Salvia BioElectronics Raises $60M in Series B for Migraine Therapy Launch

Salvia BioElectronics, a company at the forefront of medical innovation, has successfully secured $60 million (€53 million) in a Series B funding round. This round was spearheaded by Innovation Industries, a leading venture capital firm in the European deeptech space, and saw participation from entities such as Invest-NL and the EIC Fund. Existing backers like Inkef, Panakès Partners, SHS Capital, Dolby Family Ventures, Brabant Development Agency (BOM), and Thuja Capital also contributed. These funds are earmarked for the final stages of clinical development and the commercial rollout of MySalvia Therapy across the United States, Europe, and Australia.

Salvia BioElectronics, headquartered in Eindhoven, the Netherlands, is making strides in the field of neuromodulation therapy aimed at individuals suffering from chronic migraines. Their proprietary technology, MySalvia Therapy, employs a personalized, minimally invasive approach designed to alleviate the severity and frequency of migraine episodes. Currently, this therapy is under evaluation in the RECLAIM study, a rigorous multi-center, double-blind, sham-controlled trial focusing on chronic migraine sufferers.

The latest funding will support Salvia's efforts to secure FDA market authorization in the United States, along with regulatory approvals in Europe and Australia. By advancing their clinical development, Salvia aims to bring their innovative therapy to patients who have long awaited effective treatment options. Chronic migraine is a debilitating condition that extends beyond mere headaches, significantly hindering individuals' social and professional lives. Salvia's mission is to restore these individuals' ability to lead fulfilling lives.

Hubert Martens, the founder and CEO of Salvia BioElectronics, expressed his gratitude for the investor support, highlighting the pressing need for new treatment solutions. He emphasized the impact of chronic migraines on millions of people worldwide and the importance of offering them a chance to reclaim their lives. Martens is optimistic that MySalvia Therapy will provide significant and enduring relief, facilitating a notable improvement in patients' quality of life.

Globally, migraines are a major contributor to disability, with an estimated cost of $110 billion per year in lost productivity and healthcare expenses in the EU and US alone. Unfortunately, many existing treatments fail to deliver adequate relief, resulting in a high dropout rate among patients within the first year of treatment. This underscores the urgent necessity for alternative therapeutic options.

Caaj Greebe, a Partner at Innovation Industries, lauded Salvia BioElectronics for its innovative and patient-focused approach. He noted that the company's cutting-edge technology has the potential to revolutionize migraine treatment, offering transformative solutions to millions affected by chronic migraines. Innovation Industries is committed to investing in groundbreaking technologies that address critical real-world challenges, and they are enthusiastic about partnering with Salvia as it progresses through clinical development.

Salvia’s neuromodulation technology is designated as an FDA Breakthrough Device and offers a promising alternative for those who have not found success with existing treatments. Early clinical data indicates that this technology could significantly reduce both the frequency and intensity of migraine attacks. The RECLAIM study is actively underway in Europe and Australia, with plans to conduct additional studies in the United States to further evaluate the therapy's safety and efficacy.

The MySalvia Therapy’s design entails two ultra-thin implants placed just beneath the skin on the forehead and at the back of the head. This method is both user-activated and on-demand, allowing patients to control their treatment with an external wearable device. This innovation not only targets migraines but also shows potential for treating cluster headaches, a severe neurological condition with limited effective treatment options.

By pioneering advanced neuromodulation therapy, Salvia BioElectronics is poised to transform the landscape of migraine treatment, offering meaningful relief to those in need.