DGAP-News
EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS PARTICIPATION IN SAPIENS STEERING BRAIN STIMULATION, DEVELOPER OF DEEP BRAIN STIMULATION SOLUTIONS TO MEDTRONIC
DGAP-News: Edmond de Rothschild Investment Partners / Key word(s):
Investment
EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS PARTICIPATION IN
SAPIENS STEERING BRAIN STIMULATION, DEVELOPER OF DEEP BRAIN
STIMULATION SOLUTIONS TO MEDTRONIC
26.08.2014 / 12:40
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EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS PARTICIPATION IN SAPIENS
STEERING BRAIN STIMULATION, DEVELOPER OF DEEP BRAIN STIMULATION SOLUTIONS
TO MEDTRONIC
This operation is the sixth trade sale of BioDiscovery 3, the fourteenth
from the BioDiscovery funds
Edmond De Rothschild Investment Partners (EdRIP) announced today that its
BioDiscovery 3 portfolio company, Sapiens Steering Brain Stimulation
(Sapiens SBS) a privately held developer of deep brain stimulation (DBS)
technologies, has been acquired by Medtronic, Inc. (NYSE: MDT) for
approximately $200 million in an all-cash transaction.
Sapiens SBS, located in Eindhoven, The Netherlands, is developing a DBS
system that features an advanced DBS lead with 40 individual stimulation
points. This advanced system is designed to allow more precise stimulation
of the intended target in the brain and may potentially result in reduced
procedure time and fewer stimulation-induced side effects.
Employees at the Eindhoven facility will continue to work toward bringing
this technology to market. In the future, the site will serve as a global
research and development center for Medtronic's Neuromodulation business,
complementing its existing R&D operations.
Medtronic and Sapiens SBS will work to finalize product development and
begin clinical research to integrate these technologies into an expanded
portfolio of DBS products within Medtronic's Neuromodulation business.
EdRIP co-led the series A round of Sapiens SBS as a spin-off from Philips
Healthcare in 2011 to back the founders Sjaak Deckers, Hubert Martens and
Michel Decre who believed that a much better resolution of the applied
current in deep brain stimulation (DBS), could significantly improve the
therapeutic window of DBS.
In a very short time frame, Sapiens confirmed its initial hypothesis in
acute human trials in Parkinson patients and became a clear leader in
developing significantly improved devices for DBS therapeutic applications.
In 2013, medtech veteran Jan Keltjens became the company's CEO and under
his leadership the product was further advanced and refined.
"Since 2011, Sapiens SBS employees have worked tirelessly to develop an
EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS PARTICIPATION IN SAPIENS
STEERING BRAIN STIMULATION, DEVELOPER OF DEEP BRAIN STIMULATION SOLUTIONS
TO MEDTRONIC
This operation is the sixth trade sale of BioDiscovery 3, the fourteenth
from the BioDiscovery funds
Edmond De Rothschild Investment Partners (EdRIP) announced today that its
BioDiscovery 3 portfolio company, Sapiens Steering Brain Stimulation
(Sapiens SBS) a privately held developer of deep brain stimulation (DBS)
technologies, has been acquired by Medtronic, Inc. (NYSE: MDT) for
approximately $200 million in an all-cash transaction.
Sapiens SBS, located in Eindhoven, The Netherlands, is developing a DBS
system that features an advanced DBS lead with 40 individual stimulation
points. This advanced system is designed to allow more precise stimulation
of the intended target in the brain and may potentially result in reduced
procedure time and fewer stimulation-induced side effects.
Employees at the Eindhoven facility will continue to work toward bringing
this technology to market. In the future, the site will serve as a global
research and development center for Medtronic's Neuromodulation business,
complementing its existing R&D operations.
Medtronic and Sapiens SBS will work to finalize product development and
begin clinical research to integrate these technologies into an expanded
portfolio of DBS products within Medtronic's Neuromodulation business.
EdRIP co-led the series A round of Sapiens SBS as a spin-off from Philips
Healthcare in 2011 to back the founders Sjaak Deckers, Hubert Martens and
Michel Decre who believed that a much better resolution of the applied
current in deep brain stimulation (DBS), could significantly improve the
therapeutic window of DBS.
In a very short time frame, Sapiens confirmed its initial hypothesis in
acute human trials in Parkinson patients and became a clear leader in
developing significantly improved devices for DBS therapeutic applications.
In 2013, medtech veteran Jan Keltjens became the company's CEO and under
his leadership the product was further advanced and refined.
"Since 2011, Sapiens SBS employees have worked tirelessly to develop an