Aleva Neurotherapeutics, a company developing next-generation implants for Deep Brain Stimulation (DBS) in major neurological indications such as Parkinson´s disease or depression, has closed a Series B financing round totalling CHF 4.0 million.
Banexi Ventures Partners acted as a lead investor in the financing, with selected private investors also participating in the round. Existing institutional investors are BioMedInvest AG, BB BIOTECH VENTURES III, LP and Initiative Capital Romandie.
The proceeds will be used to advance Aleva’s leading-edge neurostimulation products through clinical development up to CE marking. Aleva´s products are based on its proprietary, next-generation microDBS technology for Deep Brain Stimulation therapy (DBS).
DBS is targeting a rapidly growing patient population with Parkinson’s disease, essential tremor and dystonia, which currently consists of over six million people worldwide. Other potential application areas include Alzheimer´s disease and dementia.
Aleva’s microDBS technology has been designed as a next-generation treatment for target-specific brain stimulation, which is supposed to significantly reduce side effects, potential complications and costs associated with DBS therapy.
“Aleva has built a very attractive investment case by targeting a huge and fast growing market and by chosing a very intelligent approach to ensure fast market penetration,” says Sophie Pierrin-Lepinard, General Partner Healthcare at Banexi Ventures Partners. “In addition, we were impressed by Aleva´s strong, focused management and its very versatile, proprietary technology.”
“We are very pleased to have closed a Series B financing round only a few months after our initial financing and to have established a strong consortium of leading private equity investors in the healthcare field,” says Jean-Pierre Rosat, CEO of Aleva Neurotherapeutics. “We are looking forward to accelerating the development of our pipeline and to obtaining CE marking for our products. The recent addition of two renowned industry experts to our Board of Directors and the considerable interest of potential partners confirm that our next-generation neurostimulation products address a significant demand on the DBS market.”
