Belgian neurostim dev Synergia Medical raises $10m in Series A

Belgian neurostimulation device developer Synergia Medical said this week it raised $10 million (EU €8.1 million) in a Series A round to help support its NAOS vagus nerve stimulation device designed to treat drug-resistant epilepsy. The NAOS system is a small-form, MRI-safe implanted neurostimulation device designed to stimulate the vagus nerve, with traditional wires replaced by optical fibers and photovoltaic cells that convert monochromatic optical energy into electrical impulses. Funds from the round will support final testing of the NAOS device as the company pursues CE Mark submission, Synergia Medical said. The round was led by newly invested Newton Biocapital and joined by new investors Financière Spin-off Luxembourgeoise, SRIW and SFPI-FPIM, the company said. As part of the funding round, Synergia said it appointed Reinhard Krickl as board chair and added Newtown Biocapital’s Dr. Guy Heynen and Financière Spin-off Luxembourgeoise’s Pierre Detrixhe as non-executive directors. “Synergia’s team is an engineering power house and it has developed some truly game-changing technologies that could form the base of a new generation of neurostimulation devices. The impressive developments to-date and ongoing research give us a great deal of confidence in what can be achieved in the next few years with this new funding. I’d like to thank the team for what they have achieved already; Jacques van Rijckevorsel on his departure from the Board and J...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Neurological Neuromodulation/Neurostimulation synergiamedical Source Type: news