Synergia Medical, a preclinical medical device company, has announced the successful completion of a €9 million Series B funding round to advance its NAO.VNS (Vagus Nerve Stimulation) system. This innovative, non-metal optoelectronic neurostimulator is designed for the treatment of drug-resistant epilepsy, offering a potential breakthrough for patients who do not respond to conventional therapies.
The funding will enable Synergia Medical to prepare for First-In-Human clinical trials, scheduled to begin in 2023, pending the completion of preclinical studies in Q1. The company also plans to accelerate regulatory milestones, including the submission of an Investigational Device Exemption (IDE) to the FDA in the USA. The IDE will allow the investigational device to be used in a clinical study to collect safety and efficacy data.
Novel Approach to Vagus Nerve Stimulation
NAO.VNS represents a significant advancement in vagus nerve stimulation technology. Unlike traditional metal-based neurostimulators, NAO.VNS utilizes optoelectronics, potentially offering improved biocompatibility and reduced risk of complications. Vagus nerve stimulation has shown promise in reducing seizure frequency and severity in patients with drug-resistant epilepsy, but existing devices have limitations.
Investor Confidence and Future Plans
The Series B funding round included participation from historical private shareholders, Newton Biocapital, public investors (SFPI, SRIW Life Sciences, Investsud), and TheClubDeal. Attila Borbath, CEO & Co-founder of Synergia Medical, expressed gratitude to investors and highlighted the importance of the funding for advancing clinical trials and regulatory submissions. Sophie Baratte, Chairman of the Board of Directors of Synergia Medical, emphasized the company's goal of bringing Vagus Nerve Stimulation treatment to epilepsy patients who live in constant fear and uncertainty of an epileptic seizure.
Jean-Marc Legrand, CEO of TheClubDeal, noted that Synergia Medical met their criteria of having an exciting breakthrough project managed by a highly capable team and being protected by solid patents.
With this latest funding, Synergia Medical has raised more than €26 million since 2016. The company has a staff of 25, primarily focused on pre-clinical studies, R&D, and expertise in quality and regulatory affairs.
