Eindhoven-based Salvia BioElectronics, a clinical-stage medical device company, announced that it has secured €53M in a Series B financing round.
The funding round was led by Innovation Industries, 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.
Innovation Industries is a leading European deep tech venture capital firm with €1B in capital under management.
The firm invests in visionary science and engineering-based companies that tackle the world’s most pressing challenges.
“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”, said Caaj Greebe, Partner at Innovation Industries. “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.”
Fund utilisation
The Dutch company will use the funds 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.
The company will also use the capital to obtain FDA market authorisation in the US and regulatory approvals in Europe and Australia.
Salvia BioElectronics: Transforming migraine treatment
Migraine is one of the leading causes of disability worldwide, resulting in an estimated $110B annually in lost productivity and medical costs in the EU and US alone.
Current treatment options do not always provide sufficient relief, with the majority of chronic patients discontinuing their medication within the first year. This high dropout rate highlights the urgent need for alternative therapies.
Founded in 2017 by Hubert Martens, Salvia BioElectronics is transforming migraine treatment with its proprietary neuromodulation technology, a personalised, 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.
Salvia’s FDA-approved Breakthrough Device offers a hopeful new treatment for patients who haven’t found relief with other therapies.
Early data shows that this neuromodulation technology may help decrease the frequency and intensity of migraine attacks.
The RECLAIM study is currently being conducted in Europe and Australia, with more studies planned in the U.S. to check the therapy’s safety and effectiveness.
Salvia’s implant is less invasive than traditional options, making surgery easier and recovery faster, while also being discreet in appearance.
MySalvia Therapy puts patients in control of their treatment.
It uses two thin implants placed just under the skin on the forehead and the back of the head.
Patients can activate the therapy at any time using a wearable device; by pressing a button, they can deliver stimulation when and where they need it.
This therapy also has the potential for treating cluster headaches, which are extremely painful and have few effective treatments available.
“With the support of this strong investor syndicate, we are empowered to bring MySalvia Therapy to patients in desperate need of new treatment options,” says Hubert Martens, founder and CEO of Salvia BioElectronics. “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 a meaningful and lasting impact. We believe people with migraine deserve the opportunity to reclaim their lives.”
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