Salvia BioElectronics Secures $60M to Advance Migraine Therapy
Salvia BioElectronics has officially completed an impressive $60 million Series B funding round, marking a significant milestone in its mission to revolutionize migraine therapy. This funding round was spearheaded by Innovation Industries and included notable participation from Invest-NL and the EIC Fund, alongside existing investors like Inkef, Panakès Partners, SHS Capital, Dolby Family Ventures, BOM, and Thuja Capital.
Funding Purpose and Clinical Development
The proceeds from this funding will substantially support Salvia in completing the clinical development and preparing for the commercial launch of its innovative MySalvia Therapy. This pioneering therapy focuses on treating chronic migraines and is undergoing evaluation in a multi-center clinical study known as the RECLAIM study. This study is designed to assess its efficacy in patients suffering from chronic migraines.
Breaking Ground in Neuromodulation Therapy
Salvia BioElectronics is at the forefront of medical technology with its pioneering approach in neuromodulation therapy. The company declares that its MySalvia Therapy, featuring a proprietary ultra-thin implant, is poised to significantly improve the lives of chronic migraine patients by reducing the frequency and severity of migraine attacks. The goal is to offer a personalized, minimally invasive option that provides patients with the control they need over their condition.
A Call to Action for Migraine Relief
Hubert Martens, the founder and CEO of Salvia BioElectronics, expressed the importance of this funding in bringing MySalvia Therapy to patients who are in urgent need of effective treatment options. He noted that chronic migraines often greatly diminish quality of life, necessitating an urgent shift toward innovative therapeutic solutions.
The Urgent Need for Alternative Treatments
Migraine is a leading cause of disability globally, accounting for an estimated loss of $110 billion yearly due to diminished productivity and healthcare costs in regions like the EU and the US. Sadly, many chronic migraine sufferers find little relief with current treatments, leading to a considerable dropout rate within the first year of medication. This situation stresses the critical demand for alternative therapeutic approaches.
Innovation in Migraine Therapy
With the designation of a Breakthrough Device by the FDA, Salvia aims to provide a credible new option for individuals who have not responded to available therapies. Initial findings from clinical trials show promising results in mitigating migraine attacks, which is a significant step forward for the therapeutic landscape. The current RECLAIM study is already underway in multiple regions, and additional studies are also floated in the pipeline for further evaluation in the US.
Patient-Centric Therapy Approach
MySalvia Therapy is designed to empower patients by placing them at the helm of their treatment journey. It entails the utilization of two ultra-thin implants that are inserted just beneath the skin of the forehead and back of the head. The therapy is activated through a wearable device, allowing patients to deliver targeted stimulation at their moment of need, precisely when a migraine hits.
Exploring New Horizons inTreatment Options
Moreover, Salvia BioElectronics is exploring the potential of its technology to extend beyond migraine treatment to conditions such as cluster headaches, which often lack effective therapies.
About Salvia BioElectronics
Founded in 2017 and headquartered in Eindhoven, Salvia BioElectronics is on a mission to revolutionize neuromodulation therapy for migraine treatment. The company is led by a seasoned team equipped with extensive expertise in medical devices and neuromodulation. Through the support of significant investors, Salvia is dedicated to advancing its clinical development across the US, Europe, and Australia while continually seeking innovative solutions for chronic pain management.
Frequently Asked Questions
What is MySalvia Therapy?
MySalvia Therapy is a groundbreaking neuromodulation treatment designed to reduce the frequency and severity of chronic migraines using ultra-thin implants.
Who is funding Salvia BioElectronics?
The company successfully raised $60 million through a Series B funding round led by Innovation Industries with participation from other notable investors.
What is the RECLAIM study?
The RECLAIM study is a clinical trial currently evaluating the safety and effectiveness of MySalvia Therapy in patients with chronic migraines across multiple centers.
Why is there a need for alternative migraine therapies?
Current migraine treatments often fall short, and there is a high discontinuation rate among chronic patients, highlighting the need for new and effective solutions.
What is the future outlook for Salvia BioElectronics?
Salvia aims to advance through clinical development and achieve regulatory approvals, ultimately striving to deliver meaningful and lasting relief to millions suffering from chronic migraines.
