FINLAND - Health Cap and LSP back EUR 5.7m Nexstim investment

The investment was structured as a EUR 3m loan-based convertible bond from existing backers, and EUR 2.72m in grants and loans from new investor TEKES. The capital will fund research and clinical development program in stroke, as well as the finalisation of Nexstims' application to the U.S. Food and Drug Administration (FDA) for marketing clearance of the NBS System.

The financing round brings the total investment in Nexstim to EUR 20m, of which EUR 14m has been raised in the past two years.

Founded in 2000, Nexstim has developed the Navigated Brain Stimulation (NBS), which combines stereotactic MRI-guided transcranial magnetic stimulation (TMS) and EEG/EMG response measurement. The NBS is used for functional brain diagnostics, including cortical mapping prior to surgery and evaluating brain damage following stroke.

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• Topics
• Early-stage
• Nordics