Precisis secures € 20 million funding round for its bioelectric brain stimulation system

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DGAP-News: Precisis AG / Keyword (s): Financing / Expansion Precisis concludes a € 20 million funding round for its bioelectric brain stimulation system 2021-10-14 / 12:43 The issuer is solely responsible for the content of this advertisement.

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Heidelberg, germany, [14 October 2021] – Precisis AG, based in Heidelberg, announced that it has successfully concluded a € 20 million funding round with Cochlear Limited. Precisis is a medical technology company that develops minimally invasive brain stimulation methods to relieve epilepsy patients of their symptoms.

Investment objectives

The additional funding will be used to support ongoing clinical studies and advance EASEE (R), an implantable bioelectric brain stimulation system that explores new approaches to treat epilepsy. The only treatments currently available for patients with little or no response to drugs are invasive surgical procedures – deep brain stimulation, reactive neurostimulation, vagus nerve stimulation, or removal of the affected area of ​​the brain.

EASEE (R) is the first low risk and highly effective alternative. The EASEE (R) device is positioned out of sight on the cranial bone below the scalp and on sensitive brain tissue. It marks a paradigm shift in brain stimulation.

The relationship between Precisis and Cochlear creates opportunities to leverage Precisis’s development know-how in brain stimulation for functional brain diseases on the one hand, and Cochlear’s expertise in implantable devices. ‘somewhere else. The majority of the funds that will be invested by Cochlear will be subject to the achievement of clinical and development milestones defined for the EASEE (R) system scheduled for the next 18 months, including obtaining CE Mark certification.

Angela Liedler, MD, CEO of Precisis AG, is delighted: “This fundraising is an important step in the advancement of bioelectric brain stimulation. It will allow us to grow much faster in the future and to initiate many research and development projects, as well as in sales and marketing. Most importantly, our revolutionary EASEE (R) product will soon be offered to an international group of patients with epilepsy.

Jan Janssen, CTO of Cochlear Limited, added: “Cochlear actively monitors the market for new technologies and implantable devices which, in the long term, can leverage Cochlear’s core technology and business strengths. We are very happy to work with the Precisis team in Heidelberg. The EASEE (R) stimulation device has promising potential to not only become a commercially successful product in the future, but more importantly to provide significant improvement for people with epilepsy. ”

About EASEE (R)

EASEE (R) stands for Epicranial Application of Stimulation Electrodes for Epilepsy. It is a system providing individualized brain stimulation that is surgically inserted under the scalp and positioned on the epileptic origin in the brain with anatomical precision. In other words, the cranial bone is not open and the brain itself is not affected.

The thin platelet electrodes are not visible from the outside and guarantee unlimited freedom of movement for the patients. The therapeutic impulses can be adapted to each patient and optimized regularly during the treatment.

Two clinical studies carried out in various European epilepsy centers under the direction of Professor Schulze-Bonhage of the Universitätsklinikum Freiburg have shown that EASEE (R) is very effective. The market launch is scheduled for early 2022.

Epilepsy is one of the most common chronic neurological diseases in the world and greatly affects the lives of those who suffer from it. One in three patients has drug-resistant epilepsy. This means that it reacts little to drugs and requires additional treatment, technical or surgical. For these patients, Precisis’s EASEE (R) could provide an opportunity for more effective treatment of epilepsy and improve their quality of life.

ABOUT PRECISIS SA

Precisis AG, headquartered in Heidelberg, specializes in the development of innovative medical devices. Precisis AG stands for outstanding success in the field of instrument-controlled therapy for the brain. In 2015, Precisis raised around € 20 million in Round A from private investors and received notable grants from the German Federal Ministry of Research and Education. Thanks to the newly created strategic relationship with Cochlear, Precisis obtains financial and intangible benefits.

ABOUT COCHLEAR LIMITED

Cochlear is the world leader in implantable hearing solutions. The company employs more than 4,000 people worldwide and invests more than A $ 180 million annually in research and development. The products include cochlear implants, bone conduction implants, and acoustic implants, which healthcare professionals use to treat a range of types of moderate to profound hearing loss.

Since 1981, Cochlear has supplied more than 650,000 implantable devices, helping people of all ages, in more than 180 countries, to hear.

For more information on the activities, progress and milestones of Precisis AG, please visit: www.precisis.de

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Press contact:

Piabo PR GmbH

Barbara Eienbach and Julian Krauskopf

[email protected]

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2021-10-14 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this advertisement. DGAP’s distribution services include regulatory announcements, financial / corporate news, and press releases. Archives on www.dgap.de

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(END) Dow Jones Newswires

October 14, 2021 06:44 ET (10:44 GMT)


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