Friday, December 2, 2022

Diality Closes $24 Million of Series B2 Financing

Funding to Support Regulatory Clearance and Market Entry for its Versatile Hemodialysis System

Diality, Inc., a medical device company that is developing a versatile hemodialysis system to address the unmet technology needs of the evolving dialysis industry, announced the close of a $24 million Series B2 investment round.

“Driven by rising costs and poor outcomes associated with in-center dialysis, and the rapid shift toward value based care, dialysis delivery is becoming decentralized. To accommodate cost-effective delivery in all care settings, hemodialysis machines need to be user friendly for non-specialty nurses, patients, and care partners,” says Osman Khawar, M.D., Chief Executive Officer at Diality. “To meet the needs of prescribing physicians and their patients in acute, sub-acute, chronic, and home settings, a versatile machine also needs to be capable of delivering a wide range of dialysis prescriptions. We see the lack of a machine with this level of versatility in a compact footprint as a lingering market gap that we seek to fill by bringing to market a best-in-class system capable of delivering the intense dialysis doses commonly prescribed for patients receiving three dialysis treatments per week, in addition to lower-intensity doses suitable for more frequent dialysis.”

The Series B2 round of funding will be used for activities to support 510(k) clearance, preparing for the home clinical study and to build a U.S. commercial organization. “The timing of this round positions us to leverage growing interest in this relatively new category of hemodialysis solutions where we see opportunity for innovation that better addresses the distinct needs of dialysis providers across all segments of the market. Diality is known for innovation, its speed to market and the efficient use of its capital, which will provide significant value to our investors,” added Khawar.

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