QUANTA DIALYSIS TECHNOLOGIES CLOSES OVERSUBSCRIBED SERIES E FUNDING ROUND

BEVERLY, Mass., Nov. 18, 2024 /PRNewswire/ -- Quanta Dialysis Technologies, a leader in transforming kidney care through its award-winning Quanta™ Dialysis System, has successfully closed its oversubscribed Series E Preferred Stock financing round, raising more than $60 million of additional capital.

Led by Novo Holdings, Glenview Capital and b2venture, with broad participation by existing shareholders, this latest funding round underscores strong investor confidence in Quanta's market potential to revolutionize the treatment of kidney disease across a variety of settings.

With the newly secured capital, Quanta will expand its commercial presence in the US and continue to invest in cutting-edge innovation within the sector.

"Our commitment to delivering innovative solutions for acute care has never been stronger," said Alejandro Galindo, Quanta's Chief Executive Officer. "This financing round provides the resources to solidify Quanta as the best-in-class solution across the care continuum, to significantly expand our commercial operations, while continuing to introduce enhancements that will strengthen our long-term competitive position."

"Quanta's compelling product-market fit within the $1.5 billion acute care segment is demonstrated by its ability to win contracts over well-established legacy CRRT and IHD competitors," said Robert Ghenchev, Managing Partner of Growth Investments at Novo Holdings. "The recent FDA clearance for the home setting is transformational for patients and significantly expands Quanta's addressable market into the chronic and sub-acute segments."

"The team at Quanta continues to deliver on their plan to offer the market a next generation dialysis system that provides exceptional quality care to patients, is easy to use and can provide substantial savings to providers," adds Lloyd Mandell, Managing Director of Glenview Capital. "We are confident this funding will allow more patients to have access to the Quanta Dialysis System, while allowing the company to achieve their goals of reaching more customers and driving down the cost of their products."

This milestone marks a significant step towards revolutionizing kidney care and improving patient outcomes. Furthermore, as Quanta advances its growth strategy this latest capital injection will ensure both customers and industry partners can continue to rely on the company's robust financial foundations.

Notes for editors:

About Quanta Dialysis Technologies

Quanta Dialysis Technologies is committed to making high-quality and cost-effective dialysis accessible to every patient, in every setting, with its Quanta Dialysis System. The Royal Academy of Engineering announced Quanta Dialysis Technologies as the recipient of the 2022 MacRobert Award (the UK's longest running and most prestigious award for UK engineering innovation), joining the ranks of Rolls-Royce, Arup and Raspberry Pi.

To learn more about Quanta and its products, visit www.quantadt.com.

About the Quanta Dialysis System

As a compact device with performance comparable to larger traditional machines, the Quanta Dialysis System provides the clinical versatility needed to deliver kidney replacement therapy across multiple care settings. With an intuitive user interface and only once-weekly hot rinse requirement, the device is designed to be operated by a broad range of users to bring dialysis directly to patients.

In 2022, Quanta received clearance for the first and only FDA-cleared device able to perform intermittent hemodialysis (IHD), sustained low efficiency dialysis (SLED), and CRRT (CVVHD and SCUF) without any need for bags. In 2024, Quanta received FDA-clearance for home hemodialysis (HHD), offering a high dialysate flow (500 mL/min) system.

The SC+ Hemodialysis System is now known as the Quanta Dialysis System.

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SOURCE Quanta Dialysis Technologies