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£2m swallowed up by Phagenesis
Manchester-based Phagenesis has raised £2m of investment to support the development of a new class of treatments for stroke patients who suffer from dysphagia. The company, which specialises in developing technology for the treatment of swallowing dysfunction, was spun out from the University of Manchester.
The company says it has been successful in attracting funding from a number of experienced investors.
Phagenesis CEO Daniel Green said: “To raise £2m in a few months in the current economic climate is a remarkable achievement and was made possible because the Phagenesis technology has accumulated substantial amounts of exciting data in human subjects.
"The investment will enable us to undertake design and clinical trials of a production device which we expect to be available globally.”
Phagenesis says its treatment involves a device that delivers electrical pulses to the throat region that can “awaken” the brain to help restore the swallowing function. At least 50 per cent of stroke victims have impaired swallowing.
Apart from a severe reduction in quality of life, dysphagia often leads to the inhalation of liquids and the development of life-threatening pneumonia.
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