EBS Technologies raises additional 1.1 million Euros in new round of financing
Investor group led by Earlybird and High-Tech Gruenderfonds sees strong growth potential in the neurostimulation market segment
EBS Technologies, focused on the development and commercialization of EBS Therapy for the treatment of visual field loss, has successfully launched a new round of financing by raising 1.1 million Euros. Three private investors joined the new round led by Earlybird and High-Tech Gruenderfonds which is still open to additional investors. The newly raised capital will be invested in a faster market penetration and will help the company achieve financial independence. EBS Therapy is an innovative non-invasive treatment option for patients with visual field loss. The treatment was introduced in the German market in 2014 and is available in selected German eye care clinics and therapy centers.
Proven concept, strong innovation potential
“The therapeutic effectiveness of the electrical neurostimulation is clinically established for a number of brain and spinal cord indications, and we have known for years that the concept works“, states Prof. Dr. med. Jens Ellrich, former CMO at Sapiens, which is part of Medtronic now. Ellrich supports EBS Technologies in its market penetration and growth strategy with his longstanding experience in the neurostimulation segment. “The positive und statistically significant effectiveness of the CE-marked EBS Therapy has been proven in a clinical study with 82 patients with damage to the optical nerve caused by glaucoma or circulatory disorders“, says Ellrich.
Rapid growth of the neurostimulation market
Private investor Rainer Christine sees strong potential for EBS Therapy in the rapidly growing neurostimulation market. „EBS Technologies has developed an effective therapy option for the treatment of visual field loss and an attractive business model, and the company has successfully established itself in a strongly growing market segment“, explains Christine his decision to invest in the German medical technology company.
Ambition for a US market entry in the short term
“We are very pleased with the trust expressed by our existing and new investors in the latest round of financing“, says Ulf Pommerening, CEO of EBS Technologies. “The additional funds will allow us to further strengthen our market position in Germany and to expand our presence to international markets. The round of financing is still open to new investors; any additional capital raised in this round will be invested in an accelerated US market access.“
About EBS Technologies
EBS Technologies GmbH, based in Hennigsdorf close to Berlin, Germany, develops software and hardware for medical stimulation therapies. The company holds several patents in the EU and the USA, and has successfully completed a clinical trial of the EBS therapy. The EBS therapy system is approved for the treatment of visual field loss in accordance with EU regulations as a medical device with a CE label. For more information on EBS Technologies, please visit: www.ebstech.eu
More information on the EBS therapy and a complete list of therapy centers is available under www.ebs-therapy.com
About Earlybird Venture Capital
Established in 1997 Earlybird has raised over € 700 million in fund commitments. We have backed more than 100 companies, some of which have sparked significant innovations in business and technology and resulted in large scale ($1bn+) IPOs and trade sales. Earlybird backs European companies with global ambitions and our active portfolio currently includes 35 companies across the consumer Internet and enterprise services space.
Further information is available at: www.earlybird.com, Twitter: www.twitter.com/earlybirdvc. LinkedIn: www.linkedin.com/company/earlybird-venture-capital or Facebook: www.facebook.com/EarlybirdVC.
About High-Tech Gruenderfonds (HTGF)
High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group, as well as thirteen industrial groups of ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Qiagen, RWE Innogy, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 563 million under management in two funds (EUR 272 million EUR HTGF I, EUR 291 million HTGF II).
For more information, please visit: https://www.htgf.de/
High-Tech Gruenderfonds Management GmbH
Tel.: +49 228 823001-12
Fax: +49 228 823000-50