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EBS Technologies completes € 3 M financing round

Electrical Brain Synchronisation Technologies (EBS Technologies) completes 3 million Euro financing round with lead investor Earlybird and BC Brandenburg Capital
January 14, 2010, EBS Technology GmbH, based in Kleinmachnow, announces the completion of its second financing round raising 3 million Euro. Lead investor Earlybird is providing the financing together with BFB Wachstumsfonds Brandenburg of InvestitionsBank des Landes Brandenburg, which is managed by BC Brandenburg Capital (BC) and High-Tech Gründerfonds.
EBS Technologies develops medical devices for the treatment of neurological deficits that result from stroke or brain trauma. The therapy is based on a non-invasive electrical stimulation by head mounted electrodes. Functional deficits in the domains of vision and speech – which about two thirds of stroke patients suffer – are the focus of EBS’ current clinical development. The treatment’s fundamental approach is to produce ‘electrical brain synchronization (EBS)’, facilitating superior and especially faster rehabilitation. The enormous potential of this technology developed and patented by EBS serves a billion-dollar market in Germany alone.
The company was established in 2007 and benefits from over 15 years of relevant research of the founders and clinical experience with more than 1,000 patients. A seed financing by High-Tech Gründerfonds in 2008 enabled the development of a prototype device which is approved for the use in clinical studies. The second financing round provides the means to bring the medical device to market approval. In parallel, further clinical trials for additional indications will be conducted.
Thom Rasche, Partner at Earlybird, is convinced of the technology’s potential: “Stroke is the main cause for acquired disability among adults and a significant cost factor for our society. We were also very convinced by the experience of the founders and the management team. With EBS Technologies, the founders have already successfully established their third business.” Daniela Schikora, Senior Investment Manager at BC Brandenburg Capital, adds: “We are delighted to be able to support leading-edge technology on its way to commercialisation, which also creates new technology-oriented jobs in the state of Brandenburg.”
“We are enthused about having Earlybird and BC as very experienced MedTech investors on board. Now we have sufficient funds to obtain the CE-mark and prepare our technology’s market entry”, notes Kornelia Sabel, CEO of EBS Technologies.

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