Salvia BioElectronics secures seed funding to develop minimally invasive neuromodulation therapy
31 January, Eindhoven, The Netherlands – Salvia BioElectronics B.V. announced today that the Brabant Startup Fund (BSF) joins the current investment syndicate led by Thuja Capital and Brabant Development Agency (BOM).
The BSF commitment together with support received from the European Commission Eurostars and ECSEL programmes brings the total seed funding to € 3.1 million. Salvia develops a minimally invasive bioelectronics solution for people suffering from chronic neurological disease.
Salvia develops its neuromodulation technology and product concept in preparation for its upcoming series-A round that will support the realization of the product and the clinical studies towards CE marking and commercial launch. Hubert Martens, CEO of Salvia BioElectronics, noted: “We are very pleased to attract this additional funding that allows us to further mature our technology before initiating the product development phase. This will translate in a substantial acceleration of the product development phase after the upcoming series-A funding round.”
Gerard Spanbroek, director of the Brabant Startup Funded added: “The BSF supports early-stage innovative companies with a strong growth potential. We are keen on supporting Salvia towards their next growth phase. We are impressed by the progress that this experienced team realized in a short amount of time and see significant potential health benefits of their novel product concept.”