Sapiens Steering Brain Stimulation, an Eindhoven, The Netherlands-based emerging medical device company, has secured a total of €10m additional funding.
The company intends to use the capital, which supplements an initial €13m Series A funding round with Wellington Partners, Edmond de Rothschild Investment Partners and LSP in May 2011 (read here), to develop its Steering Brain Stimulation proposition to treat Parkinson’s disease and other brain disorders.
In details, backers include:
– the Wellcome Trust, which committed €3.5m in equity to facilitate the development of specific components of Sapiens’ high-resolution, thin-film based probe technology;
– The Michael J. Fox Foundation, which awarded a $370.000 research grant;
– Agentschap NL, which provided €5m in funding to advance Sapiens’ advanced high-resolution probe, as well as a €1.5m grant to develop its innovative procedure solutions, in collaboration with the departments of Neurosurgery and Neurology of the Academic Medical Center (AMC) Amsterdam, and Twente Medical Systems International BV (TMSi), a company specialized in developing high-precision electrophysiological solutions.
Founded in 2011 as a spin-out of Royal Philips Electronics, and led by CEO Sjaak Deckers, and Michel Decré, CTO, Sapiens aims to improve the therapeutic outcome of Deep Brain Stimulation (DBS) to shorten and simplify the clinical procedure, and to improve patient comfort. Its high-resolution probe is designed to reduce stimulation-induced side effects by precisely steering the tiny stimulation currents to the intended target area. The SureSuite products, which include SurePlan, SurePlace and SureTune, provide an integrated, image-based solution for planning and programming an optimal DBS treatment. SureStim, the Sapiens implant, is MRI-conditionally safe, and controls the steering.
The company also has offices in Munich, Germany.