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BERLIN, GERMANY -- (Marketwired) -- 08/09/17 -- EBS Technologies, developer and provider of the Eyetronic system for the treatment of visual field loss, has raised 3 million Euros with Norgine Ventures. The new funds will be dedicated to accelerated growth, international expansion and the set-up of a US clinical trial. The company's proprietary Eyetronic
system enables a completely new therapeutic approach to patients suffering from glaucoma and other conditions affecting the optic nerve. The non-invasive treatment is the first and only method that has demonstrated to not only slow down disease progression, but to also restore vision in glaucoma, the leading cause for irreversible blindness in the world, affecting 70 million people globally.(1)
Proven innovation with strong growth potential
therapy is based on proven and published mode-of-action. By applying gentle pulses to the optic nerve cells responsible for vision, the therapy reactivates cell activity leading to a two-fold effect: neuroprotection, preventing further cell degeneration; and neurorestoration, supporting the regeneration of nerve tissue, resulting in restored vision.
Peter Stein, Managing Director at Norgine Ventures, underlines the strong potential of the therapy which makes EBS Technologies an ideal investment for the Norgine spin-off that aims at fostering innovation in the healthcare sector: "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."
US market entry under preparation
, we offer patients and physicians a completely new perspective on glaucoma. We are very pleased to have a top tier investor like Norgine Ventures support our plans to expand the reach of our therapy to patients internationally" says Karl Schweitzer, CEO of EBS Technologies. "The funds raised with Norgine will allow us to accelerate access to the US market and to complement the already existing clinical evidence with more data."
About EBS Technologies
EBS Technologies, based close to Berlin, Germany, develops software and hardware for medical stimulation therapies. The company holds several patents in the EU, Japan and the USA and received CE mark based on the successful completion of a multicenter randomized controlled clinical trial. The system is approved for the treatment of visual field loss caused by neuropathies of the optic nerve.
More information on Eyetronic (formerly: EBS therapy) is available under www.eyetronic.com.
About Norgine Ventures
Norgine Ventures supports 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.
(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.For more information, please contact: Martina Frank Tel: +49 89 13 95 78 27 18 Email: NEXT ARTICLE
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