Electrical Brain Synchronisation Technologies (EBS Technologies) completes 3 million Euro financing round with lead investor Earlybird and BC Brandenburg Capital
January 14, 2010
EBS Technology GmbH, based in Kleinmachnow, announces the completion of its second financing round raising 3 million Euro. Lead investor Earlybird is providing the financing together with BFB Wachstumsfonds Brandenburg of InvestitionsBank des Landes Brandenburg, which is managed by BC Brandenburg Capital (BC) and High-Tech Gründerfonds.
EBS 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 about two thirds of stroke patients suffer – are the focus of EBS’ current clinical development. The treatment’s fundamental approach is to produce ‘electrical brain synchronization (EBS)’, facilitating superior and especially faster rehabilitation. The enormous potential of this technology developed and patented by EBS serves a billion-dollar market in Germany alone.
The company was established in 2007 and benefits from over 15 years of relevant research of 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. The 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. With EBS Technologies, the founders have already successfully established their third business.” Daniela Schikora, Senior Investment Manager at BC Brandenburg Capital, adds: “We are delighted to be able to support leading-edge technology on its way to commercialisation, which also creates new technology-oriented jobs in the state of Brandenburg.”
“We are enthused about having Earlybird and BC as very experienced MedTech investors on board. Now we have sufficient funds to obtain the CE-mark and prepare our technology’s market entry”, notes Kornelia Sabel, CEO of EBS Technologies.
About EBS Technologies GmbH:
Electrical Brain Synchronization Technologies (EBS) was founded in Kleinmachnow (near Berlin/Germany) in 2007 to carry out research and develop a medical device for the treatment of neurological diseases. EBS technology is based on a non-invasive brain stimulation deploying weak electrical currents. Thus, functional deficits after stroke or brain trauma can be treated in neurological patients. Low-voltage electrical pulses are administered at frequencies and amplitudes identified as optimal for each patient, allowing the brain to ‘re-learn’ its natural synchronization with the help of an external ‘metronome’ facilitating functional rehabilitation in the domains of speech, vision, memory and mobility. The company benefits from more than 15 years of research and clinical experience with more than 1,000 patients. Observational studies show that 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.
Further information is available at www.ebstech.de
Earlybird Venture Capital is one of the most successful European venture investors. Currently, Earlybird manages over 400 million Euro of assets for an international investor base. Earlybird invests in innovative, fast growing companies with outstanding management teams and high growth potential on international markets. Earlybird’s portfolio currently includes more than 25 companies in seven countries (Austria, Germany, Italy, Netherlands, Switzerland, UK and USA). Since its inception, Earlybird has invested in 58 companies. Besides several successful trade sales (i.a. amaxa to Lonza and Alantos to Amgen), Earlybird has led six companies to an IPO at four different European exchanges (Interhyp, Tipp24, Wilex, Esmertec, Entelos, and NoemaLife).
Further information is available at www.earlybird.com or follow us on Twitter: EarlybirdVC
About BC Brandenburg Capital GmbH:
BC Brandenburg Capital GmbH (BC GmbH) is a management and holding entity of currently six investment funds, among others the BFB Wachstumsfonds Brandenburg GmbH (BFB II). Of the means the BFB II Fund allocates, the European Fund for Regional Development (EFRE) provides 75pc, and 25pc are appropriations from the Brandenburg State Ministry for Economics. Being a subsidiary of InvestitionsBank des Landes Brandenburg (ILB), and through investment by the tbg Technologie-Beteiligungs-Gesellschaft mbH of KfW Mittelstandsbank, BC GmbH grants financial support to growth- and innovation-oriented small & medium-sized enterprises during all phases of business development. The funds of BC GmbH are equipped with an overall capital volume of 170m Euro. Currently, BC GmbH participates in over 45 active enterprises as a funding partner. As a partner of ZukunftsAgentur Brandenburg and in association with private capital lenders, the funds of BC Brandenburg Capital have carried out investments with a total capital volume exceeding 110m Euro in 16 years of business activity. For further information, please turn to www.bc-capital.de.
About High-Tech Gründerfonds:
High-Tech Gründerfonds invests venture capital in young, high-opportunity technology
companies, which convert promising research results into commercial enterprises. With the assistance of seed financing of up to EUR 500,000, the start-ups are to continue with the R&D projects up to the preparation of a prototype or proof of concept or up to introduction into the market. High-Tech Gründerfonds has a fund volume of around EUR 272 million available. The investors of the public private partnership include the German Federal Ministry for Economy and Technology, the KfW banking group and the six industrial groups BASF, Deutsche Telekom, Siemens, Robert Bosch, Daimler and Carl Zeiss.
High-Tech Gründerfonds Management GmbH
Dr. Caroline Fichtner
Tel: +49 228 96568500
Fax: +49 228 96568550