Aleva Neurotherapeutics' flagship product is the directSTIM deep brain stimulation (DBS) system, which incorporates first-in-class directional electrode technology designed to provide more precise, optimized stimulation and potentially reduce side effects. The company was awarded the CE Mark for directSTIM and will begin direct sales through a post-market clinical follow-up study in select European neurological clinics. Aleva says it is the only emerging technology company awarded a CE Mark for DBS and has published pilot results supporting the potential of directional stimulation to improve surgical outcomes. The company has also formed a joint venture, Adept Neuro SA with Dixi Medical SAS, targeting regulatory approval for its core technology in epilepsy surgery. With European market entry secured, Aleva plans to drive efforts toward US market entry and the US FDA regulatory process. Financially, Aleva announced an $8 million first closing of a Series E financing and has previously raised over $50 million from institutional and private investors. Aleva Neurotherapeutics is an EPFL spinoff developing implants for directional deep brain stimulation (DBS) targeting Parkinson’s disease and Essential Tremor. Its core products are directSTIM, a complete directional DBS system for long-term therapy, and spiderSTIM, a solution for intra-surgical placement of DBS electrodes. The company says its devices aim to improve precision and efficiency while reducing side effects compared with current DBS approaches. Aleva reported successful results from its directSTN pilot study published in Brain, supporting the potential benefit of directional stimulation. Proceeds from the recent financing will be used to complete acquisition of a CE Mark for directSTIM and the company has completed a first closing while still accepting qualified investors for a limited time. Aleva also maintains a development agreement with Nuvectra to combine its directional lead technology with Nuvectra’s neurostimulation platform and a supply and manufacturing agreement with Integer. To date the company has raised USD 46 million from institutional and private investors. Aleva Neurotherapeutics develops next-generation neurostimulation technologies and devices for Deep Brain Stimulation (DBS) based on its proprietary microDBS™ technology. The company has developed two products: directSTIM™, a directional DBS system for long-term therapy in Parkinson’s Disease and Essential Tremor, and spiderSTIM™, a solution for intra-surgical placement of DBS electrodes. Aleva intends to use the new funding to obtain the CE mark for directSTIM™ in 2017. The company has raised $42M to date. Leadership includes founder and CTO André Mercanzini, PhD, and Executive Chairman Oern Stuge, MD. Aleva is a spin-off from the EPFL Microsystems Laboratory in Lausanne. Aleva Neurotherapeutics is an EPFL spin-off developing next-generation neurostimulation technologies for Deep Brain Stimulation (DBS) in major neurological indications such as Parkinson’s disease and essential tremor. The company’s products are based on its proprietary microDBS technology and are designed to be more precise and efficient than current DBS approaches while causing fewer side effects. Aleva has developed two products: directSTIM, a complete directional DBS system for long-term therapy, and spiderSTIM, a solution for intra-surgical placement of DBS electrodes. The company reports it has raised EUR 14.5 million from private and institutional investors to advance its programs. Aleva says it has reached major milestones and is entering a crucial phase to advance and commercialize its directional DBS lead. The recent appointment of Philippe Dro to the Board is intended to accelerate Aleva’s commercial and business development activities so its products can reach the market for patients. Aleva Neurotherapeutics develops next-generation neurostimulation products based on its proprietary microDBS™ technology for target-specific deep brain stimulation. Its pipeline includes directSTIM™, an electrode compatible with existing DBS systems; spiderSTIM™, a full intra-surgical and long-term solution; and cortiSTIM™ for cortical stimulation. All products are designed to be compatible with existing DBS technologies and aim to reduce side effects, complications and costs associated with DBS therapy. The company says proceeds will advance its products through clinical development up to CE marking and accelerate pipeline development and partner discussions. Aleva is a spin-off from the EPFL Microsystems Laboratory of Prof. Philippe Renaud and was founded in 2010. Prior to this round the company had raised EUR 12.8 million from private and institutional investors.

Total raised

$73M

Funding rounds

6

Latest round

Series E

Latest activity

Dec 2019