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Friday, May 27, 2016

Company News: Aleva Neurotherapeutics Raises USD 18 Million in Series C Financing Round

- Greatbatch, Inc. acts as strategic lead investor -

Aleva Neurotherapeutics, a leading company developing next-generation implants for deep brain stimulation (DBS) in major neurological indications such as Parkinson’s Disease and Essential Tremor, today announced that it has raised USD 18 million in a Series C financing round. The round was led by Greatbatch, Inc. (NYSE:GB), a strategic lead investor contributing a total of $5 million to the transaction. In February 2016, Aleva and Greatbatch announced the closing of a strategic development, supply and manufacturing agreement. In addition, Aleva will combine their innovative directional lead technology with the proprietary neurostimulation platform of Nuvectra™, a recent spin-off from Greatbatch.

Monday, May 23, 2016

Company News: InDex Pharmaceuticals receives grant from Sweden´s innovation agency Vinnova for pre-clinical development of DIMS compounds in inflammation

InDex Pharmaceuticals AB today announced it has been granted 1.825 million SEK from Sweden´s innovation agency Vinnova to develop new, more effective and safer treatments for inflammatory diseases. Of 535 applications and 84 funded projects, InDex received one of the largest grants.

The grant is for an R&D project to evaluate selected compounds from the Company’s technology platform in inflammatory disease models. InDex has a large portfolio of proprietary oligonucleotides called DNA-based ImmunoModulatory Sequences (DIMS) that function as immunomodulatory agents by binding to Toll-like receptor 9 (TLR9). InDex Pharmaceutical’s lead drug candidate cobitolimod is a TLR9 agonist in late-stage clinical development for moderate to severe active ulcerative colitis, a debilitating, chronic inflammation of the large intestine. InDex aims to broaden the development pipeline and, with the grant from Vinnova, will advance additional DIMS compounds further in preclinical development for other inflammatory indications.