Bussum-based NextKidney , a medical device company that has developed the first portable hemodialysis device, announced on Thursday that it has raised €11.9M in a Series B round of funding.
The round included a €7.8M investment by professional and informal investors in France and The Netherlands, and a crowdfunding campaign led by OnePlanetCrowd raising €4.1M.
NextKidney says it will use the funds for clinical trials and market clearance of the company’s ground-breaking portable device.
With health insurers CZ, Zilveren Kruis and Menzis, NextKidney is working on pilots in Dutch hospitals.
John Stooker, CFO of NextKidney, says, “We are thrilled to have raised this significant amount of funding, which will allow us to bring our innovative device through clinical trials and market clearance. Our goal is to improve the lives of kidney failure patients by offering them a solution that is both effective and convenient, and we believe that our device will do more than just that.”
NextKidney says healthcare professionals and patients from all around the world expressed interest in its crowdfunding effort as they await the introduction of the Neokidney.
Everything you need to know about the device
In public health policy, the treatment of kidney failure is becoming more and more important. It is one of the major contributors to healthcare expenses in the west, where the number of kidney patients requiring dialysis is increasing by 6 per cent per year.
NextKidney aims to enhance the quality of life for dialysis patients throughout the world through the development of the Neokidney home hemodialysis device.
Hemodialysis is a procedure used to clean the blood in people whose kidneys are not functioning properly. Hemodialysis devices help filter blood in an efficient and safe manner.
NextKidney leverages innovative technologies to provide a secure, useful, and simple-to-use solution, placing the patient and their quality of life at the centre of its approach.
Jérôme Augustin, CEO of NextKidney, says, “The continued growth of the global dialysis market demands for a device that addresses current issues of manpower, logistics and patients’ quality of life. The Neokidney does this by enabling patients to perform dialysis treatments any place at any time, not hampered by logistics of fluids or infrastructure, enabling patients to longer stay connected to society and their professional lives.”
The Neokidney seeks to enhance patient outcomes and financial viability. The device has a user-friendly interface and takes minimal physical footprints in patients’ homes.
Its sorbent technology decreases the amount of fluid and energy used, providing dialysis therapy results that are comparable to those of “state-of-the-art” home hemodialysis machines.