Eindhoven-based Salvia BioElectronics, a clinical-stage medical device company pioneering neuromodulation therapy for people with chronic migraine, announced the successful completion of a €53 million Series B financing round.
The round was led by Innovation Industries, a European deeptech venture capital firm, with participation from Invest-NL and EIC Fund.
Existing investors Inkef, Panakès Partners, SHS Capital, Dolby Family Ventures, BOM and Thuja Capital also joined the round.
“The funds enable Salvia to complete clinical development and prepare for the commercial launch of MySalvia Therapy, which is currently evaluated in the RECLAIM study, a multi-center, double-blind, sham-controlled study for people with chronic migraine,” said Salvia.
“The funds also allow Salvia to focus on obtaining FDA market authorization in the US and regulatory approvals in Europe and Australia.
“Salvia is transforming migraine treatment with its proprietary neuromodulation technology, a personalized, minimally invasive therapy designed for people with chronic migraine. Salvia’s ultra-thin implant targets key nerves involved in migraine, aiming to reduce the frequency and intensity of migraine attacks.”
Hubert Martens, founder and CEO of Salvia BioElectronics, said: “With the support of this strong investor syndicate, we are empowered to bring MySalvia Therapy to patients in desperate need of new treatment options.
“Chronic migraine is not ‘just a headache’. It is a debilitating neurological condition that forces people out of their social life, their work, and the life they want to live. Our mission is to restore their freedom. MySalvia Therapy is designed to provide not just relief, but meaningful and lasting impact.
“We believe people with migraine deserve the opportunity to reclaim their lives. With this funding, we are advancing toward regulatory approval and commercialization, with the ultimate goal of reaching millions of people affected by chronic migraine.”
Caaj Greebe, Partner at Innovation Industries, said: “Salvia BioElectronics is redefining the migraine therapy landscape with a bold, patient-centered approach that combines cutting-edge neuromodulation with an elegant, minimally invasive design.
“At Innovation Industries, we invest in breakthrough technologies that have the potential to solve the most pressing real-world challenges and Salvia BioElectronics does exactly that: offering life-changing solutions for millions of people living with chronic migraine. We are excited to partner with the Salvia team as they advance through their clinical development to deliver a meaningful new therapy.”