Aleva Neurotherapeutics, a Lausanne, Switzerland-based company developing implants for Deep Brain Stimulation (DBS) in major neurological indications such as Parkinson´s disease or depression, closed a €9.5m Series A financing.
The round was co-led by BioMedInvest AG (managed by BioMedPartners AG) and BB BIOTECH VENTURES III, L.P. (advised by Bellevue Asset Management AG), with participation from Initiative Capital Romandie and private investors.
Aleva intends to use the funds to develop its product pipeline for neurostimulation, which is based on its proprietary microDBS™ technology addressing Deep Brain Stimulation therapy.
Founded in 2008 as a spin-off from the Ecole Polytechnique Fédérale de Lausanne (EPFL) Microsystems Laboratory, the company is developing three products:
– directSTIM™, an intelligent electrode compatible with existing DBS platforms;
– spiderSTIM™, a full solution for both intra-surgical and long-term therapeutic use; and
– the cortiSTIM™ device for cortical stimulation.
Clinical trials of directSTIM™ are scheduled to start later this year.
The company is led by CEO Jean-Pierre Rosat.
The Board of Directors is chaired by Oern Stuge, MD, and includes André Mercanzini, CTO and co-founder of Aleva, Markus Hosang of Biomedinvest AG and Juerg Eckhardt of Bellevue Asset Management AG. Paul LaViolette, Partner at SV Life Sciences and formerly COO of Boston Scientific, and Andres Lozano, Professor of Neurosurgery at the Toronto Western Hospital will act as advisors to the company.