EBS Technologies, a medical device firm, has received CE Mark for Next Wave, a brain stimulation device that helps to treat neurological disorders caused by brain injury or stroke.
The Next Wave technology revitalises and helps in establishing selective communication paths between neurological cells that may have been lost due to brain injury caused either by trauma, stroke or tumor resection.
Considered to be a non-invasive therapy, the patented Next Wave technology has also been clinically proven to restore vision impairment by 20% to 30% after brain dysfunction. Glaucoma patients have also shown benefits from this technology.
EBS Technologies CEO Ulf Pommerening said that there is a significant unmet clinical need for the treatment of vision impairment caused by a neurological disorder such as a stroke.
"There are more than 10 million stroke survivors with long-term disability in Europe and the US. Three out of five of these disabled persons are potentially treatable with our non-invasive EBS Next Wave therapy," Pommerening said.
The firm now intends to commence immediate commercialisation in Europe following a string of series B financing deals worth $3.9m. The total investment in the medical device company is now about $9m.
"We are extremely pleased that our existing investors, lead by Earlybird Venture Partners, increased their commitment to EBS, based on strong clinical results with our low-risk, non-invasive Next Wave system," added Pommerening.
"With this series B cash infusion, we have already begun a limited launch of the device to key opinion-leading neurologists in Europe."
The device has not been approved for investigational use or sale in the US.