Autonomic Technologies, the developer of a microstimulator to treat severe headaches, secures a $38M series D round
Autonomic TechnologiesTM, Inc. (ATITM), developer and manufacturer of PulsanteTM , a microstimulator to treat severe headaches, today announced the closing of a series D round of financing for $38M. The round was led by Edmond de Rothschild Investment Partners (EdRIP), the Paris based venture capital firm, syndicated with Forbion Capital Partners, from Naarden, the Netherlands. The existing investors Kleiner Perkins Caufield and Byers, InterWest Partners, Novartis Venture Fund, Aberdare Ventures and the Cleveland Clinic strongly supported the financing as well. Olivier Litzka, Partner at Edmond de Rothschild Investment Partners (EdRIP) and Martien van Osch, Managing Partner at Forbion Capital Partners (Forbion) will join ATI’s Board of Directors.
ATI has started commercialization of the Pulsante microstimulator in Europe and established Autonomic Technologies Europe GmbH, a wholly owned subsidiary in Germany, to further expand European commercialization. In addition, the company will use proceeds from the financing to fund the ongoing IDE study in the USA.
“The investments from our new European investors together with the support from our existing investors provide recognition of ATI’s strong clinical data and our unique Pulsante microstimulator for severe headache,” said Ben Pless, President and Chief Executive Officer of Autonomic Technologies. “We are now well financed to further build out our leadership position in the growing field of neurostimulation in headache, expanding our launch to other countries in Europe and expanding the clinical evidence base of our minimally invasive treatment into other indications.”
“Interested in and following the extremely dynamic field of neuromodulation/neurostimulation we were attracted to Autonomic Technologies Inc and its Pulsante microstimulator through very convincing clinical data in cluster headache, a disease of extreme pain with limited treatment options” said Olivier Litzka, Partner at EdRIP, “With ATI showing that it is able to professionally commercialize Pulsante in Europe, it makes it a very suitable investment for EdRIP.”
“Pulsante microstimulator has already convinced many KOLs and patients in Europe and the US, and we therefore see a significant market potential for this treatment solution, which is brought forward by a very strong and experienced team.” added Martien van Osch, Managing Partner at Forbion.
About Autonomic Technologies
Autonomic Technologies, Inc. (ATITM) is a medical device company headquartered in the San Francisco Bay Area with offices in Germany and Switzerland, focused on the development and commercialization of innovative therapies for the treatment of autonomic disorders, particularly severe headache. The company’s initial product, the Pulsante microstimulator, is CE marked in Europe for the treatment of cluster headache. The device is also under an IDE study in the US for the treatment of chronic cluster headache. For more information, please visit: www.pulsante.eu or www.ati-spg.com.
Source: EDRIP Press Release