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EBS Technologies Receives CE Mark for Its Brain Stimulation Device


6/5/2013 7:06:40 AM

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EBS Technologies Receives CE Marking for Its NEXT WAVE™ Brain Stimulation Device

BERLIN--(BUSINESS WIRE)-- EBS Technologies GmbH, an emerging medical device company developing the revolutionary NEXT WAVE™ brain stimulation platform for treatment of neurological disorders caused by stroke and brain injury, announced today that it has received CE marking for NEXT WAVE™ and expects to begin commercialization in Europe immediately as the result of closing a Series “B” financing round of $3.9 million (€3,0 million) from existing investors: including lead investor Earlybird Venture Partners, High-Tech Gründerfonds (HTGF), and Brandenburg Capital. Total investment in EBS Technologies is $8.7 million (€6,7 million).

“There is a very significant unmet clinical need for the treatment of vision impairment caused by a neurological disorder such as a stroke,” said Ulf Pommerening, CEO of EBS Technologies. “For example, stroke is the world’s third-leading cause of death as well as the leading cause of serious, long-term disability. There are more than 10 million stroke survivors with long-term disability in Europe and the U.S. Three out of five of these disabled persons are potentially treatable with our non-invasive EBS Next Wave™ therapy.

“We are extremely pleased that our existing investors, lead by Earlybird Venture Partners, increased their commitment to EBS, based on strong clinical results with our low-risk, non-invasive NEXT WAVE™ system,” added Pommerening. “With this Series B cash infusion, we have already begun a limited launch of the device to key opinion-leading neurologists in Europe.”

About Next Wave™

The NEXT WAVE™ technology enables a unique revitalization of selective communication paths between neurological cells, which may have been lost due to brain injury caused by trauma, stroke or tumor resection. The non-invasive therapy utilizing the patented NEXT WAVE™ technology is clinically validated to restore vision impairment by 20 to 30 percent after brain dysfunction. In addition, glaucoma patients have shown to benefit from the NEXT WAVE™ technology.

NOTE: NEXT WAVE™ is approved for sale in Europe; it is not approved for sale or investigational use in the U.S.

Contact:

Ronald Trahan Associates Inc.

Ronald Trahan, APR, +1-508-359-4005, ext. 108



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