Sapiens Steering Brain Stimulation, a spin-off from Netherlands-based technology group Royal Philips Electronics, has raised €13m ($19m) in its series A round.
Venture capital firms Wellington Partners and Edmond de Rothschild Investment Partners co-led the round with additional financing from peer Life Sciences Partners.
Philips and NeuroNexus Technologies became minority shareholders in Sapiens as a result of their contribution to the development of the Sapiens’ system and underlying technologies that stimulate the brain to treat epilepsy and other problems from Parkinson’s Disease.
The three founders, Michel Decré, Hubert Martens and Sjaak Deckers, started work on deep brain stimulation within Philips Research from 2006 to today.
Todd Whitehurst, vice-president of product development for Sensors for Medicine and Science, a US-based implantable sensor company, said: "The Sapiens system is a dramatic leap forward in neuromodulation technology. The expected reductions in surgery duration and programming time represent a significant improvement for neurosurgeons and neurologists as well as patients."