Quanta is developing SelfCare+, an innovative home haemodialysis system based on a revolutionary machine and cartridge design that provides simplicity, reliability, portability and high treatment quality to patients with chronic renal disease. This targets the needs of an emerging and under-served home-care market that has been starved of innovation.
Quanta was spun out of IMI plc, a major international engineering group, where the core concept and early prototypes for the SelfCare+ system were developed. The founding team has worked together for more than seven years and has an extensive track record developing advanced fluidic technologies for innovative medical and other applications.
The financing was co-led by Seroba Kernel Life Sciences alongside NBGI Ventures, a venture capital firm specialized in medical technology investments, and Wellington Partners, a pan-European venture capital group based in Munich. Also participating in the financing was BrainsToVentures (“b-to-v”), a network of entrepreneurial private investors based in Europe.
Quanta has appointed Johan de Ruiter as Chairman. Johan has 30 years of global medical device and healthcare experience and most recently held the position of Executive Vice President Dialysis International of Fresenius AG, the leading manufacturer and service provider in the dialysis market.
Martin Johnson, Quanta’s CEO, commented: “This investment brings together experienced partners with proven track records to support the Quanta team through an exciting period of corporate development. The investors have shown great faith in our technology and engineering which will bring real benefits – both clinical and in terms of quality of life – to patients with renal disease and their families. There has been little innovation in this segment for decades and the growing demand for home haemodialysis by patients, clinicians and healthcare payors remains a high unmet need. Quanta intends to deliver the first truly patient-oriented haemodialysis solution that will bring lasting benefits to kidney disease sufferers across the globe.”
About End Stage Renal Disease and Haemodialysis
End Stage Renal Disease affects millions of patients worldwide. Lifestyle choices, modern diet, high blood pressure, diabetes, increased life expectancy and other factors are affecting renal health in an unprecedented way. Haemodialysis is a more than £25 billion global market and is a life saving treatment for millions of patients suffering from acute renal failure and chronic renal disease. In patients with these conditions, the kidneys temporarily or permanently lose their ability to remove waste products and fluids from the bloodstream. This patient population is growing, driving demand for increased dialysis capacity in an increasingly budget-constrained healthcare environment.
Today, haemodialysis is delivered primarily in specialist clinics and centres, but issues of patient benefit, cost and clinic capacity are driving the growth of home haemodialysis. A number of studies have shown that 30-40% of patients would be capable of performing self-dialysis at home (compared with current practice in western countries, where less than 5% of haemodialysis patients are treated at home) and that more frequent and longer dialysis at home improves health, longevity and quality of life. A major factor limiting the growth of home haemodialysis is the lack of convenient, portable and easy-to-use dialysis systems. Quanta’s SelfCare+ is addressing this market need.
About Quanta Fluid Solutions (www.quantafs.com)
Headquartered in Alcester, United Kingdom, Quanta is a pioneer in the field of advanced medical fluidics, and is developing SelfCare+, an innovative home haemodialysis system. SelfCare+ is based on a revolutionary machine and cartridge design that provides simplicity, reliability, portability and high treatment quality to patients with chronic renal disease. The company was spun-out from IMI plc, where the founding team originally developed the underlying technology and concepts.
About Seroba Kernel Life Sciences
Seroba Kernel is an Irish and UK based venture capital firm specialising in European life science investments. The firm is investing from the Seroba Kernel Life Sciences Fund II, one of a number of life science funds which the firm manages. Together with partner firm Kernel Capital, Seroba Kernel has funds under management totalling approximately EUR 200 million. Seroba Kernel invests in therapeutic, diagnostic and medical device companies that have the potential to change fundamentally medical care.
About NBGI Ventures (www.nbgiventures.com)
NBGI Ventures, established in 2001, manages funds with over €100 million in total commitments and focuses on leading investments in innovative medical technology companies. NBGI Ventures is based in London and considers investments across Europe and the US. NBGI Ventures is a division of NBGI Private Equity Limited, which is authorised and regulated by the Financial Services Authority.
About Wellington Partners (www.wellington-partners.com)
Wellington Partners is one of the most successful pan-European venture capital firms. With some €800 million under management and offices in Munich, London, Palo Alto and Zurich, the firm invests into companies throughout Europe that have the potential to become global leaders, in the areas of Digital Media, Technology and Life Sciences. Since 1998, Wellington has invested in more than 100 companies.
About BrainsToVentures (www.b-to-v.com)
BrainsToVentures AG (b-to-v) serves entrepreneurial private investors who invest their capital, network and expertise in fast-growing companies. With over 50 members, the b-to-v Investors Circle is the most active club of entrepreneurial private investors in German-speaking Europe. Based on the members’ expertise, b-to-v’s scope of investment comprises more than 30 different industries. b-to-v’s Investors Circle invests about €20 million per year in early and expansion stage companies as well as buyout cases. At present, b-to-v is invested in about forty companies.
For more information contact:
Seroba Kernel Life Sciences
15 Molesworth Street, Dublin 2
T: +353 (0)1-6334028