Date: 2016-04-19
Type of information: Series A financing round
Company: G-Therapeutics (Switzerland)
Investors: Gimv (Belgium) INKEF Capital (The Netherlands) Wellington Partners (UK) Life Science Partners (LSP) (The Netherlands) G-Therapeutics founders/management
Amount: € 26 million
Funding type: series A financing round
Planned used: The investment will fund G-Therapeutics’s clinical trials up to CE mark (EU) and IDE (US) approval. The company develops an implantable neuro stimulator for patients with incomplete spinal cord injury. This device supports motor function recovery for better and faster rehabilitation by stimulating the spinal cord. The initial target population of G-Therapeutics are patients with incomplete spinal cord injury, where some nervous signals are still able to travel past the injured area. The neuro-stimulation device that G-Therapeutics develops uses controlled electrical stimulation in combination with intensive physical training to encourage the nervous system to create detours around destroyed neurons that act like a roadblock and prevent movement commands from traveling down the spinal cord and along the nerves, allowing the command to get through. The company can show impressive pre-clinical data, being confirmed by early human data.
Others: * On April 19, 2016, G-Therapeutics announced that the company has secured up to € 26 million in a Series A financing round from an investment syndicate consisting of Gimv, Wellington Partners, LSP and Inkef Capital alongside the company’s founders/management. This investment will fund the company’s clinical trials up to CE mark (EU) and IDE (US) approval. G-Therapeutics was founded in 2014 as a spin-off of the Center for Neuro-Prosthetics of École Polytechnique Fédérale de Lausanne (EFPL, Switzerland), where its clinical center is located. Technology development happens in Eindhoven (The Netherlands). G-Therapeutics is led by an experienced management which consists of top level neuroscientists, complemented by entrepreneurs with a track record in developing breakthrough science into products.
Therapeutic area: CNS diseases
