CereGate GmbH receives financing from High-Tech Gründerfonds to accelerate development of a new software platform for neuromodulation therapy
- CereGate enables “Mind-Writing”, i.e. it directly transmits information to the brain
- The CereGate system is successfully validated in a clinical study
- Study results are currently presented during the NANS-Meeting in Las Vegas
- High-Tech Gründerfonds enters with a capital increase and convertible
- The financing shall accelerate development of the system for new indications in stroke rehabilitation, neuroprosthetics and computer/brain-interfacing
According to WHO more than 1 billion humans are impacted by some form of neurological disorder worldwide. In the EU and US alone, these patients contribute to a staggering number of more than USD 1.0 Trillion combined cost. The market for neurotechnology based therapies for such disorders – specifically neuromodulation – is growing rapidly and neurotechnology holds great promise for the efficient treatment of these disorders in the future.
Neuromodulation is already a globally applied therapy, for which implants are placed using minimally-invasive surgical methods into the brain or spinal cord. This is currently done in order to alleviate symptoms such as tremor, gait problems, pain, dysarthria or dystonias. CereGate is developing a software platform which augments the programming of such neuromodulation systems for patients enabling completely novel forms of therapy, e.g. specifically suited to combat gait problems in Parkinson’s disease.
“Our software has the potential to build a bridge between the field of clinical neuromodulation and research in the brain/computer-interface domain“ says founder and CEO Dr. Bálint Várkuti.
Together with the CereGate-team in Munich and San Diego (USA) he successfully completed a pilot study at clinics in Freiburg and Budapest, with results being presented during the annual meeting of the North American Neuromodulation Society. The software is currently being extended for applications in neuroprosthetics, stroke rehabilitation and neuromodulation programming personalization.
“CereGate has made impressive progress in only one year, showing exceptional results in the clinical study for its hardware-agnostic neuromodulation software. We are looking forward to taking the next steps towards commercialization with the team in 2020“ states Tobias Faupel, responsible HTGF Investmentmanager.
Dr. Bálint Várkuti
President and CEO
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven startups. With EUR 895.5 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 570 startups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech startups in a range of sectors, including software, media, internet, hardware, automation, health care, chemistry and life sciences.
To date, external investors have injected over EUR 2.4 billion into the HTGF portfolio via more than 1,500 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies. Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Capital, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.