London. 19 July 2017, 07.00 AM GMT+1 (or BST). Norgine Ventures announced today that it has provided financing of up to €3 million to EBS Technologies GmbH. This investment recognises the importance of EBS Technologies’ unique, non-invasive therapy, NEXTWAVETM, to address a large unmet need for the treatment of visual field loss due to glaucoma and other conditions affecting the optic nerve. NEXTWAVETM is the first and only method that has proven to restore vision in a randomised controlled clinical trial1. The therapy is initially focused on glaucoma patients, which affects over 70 million people globally2. The financing will help the company accelerate their growth, expand commercial presence in other EU countries outside of Germany, and fund a US clinical trial.
Peter Stein, Managing Director at Norgine Ventures, said: “We are excited to invest in EBS Technologies and thereby support an innovative business which provides a safe and unique therapy with the potential to change the treatment paradigm for visual field loss. Their technology addresses a significant unmet patient need and aims to improve the quality of life for millions of patients.” He added: “The technology underpinning the EBS Therapy places the company at the forefront of innovation for the nerve stimulation market, making it an ideal investment for Norgine Ventures”
Karl Schweitzer, EBS Technologies Chairman, said: “We are very pleased to have a top tier investor like Norgine Ventures support our plans to expand the reach of NEXTWAVETM to patients internationally, suffering from a disease that ultimately leads to blindness. The funds from Norgine Ventures will allow us to complement the already existing clinical evidence with more data and accelerate access to the US market.”
Notes to Editors:
For further information please contact
Julien Michaux, Norgine Ventures, firstname.lastname@example.org
Aneta Sottil, Norgine Ventures, email@example.com
Karl Schweitzer, Chairman, firstname.lastname@example.org
Isabelle Jouin, Norgine, T: +441895453643
Charlotte Andrews, Norgine, T: +441895453607
About Norgine and Norgine Ventures
Norgine is a leading European specialist pharmaceutical company with a direct commercial presence in all major European markets. In 2016, Norgine’s total revenue was EUR 368 million. Norgine employs over 1,000 people across its commercial, development and manufacturing operations and manages all aspects of product development, production, marketing, sale and supply. Norgine specialises in gastroenterology, hepatology, cancer and supportive care.
Norgine is headquartered in the Netherlands. Norgine owns a R&D site in Hengoed, Wales and two manufacturing sites in Hengoed, Wales and Dreux, France.
For more information, please visit www.norgine.com.
In 2012, Norgine established a complementary business Norgine Ventures, supporting innovative healthcare companies through the provision of debt-like financing in Europe and the US.
For more information, please visit www.norgineventures.com.
NORGINE and the sail logo are trademarks of the Norgine group of companies.
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 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.
1 Gall C, Schmidt S, Schittkowski MP, Antal A, Ambrus GG, Paulus W, et al. (2016) Alternating Current Stimulation for Vision Restoration after Optic Nerve Damage: A Randomized Clinical Trial. PLoS ONE 11(6): e0156134.
2 The number of people with glaucoma worldwide in 2010 -2020, HA Quigley, A T Broman BrJ Ophthalmol 2006 (90):262-7.