Aleva Neurotherapeutics Raises USD 8M and Gets CE Mark Certification
17.12.2019
EPFL spin-off Aleva Neurotherapeutics announces today having raised USD 8M in a Series E financing round and securing CE Mark certification for its Deep Brain Stimulation (DBS) therapy products, used in indications including Parkinson's Disease.
TOP 100 Swiss Startup and Venture Kick alum Aleva Neurotherapeutics startup helps neurosurgeons and neurologists reduce surgical and follow-up times thanks to the uniqueness of its core technology and the major unmet needs in treating neurological disorders. Patients benefit from a decrease in debilitating side effects, and payers see a reduction in cost-of-care.
Aleva now raised USD 8 million in the first closing of a Series E financing round from existing and undisclosed new private investors. Up to now, the firm has raised over USD 50 million from institutional investors, such as Forrestal Capital, Kinled Holding, BioMedPartners, BB Biotech Ventures LP, Kreaxi and Initiative Capital Romandie, as well as from select private investors.
Its flagship product, the directSTIMTM Deep Brain Stimulation System for neurological indications is now also CE Mark certified, making it the first and only emerging technology company to-date to receive the CE-Mark.
"The CE Mark is a significant milestone in Aleva´s development. We have demonstrated that we can achieve and maintain technological leadership in our field, and we are now ready to expand our market in Europe while remaining focused on the US FDA regulatory process", said André Mercanzini PhD, CEO of Aleva Neurotherapeutics.
