Principia leads €6.5m series-B for neurology firm Wise

Existing investors Atlante Ventures, High-Tech Gründerfonds (HTGF), F3F and Antares also took part in the funding round.

The company intends to use the fresh capital to market its cortical electrodes for intraoperative monitoring and conclude the development of its percutaneously-implantable paddle lead for spinal cord stimulation.

Principia led the funding round through its Principia III healthcare-focused vehicle. The fund has €206m in commitments, of which it has already invested €53m, according to a statement.

Previous funding
Founded as a spinout from the University of Milan and backed by angel investor Agite, Wise raised an initial €1m seed round of funding backed by HTGF, Intesa Sanpaolo-backed Atlante Seed, b-to-v Partners and existing investor Agite in November 2013.

More recently, the business raised a €3m series-A round from Principia, HTGF, Atlante Seed and b-to-v, alongside new investors Atlante Ventures, F3F and Antares in June 2015.

Company
Established in 2011, Wise develops implantable neuromodulation leads for brain monitoring and spinal cord stimulation. The company focuses on the treatment of a range of neurological conditions and claims to offer a minimally invasive implantation procedure with its stretchable percutaneous paddle leads.

The company has a manufacturing plant in Cologno Monzese, near Milan, and also has an office in Berlin.

People
Principia – Antonio Falcone (CEO).
High-Tech Gründerfonds – Kay Balster (senior investment manager).
Atlante Ventures – Davide Turco (managing partner).
Wise – Mario Zanone Poma (chair); Luca Ravagnan (co-founder, CEO).

Advisers
Equity (Principia) – McDermott Will & Emery (legal).

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• Topics
• Expansion
• Healthcare
• Southern Europe
• Venture
• Italy
• Germany
• Principia
• High-Tech Gründerfonds
• Atlante Ventures