EBS Technologies said it won CE Mark approval in the European Union – plus a cool $3.9 million in Series B financing – for its Next Wave deep-brain stimulation device, touting positive clinical data on the way.
The Berlin-based medical device company said it will put much of the cash toward the roll-out of the Next Wave DBS device, which is designed to reverse vision impairment caused by brain injury and stroke.
The $3.9 million Series B round was bankrolled by existing investors, including leader Earlybird Venture Partners alongside High-Tech Gründerfonds and Brandenburg Capital. EBS said it has drummed up a total of $8.7 million so far.
The company touted clinical results from an 82-patient study showing that Next Wave treatment improved field of vision by an average of 24%.
"There is a huge unmet clinical need for the treatment of vision impairment caused by a variety of different neurological disorders, such as neuropathy of the optic nerve, brain injury or stroke. For example, stroke alone is the world’s third-leading cause of death as well as the leading cause of serious, long-term disability," CEO Ulf Pommerening said in prepared remarks.
The company will roll out a "limited launch" of Next Wave, first to key opinion leaders treating neurological diseases in Europe. EBS said glaucoma patients can also benefit from this treatment. Next Wave is not approved for sale or IDE in the U.S.