Norgine Ventures announced today that it has provided financing of up to €3 million to EBS Technologies GmbH. This investment recognises the importance of EBS Technologies’ unique, non-invasive therapy, NEXTWAVETM, to address a large unmet need for the treatment of visual field loss due to glaucoma and other conditions affecting the optic nerve. NEXTWAVETM is the first and only method that has proven to restore vision in a randomised controlled clinical trial1. The therapy is initially focused on glaucoma patients, which affects over 70 million people globally2. The financing will help the company accelerate their growth, expand commercial presence in other EU countries outside of Germany, and fund a US clinical trial.
Peter Stein, Managing Director at Norgine Ventures, said: “We are excited to invest in EBS Technologies and thereby support an innovative business which provides a safe and unique therapy with the potential to change the treatment paradigm for visual field loss. Their technology addresses a significant unmet patient need and aims to improve the quality of life for millions of patients.” He added: “The technology underpinning the EBS Therapy places the company at the forefront of innovation for the nerve stimulation market, making it an ideal investment for Norgine Ventures”
Karl Schweitzer, EBS Technologies Chairman, said: “We are very pleased to have a top tier investor like Norgine Ventures support our plans to expand the reach of NEXTWAVETM to patients internationally, suffering from a disease that ultimately leads to blindness. The funds from Norgine Ventures will allow us to complement the already existing clinical evidence with more data and accelerate access to the US market.”