Dutch medical device company Salvia BioElectronics has secured $60m in a Series B funding round to advance its migraine therapy.
The round was led by Innovation Industries, with contributions from Invest-NL and EIC Fund.
Existing investors Inkef, Panakès Partners, SHS Capital, Dolby Family Ventures, Brabant Development Agency, and Thuja Capital also participated in the financing round.
Salvia intends to use the funds to support the clinical development and commercial launch of its MySalvia Therapy in the US, Europe, and Australia.
MySalvia implant offers a less invasive alternative to conventional technologies, minimising surgical complexity and patient recovery time.
The therapy uses two ultra-thin implants placed beneath the skin of the forehead and back of the head, activated by an external wearable device.
Innovation Industries partner Caaj Greebe said: “Salvia BioElectronics is redefining the migraine therapy landscape with a bold, patient-centred approach that combines cutting-edge neuromodulation with an elegant, minimally invasive design.
“At Innovation Industries, we invest in breakthrough technologies that have the potential to solve the most pressing real-world challenges and Salvia BioElectronics does exactly that: offering life-changing solutions for millions of people living with chronic migraine.
“We are excited to partner with the Salvia team as they advance through their clinical development to deliver a meaningful new therapy.”
Salvia BioElectronics is a clinical-stage company that is developing an advanced neuromodulation therapy for people suffering from chronic migraine.
The company’s unique technology involves a personalised, minimally invasive approach using ultra-thin implants to target nerves associated with migraines.
It can deliver targeted stimulation on demand, providing a discreet and user-controlled solution for reducing both the frequency and intensity of migraine attacks.
The MySalvia Therapy is currently being evaluated in the RECLAIM study, a multi-centre, double-blind, sham-controlled trial for chronic migraine patients.
The study is underway in Europe and Australia, with plans for additional trials in the US to assess safety and effectiveness.
Salvia has secured the FDA Breakthrough Device designation for the device and aims to secure market authorisation in the US and regulatory approvals in Europe and Australia.
Salvia BioElectronics founder and CEO Hubert Martens said: “With the support of this strong investor syndicate, we are empowered to bring MySalvia Therapy to patients in desperate need of new treatment options.
“Chronic migraine is not ‘just a headache’. It is a debilitating neurological condition that forces people out of their social life, their work, and the life they want to live.
“MySalvia Therapy is designed to provide not just relief, but meaningful and lasting impact. We believe people with migraine deserve the opportunity to reclaim their lives.
“With this funding, we are advancing toward regulatory approval and commercialisation, with the ultimate goal of reaching millions of people affected by chronic migraine.”
