Tue, 26/08/2014 - 15:05
Edmond de Rothschild Investment Partners’ (EdRIP) BioDiscovery 3 portfolio company, Sapiens Steering Brain Stimulation (Sapiens SBS), has been acquired by Medtronic for approximately USD200 million in cash.
Sapiens SBS, located in Eindhoven, The Netherlands, is developing a DBS system that features an advanced DBS lead with 40 individual stimulation points. This advanced system is designed to allow more precise stimulation of the intended target in the brain and may potentially result in reduced procedure time and fewer stimulation-induced side effects.
Employees at the Eindhoven facility will continue to work toward bringing this technology to market. In the future, the site will serve as a global research and development centre for Medtronic's Neuromodulation business, complementing its existing R&D operations.
Medtronic and Sapiens SBS will work to finalise product development and begin clinical research to integrate these technologies into an expanded portfolio of DBS products within Medtronic's Neuromodulation business.
EdRIP co-led the series A round of Sapiens SBS as a spin-off from Philips Healthcare in 2011 to back the founders Sjaak Deckers, Hubert Martens and Michel Decre who believed that a much better resolution of the applied current in deep brain stimulation (DBS), could significantly improve the therapeutic window of DBS.
"Since 2011, Sapiens SBS employees have worked tirelessly to develop an advanced deep brain stimulation system," says Jan Keltjens, chief executive officer at Sapiens SBS. "We are excited to join Medtronic, and look forward to collectively working to bring this and other novel technologies and therapies to neuromodulation patients worldwide that could benefit from them."
"In only about three years, Sapiens SBS has achieved a lot. Also, the way founders, management, board and investors have worked together in this company is, in my opinion, quite exceptional. Through this trade sale, in addition to making good return for our Limited Partners, it is very satisfying to see now the Sapiens' products integrated into the neurostimulation franchise of the DBS market leader, as it gives this technology the best chances of helping patients in the near future,” says Olivier Litzka (pictured), partner at EdRIP.
Sapiens was the 13th investment of BioDiscovery 3, a specialised life science investment fund managed by Edmond de Rothschild Investment Partners. Raised in 2008, the fund has invested from 2008 to 2012 in a portfolio of 14 companies. So far six of these companies have been sold through private transactions and two have been listed on public financial markets.
Mon 23/01/2017 - 14:33
Mon 23/01/2017 - 10:59
Fri 20/01/2017 - 09:49
Fri 20/01/2017 - 09:03
Mon 23/01/2017 - 14:24
Mon 23/01/2017 - 09:59
Mon 23/01/2017 - 09:47
Tue, 24/Jan/2017 - 08:54
Tue, 24/Jan/2017 - 08:52
Tue, 24/Jan/2017 - 08:50
Tue, 24/Jan/2017 - 08:48
Tue, 24/Jan/2017 - 08:46
Mon, 23/Jan/2017 - 14:36