G-Therapeutics, a Lausanne, Switzerland-based developer of an implantable neuro stimulator for patients with incomplete spinal cord injury, secured up to €26m in Series A funding.
Backers included Gimv, Wellington Partners, LSP and Inkef Capital alongside the company’s founders/management.
The company intends to use the funds to advance clinical trials up to CE mark (EU) and IDE (US) approval.
Founded in 2014 as a spin-off of the Center for Neuro-Prosthetics of the renowned École Polytechnique Fédérale de Lausanne (EFPL, Switzerland) and led by Sjaak Deckers, CEO, G-Therapeutics develops an implantable neuro stimulator for patients with incomplete spinal cord injury.
The initial target population are patients with incomplete spinal cord injury, where some nervous signals are still able to travel past the injured area. The company’s neuro-stimulation device uses controlled electrical stimulation in combination with intensive physical training to encourage the nervous system to create detours around destroyed neurons that act like a roadblock and prevent movement commands from traveling down the spinal cord and along the nerves, allowing the command to get through.
G-Therapeutics operates a technology development center in Eindhoven (The Netherlands).
FinSMEs
20/04/2016