Omnes leads €8.4m funding round for Newronika

Previous backer Indaco Venture Partners also took part in the round alongside F3F and an unnamed family office. In addition, Innogest increased its investment in the company to become its largest shareholder.

Indaco drew capital from Atlante Ventures Fund and Indaco Ventures I, which was launched in May 2018 with a €200m target. The vehicle has raised €134m so far from Intesa Sanpaolo, Fondazione Cariplo, Fondo Italiano d'Investimento, H-Invest, and the firm's management.

The startup will use the financing to complete its first human clinical study and obtain a European standard CE mark and the US Food & Drug Administration's investigational device exemption.

Previous funding
Newronika raised €1.7m in seed funding in 2016 from Indaco, Innogest and F3F.

Company
Newronika was established as a spinout from the neurological research centre at the University of Milan and Policlinico of Milan in 2016. The startup has developed a closed-loop system for DBS for the treatment of Parkinson's disease, other neurological disorders and traumatic brain injury.

Its technology, AlphaDBS, interprets the bioelectrical neuronal activity in damaged brain areas and delivers electric stimulation. Newronika comprises a multidisciplinary team involving neurophysiology, neurology, biomedical engineering, neuropsychology, bioinformatics and biotechnologies.

People
Omnes Capital – Claire Poulard (associate).
Indaco Venture Partners – Davide Turco (managing partner).
Innogest – Claudio Rumazza (partner).
Newronika – Lorenzo Rossi (CEO); Alain Garcinuño (CFO).

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