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Aleva Neurotherapeutics SA Raises CHF 4.0 Million in Series B Financing Round


4/10/2012 10:26:51 AM

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


Read at BioSpace.com

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