Image Credit: Salvia Bioelectronics
Salvia Bioelectronics was founded in 2017 and is headquartered in Eindhoven, The Netherlands. It is developing the MySalvia Therapy using an ultra-thin implant that comprehensively targets key nerves involved in migraine and cluster headache.
The neuromodulation therapy is delivered by two implants: one placed just beneath the skin of the forehead and another just beneath the scalp at the back of the head. Patients receive an external, wearable device that powers the implants to deliver therapy.
Last week, Salvia announced that it had recruited $60M to bring MySalvia Therapy to market. According to the press release:
“BioElectronics, a clinical-stage medical device company pioneering neuromodulation therapy for people with chronic migraine, today announced the successful completion of a $60 million (€53 million) Series B financing round. The round was led by Innovation Industries, a European deeptech venture capital firm, 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. The funds enable Salvia 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 funds also allow Salvia to focus on obtaining FDA market authorization in the US and regulatory approvals in Europe and Australia.”