Company News: Aleva Neurotherapeutics and Greatbatch, Inc. Collaborate on Next-Generation Device for Deep Brain Stimulation (DBS)
– Agreement includes strategic investment in Aleva’s current Series C round by Greatbatch, Inc. –
Lausanne, Switzerland, February 01, 2016 – 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 a strategic development, supply, and manufacturing relationship with Greatbatch, Inc. (NYSE:GB). In addition, Greatbatch will invest in Aleva Neurotherapeutics’ current Series C financing round.
Under terms of the development agreement, Greatbatch’s design and development team QiG Group, which is expected to be spun-off as Nuvectra Corporation, will provide Aleva with access to its unique implantable neurostimulation platform. Specifically, Aleva will receive a license to utilize Nuvectra’s platform in the field of use of deep brain stimulation for treatment of Parkinson’s disease and essential tremor. Aleva will incorporate its own proprietary microDBS™ technology platform, which includes cutting-edge directSTIM™ electrode technology for directional deep brain stimulation, into a complete system with Nuvectra’s proprietary 24-channel neurostimulator and paradigm-shifting programmers. The complete system is aimed to provide patients and doctors with an unparalleled, next-generation DBS solution resulting in increased efficacy and improved therapy control that may lead to improved outcomes for patients with Parkinson’s disease and essential tremor.
Nuvectra will also continue work with Aleva’s engineering team on the development of next-generation DBS technologies. In addition, Greatbatch will enter into an exclusive manufacturing and supply agreement for certain devices of the system.
“As a result of our partnership with Greatbatch and Nuvectra, we will significantly reduce our time-to-market and enhance our ability to deliver our novel Directional DBS therapy to patients in need,” said Andre Mercanzini, Chief Technology Officer and Founder of Aleva. “We are delighted to be working with some of the very best people in the neuromodulation business to commercialize our work.”
“We’re excited to be partnering with true pioneers in the field of DBS,” said Scott Drees, CEO of Nuvectra. “Aleva’s approach of building next-generation DBS therapies for this highly underserved market aligns perfectly with our plans to establish Nuvectra as an innovative player in the neuromodulation marketplace. We believe the Aleva partnership validates our strategy of developing platform technology that can be leveraged across multiple neurostimulation indications.”
Aleva is currently raising a Series C financing round, which will be led by Greatbatch. Existing investors BioMedPartners, BB Biotech Ventures, Banexi Ventures and Initiative Capital Romandie are also participating in the round. The proceeds will be dedicated to obtaining the CE mark for its proprietary directSTIM™ Directional Deep Brain Stimulation System and the completion of a chronic study in 60 Parkinson’s disease patients. The successful results of Aleva’s pilot study were published in BRAIN in 2014.
In October 2015, Greatbatch completed the acquisition of Lake Region Medical, with the combined company expected to be renamed Integer Holdings Corporation later this year (subject to shareholder approval).