Newronika raises €1.7m from Innogest et al.

According to a source familiar with the situation, Innogest provided around two thirds of the round through its Innogest Capital II fund.

Additional investors included Atlante Ventures, the venture capital arm of Italian bank Intesa Sanpaolo, and F3F, an Italian investment company.

Following the deal, a representative from Innogest will join the company's management board and the investors syndicate will nominate the company's chairperson.

The company intends to use the fresh funds to boost the development of its implantable device and continue to conduct clinical studies on its patented technology.

Company
Headquartered in Milan, the company has developed an implantable device that stimulates the brain for patients affected by Parkinson's disease. The product is designed to record brain activity and modulate neurostimulation, managing the effects during the disease's later stages and improving patients' motor skills.

In 2009, the company span out from the Milanese Fondazione IRCCS Ca' Granda and the Universitá degli Studi di Milano. The business employes a staff of nine and posted a turnover of €300,000 in 2015.

People
Innogest – Claudio Rumazza (partner).
Atlante Ventures – Luca Binda (investment manager).
Newronika – Alberto Priori (founder); Lorenzo Rossi (CEO).

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• Topics
• Expansion
• Healthcare
• Southern Europe
• Italy
• Atlante Ventures
• Intesa Sanpaolo
• Venture