Charitable foundation The Wellcome Trust has led a €10 million (£8.6 million) funding round for the Dutch medical device company Sapiens which is researching a treatment for Parkinson’s disease.
Charitable foundation The Wellcome Trust has led a €10 million (£8.6 million) funding round for the Dutch medical device company Sapiens which is researching a treatment for Parkinson’s disease.
The UK-based organisation invested in the company alongside The Michael J. Fox Foundation and Agentschap, a Dutch government agency. The additional financing is in addition to a €13 million Series A funding round in May this year that was led by Wellington Partners, Edmond de Rothschild Investment Partners and LSP.
Sapiens is developing steering brain stimulation, which is a method to treat Parkinson’s disease and other brain disorders. The investment will fund the development of specific components of Sapiens’ high-resolution, thin film-based probe technology that creates the brain stimulation.
In comprising the round, The Wellcome Trust made a €3.5 million equity investment, the Michael J. Fox Foundation committed a $370,000 research grant, and Agentschap NL provided €5 million in funding as well as a €1.5 million research grant.
The trust’s investment was made after the charity organisation, which is the largest in the UK, awarded Sapiens the prestigious Strategic Translation Award for its research work.
Richard Seabrook, head of business development at the Wellcome Trust, comments, ‘Deep brain stimulation has proven to be a life-changing therapy for patients with Parkinson’s disease. By refining the technology and reducing side effects, this project promises to bring back quality of life to more patients living with this debilitating disease.’
Sjaak Deckers, chief executive at Sapiens, adds, ‘Over €10 million of additional financing for finalising our product development is great news for our young company. The independent recognition of the value of our proposition is a great boost to the Sapiens team, which is committed to improving the lives of more people suffering from Parkinson’s disease and other degenerative or functional brain disorders.’
