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Phagenesis to be bought by Nestle in stages

01 September 2016

Nestle announced a deal today to buy Phagenesis, the first start-up to join the MedTECH Centre in 2010. Phagenesis are a medical device company which has developed a revolutionary, world-first treatment for dysphagia, a condition where patients are unable to swallow safely.  The condition particularly affects stroke patients and can lead to life-threatening complications, including aspiration pneumonia, malnutrition and dehydration.

Nestle Health Science will make an undisclosed upfront payment, followed by milestone-based funding, which will enable Phagenesis to complete evaluation of its Phagenyx device. Phagenyx uses electrical stimulation to help sufferers of dysphagia regain control of swallowing.

Follow this link to learn more about how Phagenyx helps patients.

The acquisition will be based on successful completion of European and U.S. development program anticipated by 2019.

With estimated sales of about 4 billion Swiss francs ($4.1 billion) out of Nestle's total 88.8 billion francs in 2015, the health business is a fast growing and profitable part of Nestle's business operations which include familiar food and beverages, such as Nescafe instant coffee and KitKat chocolate bars.

Phagenesis, based in Manchester, said the investment would enable it to accelerate the development of Phagenyx, a device that restores the neurological control of swallowing by 'kick-starting' the reorganization of the brain with an electrical signal.

The announcement is the latest success in a development story which has accomplished many significant milestones, for the company and for the MedTECH Centre.

We wish them every success!



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