Aleva Neurotherapeutics and Greatbatch Collaborate on Next-Generation Device for Deep Brain Stimulation (DBS)
February 01 2016 - 4:29PM
Aleva Neurotherapeutics, a leading company developing
next-generation implants for deep brain stimulation (DBS) in major
neurological indications such as Parkinson’s disease and essential
tremor, today announced a strategic development, supply, and
manufacturing relationship with Greatbatch Ltd., a subsidiary of
Greatbatch, Inc. (NYSE:GB). In addition, Greatbatch will invest in
Aleva Neurotherapeutics’ current Series C financing round.
Under terms of the development agreement, Greatbatch’s design
and development team QiG Group, which is expected to be spun-off as
Nuvectra Corporation, will provide Aleva with access to its unique
implantable neurostimulation platform. Specifically, Aleva will
receive a license to utilize Nuvectra’s platform in the field of
use of deep brain stimulation for treatment of Parkinson’s disease
and essential tremor. Aleva will incorporate its own proprietary
microDBS™ technology platform, which includes cutting-edge
directSTIM™ electrode technology for directional deep brain
stimulation, into a complete system with Nuvectra’s proprietary
24-channel neurostimulator and paradigm-shifting programmers. The
complete system is aimed to provide patients and doctors with an
unparalleled, next-generation DBS solution resulting in increased
efficacy and improved therapy control that may lead to improved
outcomes for patients with Parkinson’s disease and essential
tremor.
Nuvectra will also continue work with Aleva’s engineering team
on the development of next-generation DBS technologies. In
addition, Greatbatch will enter into an exclusive manufacturing and
supply agreement for certain devices of the system.
“As a result of our partnership with Greatbatch and Nuvectra, we
will significantly reduce our time-to-market and enhance our
ability to deliver our novel Directional DBS therapy to patients in
need,” said Andre Mercanzini, Chief Technology Officer and Founder
of Aleva. “We are delighted to be working with some of the very
best people in the neuromodulation business to commercialize our
work.”
“We’re excited to be partnering with true pioneers in the field
of DBS," said Scott Drees, CEO of Nuvectra. “Aleva’s approach of
building next-generation DBS therapies for this highly underserved
market aligns perfectly with our plans to establish Nuvectra as an
innovative player in the neuromodulation marketplace. We believe
the Aleva partnership validates our strategy of developing platform
technology that can be leveraged across multiple neurostimulation
indications.”
Aleva is currently raising a Series C financing round, which
will be led by Greatbatch. Existing investors BioMedPartners, BB
Biotech Ventures, Banexi Ventures and Initiative Capital Romandie
are also participating in the round. The proceeds will be dedicated
to obtaining the CE mark for its proprietary directSTIM™
Directional Deep Brain Stimulation System and the completion of a
chronic study in 60 Parkinson’s disease patients. The successful
results of Aleva’s pilot study were published in BRAIN in 2014.
In October 2015, Greatbatch, Inc. completed its acquisition of
Lake Region Medical, with the combined company expected to be
renamed Integer Holdings Corporation later this year (subject to
shareholder approval).
About Aleva NeurotherapeuticsAleva Neurotherapeutics develops
next-generation neurostimulation technologies and devices for Deep
Brain Stimulation (DBS) therapy. Its solutions are designed to be
more precise and more efficient than currently available DBS
approaches while causing fewer side effects. Based on its
proprietary microDBS™ technology, Aleva has developed two novel
brain stimulating products with different properties. The first,
called directSTIM™, is a complete Directional Deep Brain
Stimulation System for long-term therapy in Parkinson’s Disease and
Essential Tremor; the second, called spiderSTIM™, is a full
solution for intra-surgical placement of DBS electrodes.
The company is a spin-off from the Ecole Polytechnique Fédérale
de Lausanne (EPFL) Microsystems Laboratory of Prof. Philippe
Renaud. Aleva Neurotherapeutics has raised EUR 22 million from
renowned private and institutional investors, among them
BioMedPartners, BB Biotech Ventures LP, Banexi Ventures Partners,
Initiative Capital Romandie and selected private investors.
About Greatbatch, Inc.Greatbatch, Inc. (NYSE:GB) is one of the
largest medical device outsource (MDO) manufacturers in the world
serving the cardiac, neuromodulation, orthopedics, vascular,
advanced surgical and portable medical markets. The company
provides innovative, high quality medical technologies that enhance
the lives of patients worldwide. In addition, it develops batteries
for high-end niche applications in energy, military, and
environmental markets. The company's brands include Greatbatch
Medical, Lake Region Medical and Electrochem. Additional
information is available at www.greatbatch.com.
About QiG Group/NuvectraQiG Group, LLC is a Greatbatch
subsidiary initially focused on the development and
commercialization of a neurostimulation technology platform for the
treatment of a variety of neurological disorders. The Algovita
Spinal Cord Stimulation System is the company’s first implantable
medical device. Algovita is approved in the United States and
Europe for the treatment of chronic pain of the trunk and limbs.
QiG Group is currently in the process of being spun-off from
Greatbatch under the name of Nuvectra Corporation. The spin-off is
expected to be complete in Q1, 2016.
About Deep Brain StimulationDeep brain stimulation (DBS) is
approved worldwide for the treatment of Parkinson’s disease (PD),
essential tremor, dystonia, obsessive-compulsive disorder (OCD) and
epilepsy. It is also under investigation for the treatment of a
number of other conditions, including major depression. DBS is a
therapy that relies on the delivery of mild electrical pulses to
specific areas in the brain via an implanted lead connected to a
battery-powered pulse generator placed in the patient’s upper chest
area. A physician is able to vary and control the stimulation
delivered through the lead to the brain using an external,
hand-held programmer. At present, DBS systems use leads with
electrodes that send out electrical current in all directions,
which can result in unwanted side effects.
Contact:
Aleva Neurotherapeutics
André Mercanzini
Founder and CTO
andre.mercanzini@aleva-neuro.com
Media Inquiries:
akampion
Dr. Ludger Wess / Ines-Regina Buth
Tel. +49 40 88165964 / +49 30 2363 2768
info@akampion.com
Greatbatch, Inc.
Christopher Knospe
Senior Director, Global Communications & Corporate Affairs
Tel. +1 716-759-5727
cknospe@greatbatch.com
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