Aleva Neurotherapeutics Raises USD 13 Million in Latest Financing Round

Accolade to Acquire PlushCare

Accolade to begin offering virtual primary care and mental health consultations directly to members as a result of the acquisition.

CareDx to Present New Heart Transplant Data at the International Society for Heart and Lung Transplantation Annual Meeting

Experts will present its latest heart research, which was accepted at the International Society for Heart and Lung Transplantation (ISHLT) Annual Meeting & Scientific Sessions, set to take place between April 24-28, 2021.

Dermatology Experts Present Latest Information at AAD VMX 2021

The AAD VMX 2021, a virtual meeting experience taking place April 23-25, will feature the latest information on skin, hair, and nails, presented by world-renowned experts in the field of dermatology.

Aleva Neurotherapeutics, a leading developer of implants for deep brain stimulation (DBS) in major neurological indications such as Parkinson’s Disease and Essential Tremor, today announced that it has raised USD 13 million in a Series D financing round. The round was led by Forrestal Capital, a fund with specific experience in neurological devices. Aleva’s existing investors have also participated in the round.

The company reports that the proceeds of the financing will be used to complete the acquisition of a CE Mark for Aleva’s proprietary directSTIM™ Directional Deep Brain Stimulation System. The successful results of Aleva’s directSTN pilot study were published in Brain and strongly suggest the potential of directional stimulation in improving surgical outcomes.

“We would like to thank both our new and existing investors for this significant support towards the registration of our products, designed to deliver improved therapeutic outcomes for Parkinson´s patients. We have completed the first closing, but are still accepting additional investments from qualified investors for a limited time,” said André Mercanzini PhD, Founder of Aleva.

In August 2017, Aleva and Nuvectra (NASDAQ: NVTR) approved increasing the scope of their Development Agreement, which combines Aleva’s innovative directional lead technology with Nuvectra’s proprietary neurostimulation platform. In addition, Aleva will continue its supply and manufacturing agreement with Integer (NYSE: ITGR), a strategic investor in Aleva’s previous Series C Financing.

Aleva’s DBS devices are designed to be more precise and efficient than currently-available DBS approaches, while causing fewer side effects. Based on its proprietary technology, Aleva has developed two novel brain stimulating products with different properties. The first, directSTIM™, is a complete Directional DBS System for long-term therapy in Parkinson’s disease and Essential Tremor; the second, spiderSTIM™, is a full solution for intra-surgical placement of DBS electrodes.

The company is a spin-off from the Swiss Federal Institute of Technology in Lausanne (EPFL) Microsystems Laboratory of Prof. Philippe Renaud. Aleva Neurotherapeutics has now raised USD 46 million from renowned institutional investors, among them Forrestal Capital, Kinled Holding, BioMedPartners (through its BioMedInvest-II LP Fund), BB Biotech Ventures LP, Kreaxi and Initiative Capital Romandie, as well as from select private investors.

 

spot_img

DON'T MISS

Subscribe to Medical Device News Magazine

Related Articles