Migraine is the first cause of disability in under 50s, affecting one out of seven people, predominantly women. People with migraine experience episodes of throbbing, pulsating pain, sometimes accompanied by nausea, vomiting, and sensitivity to light that may last from a few hours to a few days.
More than 5% of patients suffer from chronic migraine, where they experience migraines for an average of 22 days per month.
Neurostimulation has been proven as an effective treatment in chronic migraine, however, as of now, there are no approved implantable devices.
While traditional neurostimulation systems are not designed to be compatible with the anatomy of the head, a neurostimulation platform company Salvia BioElectronics is developing very thin bio-electronic foils that can be placed under the skin in a minimally invasive procedure.
Raised funding
Eindhoven-based Salvia BioElectronics – a company that targets chronic migraine, has raised €26M in its Series A round of funding led by Panakes Partners, INKEF Capital, and SHS Gesellschaft fur Beteiligungsmanagement. Besides, BOM Capital, Thuja Capital, and Dolby Ventures also participated in this round.
Diana Saraceni, founder and managing partner at Panakes Partners; Roel Bulthuis, managing partner at INKEF Capital; and Sascha Alilovic, managing partner of SHS Gesellschaft fur Beteiligungsmanagement will join the Board of Directors.
The raised capital will be utilised in developing a unique neuromodulation technology that is capable of addressing known neural targets in chronic migraine and provide its therapy to those suffering from debilitating headaches.
A €5M ‘innovation loan’ from the Rijksdienst Voor Ondernemend Nederland (RVO, part of the Dutch Ministry of Economic Affairs) also has been provided in this round.
Save yourself a headache
The name Salvia is derived from the Latin word salvere, which means “to stay healthy”. In addition, the Salvia-plant has been used to treat headaches, pain, and mental disorders over centuries, according to the company.
Founded in 2017, Salvia BioElectronics is a Dutch startup active in the emerging field of bioelectronics. It was founded by neuromodulation industry experts with the ambition to develop a bioelectronics therapy for people suffering from chronic migraine, without any medications and side-effects. Building on research around known neural targets in migraine, the startup is working to develop the right form factor for stimulation that is effective, safe, and affordable.
The Salvia team consists of experienced entrepreneurs, engineers and scientists with diverse professional backgrounds and proven track-record throughout the medical device industry (Sapiens, Medtronic, Philips, St Jude, BioSensors International, Kyphon, etc).
Reportedly, the product has not yet hit the market as it needs to undergo extensive testing. Besides, the implant is yet to be approved.
Image credit: Salvia Bioelectronics
