Munich, Germany, and Eindhoven, the Netherlands, November 28, 2011 - Sapiens Steering Brain Stimulation (Sapiens) announces today that it has secured a total of €10 million additional funding from the Wellcome Trust (UK), The Michael J. Fox Foundation (USA), and Agentschap NL (NL), to develop its Steering Brain Stimulation proposition to treat Parkinson's disease and other brain disorders. These additional funds supplement an initial €13 million Series A funding round with Wellington Partners, Edmond de Rothschild Investment Partners and LSP in May 2011.
Sapiens has received a prestigious Strategic Translation Award from the Wellcome Trust, the largest charity organization in Great Britain. This €3.5 million equity investment will facilitate the development of specific components of Sapiens' high-resolution, thin-film based probe technology. Richard Seabrook, Head of Business Development at the Wellcome Trust, commented: "Deep Brain Stimulation (DBS) has proven to be a life-changing therapy for patients with Parkinson's disease. By refining the technology and reducing side effects, this project promises to bring back quality of life to more patients living with this debilitating disease."
The company has also been awarded a $370.000 research grant from The Michael J. Fox Foundation (MJFF), as part of their Therapeutics Development Initiative 2011. This Foundation sponsors research and development programs to find a cure for Parkinson's disease and to develop improved therapies for those who live with the disease today. "Our Foundation invests in accelerating the transition of promising treatment options for Parkinson's disease into clinical practice," said Todd Sherer, PhD, CEO of MJFF. "The potential in the Sapiens approach to DBS to make a difference in Parkinson's disease treatment is reflected in our funding decision."
In addition, the Dutch Government organization Agentschap NL provided €5 million funding for the development of Sapiens' advanced high-resolution probe, as well as a €1.5 million grant to develop its innovative procedure solutions, in collaboration with the departments of Neurosurgery and Neurology of the Academic Medical Center (AMC) Amsterdam, and Twente Medical Systems International BV (TMSi), a world leading company specialized in developing high-precision electrophysiological solutions.
Michel Decré, Chief Technology Officer of Sapiens commented: "The contributions from the Wellcome Trust, The Michael J. Fox Foundation and Agentschap NL demonstrate that Sapiens' unique approach of Steering Brain Stimulation resonates with renowned, international organizations that have a long-standing history of supporting highly innovative research projects. We are convinced that the Sapiens high-resolution probe, in combination with our image-based planning and programming software, will significantly improve the therapeutic outcome of DBS, and make the entire procedure more tolerable for patients."
Sjaak Deckers, Chief Executive Officer of Sapiens added: "Over €10 million of additional financing for finalizing our product development is great news for our young company. The independent recognition of the value of our proposition is a great boost to the Sapiens team, which is committed to improving the lives of more people suffering from Parkinson's disease and other degenerative or functional brain disorders."
Founder and CEO,
Sapiens Steering Brain Stimulation GmbH and BV,
Telephone: +31 408 002 121
MC Services AG
Telephone: : +49 89 2102 280
Sapiens Steering Brain Stimulation GmbH, BV is an emerging medical device company whose mission is to bring a revolutionized concept of Deep Brain Stimulation (DBS) to more patients who can benefit from this advanced treatment of degenerative or functional brain disorders, such as Parkinson's disease, dystonia and other currently emerging indications.
Sapiens' ambition is to improve the therapeutic outcome of DBS, to shorten and simplify the clinical procedure, and to improve patient comfort. Sapiens' high-resolution probe enables the reduction of stimulation-induced side effects by precisely steering the tiny stimulation currents to the intended target area. The SureSuite products - SurePlan, SurePlace and SureTune - provide an integrated, image-based solution for planning and programming an optimal DBS treatment. SureStim, the Sapiens implant, is MRI-conditionally safe, and controls the steering.
With offices in Eindhoven, the Netherlands and Munich, Germany, Sapiens was founded in 2011. The Company is a spin-out of Royal Philips Electronics, and is backed by Wellington Partners, Edmond de Rothschild Investment Partners and Life Sciences Partners (LSP). Its Steering Brain Stimulation probe, implant and image-guided programming are based upon patented technologies.
About The Michael J. Fox Foundation
As the world's largest private funder of Parkinson's research, The Michael J. Fox Foundation is dedicated to accelerating a cure for Parkinson's disease and improved therapies for those living with the condition today. The Foundation pursues its goals through an aggressively funded, highly targeted research program, and has invested over $270 million in research to date. www.michaeljfox.org
About the Wellcome Trust
The Wellcome Trust is a global charitable foundation dedicated to achieving extraordinary improvements in human and animal health. The Wellcome Trust supports the brightest minds in biomedical research and the medical humanities. Our breadth of support includes public engagement, education and the application of research to improve health. The Wellcome Trust is independent of both political and commercial interests.
About Agentschap NL
Agentschap NL is part of the ministry of Economic Affairs, Agriculture and Innovation. It consists of five thematic divisions with a centralized administration and front office. The divisions implement the government strategy around the themes Sustainability, Innovation and International business.