Sequana Medical (SEQUA.BR) — Stock, Pipeline & Market Cap

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Private Company

Total funding raised: $102M

Market Cap: $56.3MFounded: 2006HQ: Ghent, Belgium

Sector Ranking#102 in Drug Delivery & Formulation #130 in Oncology (General)

Overview

Sequana Medical is a commercial-stage innovator focused on transforming the management of fluid overload in severe chronic diseases. Its strategy is built on two proprietary platforms: the alfapump® system, which achieved a landmark U.S. FDA approval in December 2024 for recurrent ascites, and the DSR® (Direct Sodium Removal) therapy in development for heart failure. The company is executing a U.S. commercial launch for alfapump® while advancing its pipeline, aiming to establish a new standard of care across hepatology and cardiology.

Hepatology (Liver Disease)Cardiology (Heart Failure)Oncology

Technology Platform

Two proprietary platforms: the alfapump®, a fully implanted fluid pump for ascites, and DSR® (Direct Sodium Removal), a novel therapy targeting sodium balance for heart failure.

Funding History

4

Total raised:$102M

Series D$40MAndera PartnersDec 15, 2021

Series C$32MAndera PartnersOct 15, 2019

Series B$20MCapricorn Venture PartnersSep 15, 2017

Series A$10MCapricorn Venture PartnersJun 15, 2015

Opportunities

The U.S.

FDA approval for alfapump® opens the largest global market for ascites management, with a first-mover advantage.

The DSR platform represents a potentially disruptive, disease-modifying approach in the massive heart failure market, specifically targeting diuretic-resistant patients with high unmet need.

Risk Factors

Key risks include commercial execution challenges in the U.S.

launch (reimbursement, adoption), clinical and regulatory setbacks for the pre-approval DSR program, and ongoing financial requirements necessitating further capital raises amidst potentially high cash burn.

Competitive Landscape

For ascites, alfapump® competes primarily against the burdensome standard of care (paracentesis) with no direct device competitors. In heart failure, DSR will enter a crowded market but with a unique mechanism targeting direct sodium removal, potentially carving out a niche in diuretic-resistant patients.