Synergia Medical announced the completion of an additional €3.8 million of Series B funding, allowing the preparation for FIH clinical trials planned for 2024
Synergia Medical, a preclinical medical device company that has developed NAO.VNS (Vagus Nerve Stimulation), the first non-metal optoelectronic neurostimulator for the treatment of drug-resistant epilepsy, announced the successful completion of an additional €3.8 million of Series B funding bringing the total to €12.8 million. This allows Synergia Medical to prepare for First-In-Human clinical trials planned for 2024.
This additional financing was realized with a pool of investors: Invest BW, the investment and financing company of Walloon Brabant, various private investors from TheClubDeal, and the Berrebi family represented by Mr Jacques Berrebi. These new investors join the historical private shareholders, Newton Biocapital, TheClubDeal, and public investors (SFPI, SRIW Life Sciences, Investsud).
“I am delighted to welcome our new investors and thank them for the confidence they place in Synergia Medical. Bringing our Vagus Nerve Stimulation treatment to the many epilepsy patients who live in the constant fear and uncertainty of an epileptic seizure is vital and these additional funds reinforce our ability to prepare for our First-In-Human clinical trials in early 2024.” declared Attila Borbath, CEO & Co-founder of Synergia Medical.
“I believe that Synergia Medical’s epilepsy treatment has huge potential and I am delighted to help them finance their development, which has the potential to bring significant quality of life improvements to epilepsy patients.” said Jacques Berrebi, chairman of the investment group Bercom International.
To date, Synergia Medical has raised more than €30 million since 2016. The company has a staff of 27, essentially focused on pre-clinical studies, R&D and expertise in quality and regulatory affairs. It has a business-oriented Board of Directors with many years of operational health sector experience and a Scientific Advisory Board of world renown experts in neural stimulation and Epilepsy.
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About Epilepsy and Drug-Resistant Epilepsy
Epilepsy is the 4th most common neurological disorder after migraine, stroke, and Alzheimer’s disease affecting 65 million people worldwide. The conventional medical treatment is with anti-epileptic drugs (AEDs) but 30% of the epileptic population see their symptoms poorly controlled with drugs and continue to have seizures that impair their health and daily life despite medication intake. They are consequently diagnosed with DRE (drug-resistant epilepsy). More than 1.15 million patients are currently waiting for an effective treatment, representing an estimated obtainable market of c.€20 billion.
About NAO.VNS – Optoelectonics for Vagus Nerve Stimulation
NAO.VNS is a new generation metal free neurostimulator that can reduce epileptic seizures by stimulation of the vagus nerve (VNS), by using a new technology of materials to improve patients’ life. Optoelectronics send safe, personalized neural stimulation pulses in a magnetic field to the Vagus Nerve. Neural stimulation is a clinically proven solution and the last resort for these patients. It involves the implantation of a small pacemaker connected to leads that deliver mild electric signals to targeted nerves or brain cells. NAO.VNS uses optical fibers and glass cover, instead of metal wires and casing.
About Synergia Medical – www.synergia-medical.com
Synergia Medical is an ISO 13485 certified medical device company that has developed NAO.VNS (Vagus Nerve Stimulation), the first non-metal optoelectronic neurostimulator for the treatment of drug-resistant epilepsy.
Operational since 2015, Synergia Medical is based in Belgium and employs 27 employees. It was co-founded by Attila Borbath, CEO and Pascal Doguet, inventor of NAO.VNS. The company holds a portfolio of 9 patents in 15 families. Synergia Medical is supported by Wallonia Region grants and by European Innovation Council (EIC) through an Accelerator financing.
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