Lausanne, Switzerland, April 10, 2012 – Aleva Neurotherapeutics, a company
developing next-generation implants for Deep Brain Stimulation (DBS) in major
neurological indications such as Parkinson´s disease or depression, today
announced the closing of a Series B financing round totaling CHF 4.0 million.
Banexi Ventures Partners acted as a lead investor in the financing, with selected
private investors also participating in the round. Existing institutional investors are
BioMedInvest AG, BB BIOTECH VENTURES III, L.P. and Initiative Capital
Romandie.
The proceeds will be used to advance Aleva’s leading-edge neurostimulation
products through clinical development up to CE marking. Aleva´s products are based
on its proprietary, next-generation microDBS™ technology for Deep Brain Stimulation
therapy (DBS).
DBS is targeting a rapidly growing patient population with Parkinson’s disease,
essential tremor and dystonia, which currently consists of over six million people
worldwide. Other potential application areas include Alzheimer´s disease and
dementia.
Aleva’s microDBS™ technology has been designed as a next-generation treatment
for target-specific brain stimulation, which is supposed to significantly reduce side
effects, potential complications and costs associated with DBS therapy.
“Aleva has built a very attractive investment case by targeting a huge and fast
growing market and by chosing a very intelligent approach to ensure fast market
penetration,” said Sophie Pierrin-Lepinard, General Partner Healthcare at Banexi
Ventures Partners. “In addition, we were impressed by Aleva´s strong, focused
management and its very versatile, proprietary technology.”
“We are very pleased to have closed a Series B financing round only a few months
after our initial financing and to have established a strong consortium of leading
private equity investors in the healthcare field,” added Jean-Pierre Rosat, CEO of
Aleva Neurotherapeutics. “We are looking forward to accelerating the development of
our pipeline and to obtaining CE marking for our products. The recent addition of two
renowned industry experts to our Board of Directors and the considerable interest of
potential partners confirm that our next-generation neurostimulation products address
a significant demand on the DBS market.”
About Aleva Neurotherapeutics:
Aleva Neurotherapeutics develops next-generation neurostimulation technologies
and devices for Deep Brain Stimulation (DBS) therapy. Its solutions are designed to
be more versatile, more precise and more efficient than currently available DBS
approaches while causing fewer side effects and complications. Based on its
proprietary microDBS™ technology, Aleva develops three novel, brain stimulating
products with different properties. The first, called directSTIM™, is an intelligent
electrode compatible with existing DBS systems; the second, called spiderSTIM™, is
a full solution for both intra-surgical and long-term therapeutic use; and the third
named cortiSTIM™ is a device for cortical stimulation. All of Aleva’s products are fully
compatible with existing DBS technologies and devices.
The company is a spin-off from the Ecole Polytechnique Fédérale de Lausanne
(EPFL) Microsystems Laboratory of Prof. Philippe Renaud. Aleva Neurotherapeutics
has raised EUR 12.8 million from renowned private and institutional investors, among
them BioMedInvest AG, BB Biotech Ventures LP, Banexi Ventures Parters, Initiative
Capital Romandie and selected private investors.
About Banexi Ventures Partners:
Banexi Ventures Partners is a French independent managing company. Banexi
Ventures Partners invests through Venture Capital Funds, in early stage companies
with high growth potential and high technology in 3 different sectors: Internet,
Electronic and Medical Technologies.
Banexi Ventures Partners has been operating as BVP team Capital for 14 years and
has invested EUR 357 million in 254 companies since 1983. Banexi Ventures
Partners has paneuropean investors and some business angels who contribute with
their expertise in their specific knowledge area.
Contact:
Aleva Neurotherapeutics
Jean-Pierre Rosat, PhD
CEO
Tel.: + 41 79 301 58 73
jp@aleva-neuro.com
Media Inquiries:
akampion
Dr. Ludger Wess / Ines-Regina Buth
Tel. +49 40 88165964 / +49 30 2363 2768
info@akampion.com