Belgium, September 12, 2022 – Synergia Medical, a preclinical medical device company that has developed NAO.VNS (Vagus Nerve Stimulation), the first non-metal optoelectronic neurostimulator for the treatment of drug-resistant epilepsy, today announced the successful completion of a €9 million Series B funding round. This allows Synergia Medical to prepare for First-In-Human clinical trials planned for 2023 and the IDE (Investigational Device Exemption) submission to the FDA in the USA. IDE allows an investigational device to be used in a clinical study to collect safety and efficacy data.
This financing was realized with a pool of historical private shareholders, Newton Biocapital, public investors (SFPI, SRIW Life Sciences, Investsud), the support of the Walloon region and joined in this latest round by the institutional investor TheClubDeal, specializing in the life sciences, technology and Smart Living sectors.
"I am delighted that we have been able to raise our Series B funding ahead of schedule which allows us to move forward with our First-In-Human clinical trials next year, as soon as the pre-clinical study is completed in Q1. We can also accelerate our regulatory milestones with the aim of filing our IDE submission in 2023. I would like to thank our historical investors for the confidence they place in us and welcome the new investors” declared Attila Borbath, CEO & Co-founder of Synergia Medical.
« This latest fund raising gives a new impetus to our goal of bringing our Vagus Nerve Stimulation treatment to the many epilepsy patients who live in the constant fear and uncertainty of an epileptic seizure.” said Sophie Baratte, Chairman of the Board of Directors of Synergia Medical.
Jean-Marc Legrand, CEO of TheClubDeal, a new investor in this round of financing, said: "We are delighted to add Synergia Medical to our portfolio of highly innovative companies in both medical and high-tech fields. Synergia Medical meets our stringent criteria of having an exciting breakthrough project managed by a highly capable team as well being protected by solid patents.”
To date, Synergia Medical has raised more than €26 million since 2016. The company has a staff of 25, essentially focused on pre-clinical studies, R&D and expertise in quality and regulatory affairs. It has a business-oriented Board of Directors with many years of operational health sector experience and a Scientific Advisory Board of world renown experts in neural stimulation and Epilepsy.