Company News: Aleva Neurotherapeutics Raises CHF 4.0 Million in Series B Financing Round
– Lead investor Banexi Ventures Partners joins strong investment consortium –
Aleva Neurotherapeutics, a company developing next-generation implants for Deep Brain Stimulation (DBS) in major neurological indications such as Parkinson´s disease or depression, today announced the closing of a Series B financing round totaling CHF 4.0 million.
Banexi Ventures Partners acted as a lead investor in the financing, with selected private investors also participating in the round. Existing institutional investors are BioMedInvest AG, BB BIOTECH VENTURES III, L.P. and Initiative Capital Romandie.
The proceeds will be used to advance Aleva’s leading-edge neurostimulation products through clinical development up to CE marking. Aleva´s products are based on its proprietary, next-generation microDBS™ technology for Deep Brain Stimulation therapy (DBS).
DBS is targeting a rapidly growing patient population with Parkinson’s disease, essential tremor and dystonia, which currently consists of over six million people worldwide. Other potential application areas include Alzheimer´s disease and dementia.
Aleva’s microDBS™ technology has been designed as a next-generation treatment for target-specific brain stimulation, which is supposed to significantly reduce side effects, potential complications and costs associated with DBS therapy.