Participated · Series B · May 2025

Salvia BioElectronics is developing MySalvia Therapy, an implantable neuromodulation system aimed at reducing the frequency and severity of chronic migraine attacks. The system uses two ultra-thin implants placed under the skin of the forehead and back of the head, activated on demand by an external wearable device, and is designed to be patient-controlled and minimally invasive. Salvia holds FDA Breakthrough Device Designation and is conducting the multi-center, double-blind, sham-controlled RECLAIM trial in Europe and Australia, with U.S. trials planned. The company says its approach targets patients who have not responded well to conventional therapies, addressing a large unmet need given migraine's substantial economic and disability burden. Salvia plans to use new capital to complete the RECLAIM study, pursue regulatory filings, and prepare for commercial launches in the United States, Europe, and Australia. It recently closed a $60M Series B to support those efforts, backed by a syndicate of investors. Salvia BioElectronics develops a neuromodulation platform that uses highly conforming bioelectronic foils designed to be inserted below the skin in a minimally invasive procedure to target known neural targets in chronic migraine. The company aims to translate proven neurostimulation therapy into an implantable form factor that is compatible with head anatomy, with the ambition of delivering a therapy as easy as taking medication and side-effect free. Salvia was founded in 2017 by neuromodulation industry veterans and is based in Eindhoven, the Netherlands. The startup emphasizes safety, effectiveness, affordability, and completing therapy development toward market entry. Management positions the approach as addressing an unmet need because there are currently no approved implantable devices for chronic migraine despite neurostimulation’s demonstrated effectiveness. The recent financing provides capital to advance product development and regulatory progress toward commercialization.

Led · Equity · Oct 2024

Develco develops and manufactures innovative drug formulations using modified or prolonged-release technologies, with current therapeutic focuses on severe pain and ADHD. The company handles the full value chain from development and regulatory approval through manufacturing and supply, and outlicenses approved products to international pharmaceutical companies. Demand for Develco’s products and production capacity has grown strongly in recent years, producing a backlog that exceeds twelve months of revenue and driving double-digit revenue growth. With SHS Capital’s earlier involvement since 2020, the company has strengthened its first- and second-level management and augmented its board with industry experts. Develco has expanded production capacity and operational efficiency to meet rising demand. The company plans to use new capital to further scale production, increase investment in product development, and enhance its technological capabilities to capture future growth opportunities.

Led · Equity · Jun 2023

Founded in 2010, MESI began by improving arterial assessment to make Peripheral Arterial Disease detection accessible at primary care level and is expanding to other cardiovascular conditions. Its core product set centers on digital diagnostics that help clinicians collect, understand, and contextualize data relevant for diagnosis and medical decisions. MESI serves environments from general practices to assisted care and aims to enable earlier discovery of medical conditions. In 2022 its technology led to identification of disease cases in over 220,000 primary-care patients, and more than 40,000 cases were shared digitally with specialists for second opinions. The company plans to expand its sales organization and broaden its product and services portfolio, including AI-powered predictive applications, to further digitize healthcare workflows and improve patient outcomes.

Led · Equity · Mar 2023

Simulands designs, produces, and distributes ISO-compliant simulation devices and tools for cardiovascular interventions. Its simulators deliver real haptic responses, procedural imaging guidance, and insights into device performance across different experience levels. Led by CEO Andrea Guidotti, the company supplies physician and field-specialist training solutions. Its clientele includes large MedTech companies such as Abbott, Edwards Lifesciences, and Boston Scientific, as well as emerging startups. The company intends to use the funds to further accelerate commercialization of its solutions. Simulands is headquartered in Zurich, Switzerland.

Participated · Equity · Feb 2023

Selfapy provides online courses grounded in cognitive behavioral therapy to reduce symptoms of depression and generalized anxiety disorder. The company recently added two new courses for binge-eating disorder and bulimia nervosa, becoming the first reimbursed DiGA provider for eating disorders in Germany. Led by Co-CEOs Nora Blum and Adham Kassab, Selfapy focuses on expanding its digital therapeutics portfolio. The company plans to use new funding to develop additional digital therapeutics, grow its presence in the German market, and enter other European markets. Selfapy is based in Berlin and delivers reimbursable digital health offerings within the German healthcare system. The company closed a €7m financing round to support these initiatives. Selfapy offers online therapy courses based on cognitive behavioural therapy for conditions including depression, anxiety and eating disorders. Courses can be completed anonymously and flexibly, under the supervision of psychologists. The platform already cooperates with 16 health insurance companies in Germany and Switzerland and has treated more than 15,000 patients. Selfapy plans to use the new funding for national and international expansion, further product development and additional clinical validation of its online therapy platform. The company was founded in February 2016 and is based in Berlin, Germany. Selfapy operates an online platform of therapy courses designed to help people with mental illness. The courses are supplemented by support from a psychologist via telephone or chat and are not intended to fully replace traditional therapy. The company is based in Berlin. With the new capital it plans to expand B2B sales, develop its app, and deepen cooperation with health insurance companies. Since April some courses have been reimbursable by insurers and others are expected to follow. Selfapy recently raised a seven-digit investment estimated between €1 million and €2 million from IBB Beteiligungsgesellschaft and High‑Tech Gründerfonds.