Salvia BioElectronics B.V., a neurostimulation platform company targeting chronic migraine, has raised €26 million in new financing round. Salvia BioElectronics will use the funds to develop a unique neuromodulation technology capable of addressing known neural targets in chronic migraine and provide its therapy to those suffering from debilitating headaches.
Migraine is a major cause of disability in the under-50s, affecting one out of seven people, predominantly women. People with migraine experience episodes of throbbing, pulsating pain, sometimes accompanied by nausea, vomiting, and sensitivity to light, can last anywhere from a few hours to a few days. More than five percent of patients suffer from chronic migraine, where they experience migraines for an average of 22 days per month.
Neurostimulation has been proven as an effective treatment in chronic migraine, but there are no approved devices available today. While traditional neurostimulation systems are not designed to be compatible with the anatomy of the head, Salvia BioElectronics develops bioelectronic foils that can be inserted below the skin in a minimally invasive procedure.
The Series-A investment round was led by Panakès Partners, INKEF Capital, and SHS Gesellschaft für Beteiligungsmanagement with participation from BOM Capital, Thuja Capital, and Dolby Ventures. The total raised includes a EUR 5M ‘innovation loan’ from the Rijksdienst Voor Ondernemend Nederland (RVO, part of the Dutch Ministry of Economic Affairs). Salvia is located at High Tech Campus Eindhoven.
More on Salvia here
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