EBS raises €3M for brain therapy device

Funding

EBS Technology GmbH, of Kleinmachnow, Germany, has announced the completion of its second financing, raising €3 million from lead investor Earlybird with BFB Wachstumsfonds Brandenburg of InvestitionsBank des Landes Brandenburg, which is managed by BC Brandenburg Capital (BC) and High-Tech Gründerfonds.

EBS (Electrical Brain Synchronisation) Technologies develops medical devices for the treatment of neurological deficits that result from stroke or brain trauma. The therapy is based on a non-invasive electrical stimulation by head mounted electrodes. Functional deficits in the domains of vision and speech, which are suffered by about two thirds of stroke patients, are the focus of the company’s current clinical development programme.

The treatment aims to produce electrical brain synchronization, which the company says promotes superior and faster rehabilitation. EBS was established in 2007 and benefits from over 15 years of relevant research by the founders and clinical experience with more than 1,000 patients. A seed financing by High-Tech Gründerfonds in 2008 enabled the development of a prototype device, which is approved for the use in clinical studies. This second financing round provides the means to bring the medical device to market approval. In parallel, further clinical trials for additional indications will be conducted.

Thom Rasche, Partner at Earlybird, is convinced of the technology’s potential, “Stroke is the main cause for acquired disability among adults and a significant cost factor for our society. We were also very convinced by the experience of the founders and the management team.”

“Now we have sufficient funds to obtain the CE-mark and prepare our technology [for] market [launch],” said Kornelia Sabel, CEO of EBS Technologies.

EBS technology is based on a non-invasive brain stimulation using weak electrical currents. Low-voltage electrical pulses are administered at frequencies and amplitudes identified as optimal for each patient, allowing the brain to ‘re-learn’ its natural synchronisation with the help of an external ‘metronome’ promoting functional rehabilitation in speech, vision, memory and mobility. The company is backed by more than 15 years of research and clinical experience with over 1,000 patients. Partial restoration of brain function after brain damage can be achieved in a relatively short period of time. EBS Technologies currently has six employees and collaborates with several R&D institutions and development partners.