Healthcare Industry News: neurostimulation
News Release - June 25, 2015
Autonomic Technologies Completes Transatlantic Series D Financing of $43.2MREDWOOD CITY, CA--(Healthcare Sales & Marketing Network) - Autonomic Technologies®, Inc. (ATI®), developer and manufacturer of Pulsante™, a microstimulator to treat severe headaches, today announced the closing of its series D round of financing for an additional $5.5M from HBM Healthcare Investments LTD. This brings ATI's round D funding to a total of $43.2M. The round was led by Edmond de Rothschild Investment Partners (EdRIP), the Paris based venture capital firm, syndicated with Forbion Capital Partners, from Naarden, the Netherlands. Existing investors Kleiner Perkins Caufield and Byers, InterWest Partners, Aberdare Ventures, Novatis Venture Funds, and Cleveland Clinic also invested.
ATI has started commercialization of the Pulsante microstimulator in Europe and has also established Autonomic Technologies Europe GmbH, a wholly owned subsidiary in Germany, to further expand European commercialization. The Pulsante® SPG Microstimulator System (also known as Autonomic Technologies, Inc. (ATI) neurostimulation System) is under an IDE study in the US for the treatment of chronic cluster headache. The company will use proceeds from the financing to fund the ongoing IDE study in the USA.
"Autonomic Technologies strong clinical data, unique product portfolio and an excellent commercial team in Europe makes this investment in neuromodulation a perfect fit for HBM," said Dr. Alexander Asam Investment Advisor at HBM Partners AG.
"Closing round D financing above target is a testament to ATI's strong performance and allows for an accelerated expansion into international markets with Pulsante, ATI's novel microstimulation therapy bringing new hope to patients suffering from debilitating effects of severe headaches," said Karl Schweitzer, Chief Commercial Officer of Autonomic Technologies.
About Autonomic Technologies
Autonomic Technologies, Inc. (ATI®) is a medical device company headquartered in the San Francisco Bay Area with offices in Germany and Switzerland, focused on the development and commercialization of innovative therapies for the treatment of autonomic disorders, particularly severe headache. The company's initial product, the Pulsante microstimulator, is CE marked in Europe for the treatment of cluster headache. The device (also known as Autonomic Technologies, Inc. (ATI) neurostimulation System) is also under an IDE study in the US for the treatment of chronic cluster headache. For more information, please visit: www.pulsante.eu or www.ati-spg.com.
Information on HBM Healthcare Investments Ltd
HBM Partners Ltd is among the global leaders in healthcare-focused investing with approximately USD 1 billion under management. HBM focuses on development stage, growth and buy-out financings of private companies as well as investments in public companies. HBM Partners Ltd advises HBM Healthcare Investments AG, HBM BioCapital and further specialized private-equity and public-equity funds. HBM has a complementary team of experienced professionals to source, analyze, execute and exit investments in the pharma/biotech, medical devices and diagnostics industries. HBM Partners Ltd has been an active contributor to value creation in its portfolio companies, generating over 40 trade sales and IPOs since inception.
Source: Autonomic Technologies
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