Pharmaceutical firm Novo co-led a $245m series D round yesterday for Quanta Dialysis Technologies, a UK-based medical device producer spun off from engineering firm IMI.
The round was co-led by hedge fund manager Glenview Capital and included healthcare provider Orlando Health, BlackRock, Eldridge, Sands Capital, Millennium Management, Monashee Investment Management, Puhua Capital, Segulah Medical Acceleration, Ancora Holdings, Wellington Partners, Btov, Seroba Life Sciences and The Grands.
Formerly known as Quanta Fluid Solutions, Quanta has built a haemodialysis device called SC+ which can remove waste products and excess fluid from the blood of patients with chronic kidney diseases.
The company will put the funding into expanding its global operations, particularly in the United States where SC+ has been granted regulatory approval for use in care facilities.
Robert Ghenchev, a senior partner at Novo who heads its Novo Growth unit, will join Quanta’s board of directors alongside Glenview Capital partner Lee Hathaway.
Quanta secured $48m in a series C round co-led by Btov (then B-to-V Partners), Wellington Partners, Seroba Life Sciences and an undisclosed Swiss family office in mid-2019. The capital was set to represent the first tranche of the round but it is yet to disclose any additional series C funding.
The company had raised $43m in a 2014 series B round that included industrial gases producer Air Liquide’s corporate venturing arm, Aliad, as well as IMI, Seventure Partners, Btov, Wellington Partners, Seroba Life Sciences and NBGI Ventures. The last four had provided $14.3m in series A funding for Quanta in 2009.