Sapiens Steering Brain Stimulation, an emerging medical technology company developing brain stimulation products, has raised EUR7.5 m from the Dutch investment group Inkef Capital, in a further extension of its series A financing round.
The proceeds will be used for the development of its Steering Brain Stimulation implant and procedure solutions to treat Parkinson’s disease (PD) and other functional brain disorders.
This additional investment supplements an initial EUR16.5 m series A funding round with Wellington Partners, Edmond de Rothschild Investment Partners, LSP and the Wellcome Trust in 2011.
Deep brain stimulation (DBS) is approved in Europe for the treatment of Parkinson’s disease, essential tremor, dystonia, obsessive compulsive disorder and more recently for the treatment of epilepsy. It is a treatment that relies on the delivery of mild electrical pulses to specific areas in the brain via an implanted lead that is connected to a battery-powered implantable pulse generator. Several clinical groups are currently investigating the application of DBS for other neurological and psychiatric disorders.
Along with the investment, Frank R. Landsberger, founder of Inkef Capital, is appointed to Sapiens’ advisory board.
"Sapiens has the promise of bringing significant therapeutic improvement to patients suffering from Parkinson’s disease and other serious brain disorders. Inkef is delighted to join a first rate investment consortium aimed at bringing Sapiens’ products to the market for the benefit of these patients," says Landsberger
Sjaak Deckers, co-founder and chief executive officer of Sapiens, adds: "Sapiens is pleased to welcome Inkef Capital as a new investor and Frank Landsberger joining our advisory board. He brings a wealth of international experience. Inkef’s investment is further recognition of the therapeutic and commercial potential of Sapiens’ steering DBS technologies, and shows the confidence that investors have in our team and our ability to successfully introduce our products on the market."
