Campus resident Salvia BioElectronics secures seed funding to develop minimally invasive neuromodulation therapy
Jan 31, 2019 9:54:47 PM. By: Hilde de Vocht
Eindhoven, January 31st 2019 – Eindhoven start-up Salvia BioElectronics B.V. announced today that the Brabant Startup Fund (BSF) joins the current investment syndicate led by the Brabant Development Agency (BOM) and Thuja Capital, which is complemented with a loan from the Netherlands Enterprise Agency (RVO.nl).
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 earlystage 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.”