Angelini Ventures, the venture capital company of the Angelini Industries group, has invested $6 million in Cadence Neuroscience, an American start-up that is developing, in collaboration with Mayo Clinic researchers, a new therapy for neuromodulation for the treatment of “epilepsy”.
The $6 million invested by Angelini Ventures, explains a note, is part of the new total funding of $26 million, which represents the “series B round”, or the second phase of growth of Cadence Neuroscience, aimed at completing the studies preliminary clinical trials and obtain approval from the Food and Drug Administration (Fda). The round was led by Angelini Lumira Bioscience Fund (the US fund created by Lumira Ventures and Angelini Ventures), and included the participation of other new investors: F-Prime Capital, LivaNova PLC, Angelini Ventures, Spectrum Financial Services and Mayo Clinic. , along with JAZZ Venture Partners who led the initial “series A” round. Gerry Brunk of Lumira Ventures and Kevin Chu of F-Prime Capital join Cadence Neuroscience’s board of directors.
“Investments like this, which we are making with Angelini Ventures – comments Sergio Marullo di Condojanni, CEO of Angelini Industries – are fully part of our growth strategy in the therapeutic area of neurological disorders and are in perfect harmony with our long term. vision of a period that an entrepreneurial group like ours carries in its DNA. In addition to being a potential opportunity in terms of development, this participation also fully responds to our mission, which is above all to take care of patients and their quality of life”.
“The technology developed by Cadence Neuroscience has the potential to become a point of reference for the treatment of drug-resistant epilepsy and other pathologies that affect the brain – observes Paolo Di Giorgio, CEO of Angelini Ventures-.
This investment is part of our strategy to focus internationally on innovative and high-tech companies in the fields of life sciences, digital health and biotechnology, to identify, finance and implement solutions that innovate traditional models of health”.
With investments of 300 million euros, of which 70 already planned, in Europe, North America and Israel, with special attention to brain health and the market segments aimed at women, children and the elderly, Angelini Ventures is part of the growth and innovation strategy of Angelini Industries, a multinational industrial group with 5,800 employees and revenues of 2,000 million euros in the health, consumer goods and industrial technology sectors.
Cadence Neuroscience is a start-up from Redmond, near Seattle, founded in 2017, which has created a new technology for the treatment of drug-resistant focal epilepsy, in pediatric and adult age based on the research of the neurology and neurosurgery team at the Mayo Clinic led by neurologist and epilepsy expert Gregory Worrell. The company has developed software capable of identifying, within the electroencephalogram trace, precise signals related to epilepsy and modulating them by means of punctual electrical impulses with the aim of eliminating or reducing epileptic seizures. The software is installed inside a small, permanent neural implant that generates continuous cortical electrical stimulation that is precisely calibrated based on the brain impulses monitored by the software itself. In this sense, the system developed by Cadence Neuroscience aims to offer targeted and personalized therapy.
Source : IL Messaggero