Synergia raises €8.1 million in Series A

Synergia raises €8.1 million in Series A

- Novel opto-electronic neurostimulation device in final testing prior to CE mark submission -

- Board strengthened with appointments of Reinhard Krickl as Chairman, and Guy Heynen MD and Pierre Detrixhe -

Mont-Saint-Guibert, Belgium, 19 February 2018: Synergia Medical SA ("Synergia" or the "Company"), an opto-electronics pioneer developing next generation medical devices for neurostimulation, announces that it has raised €8.1 million in a Series A funding round from new and existing investors.

New investor Newton Biocapital led the Series A round and was joined by other new investors Financière Spin-off Luxembourgeoise and Belgian regional growth funds SRIW (Société Régionale d'Investissement de Wallonie) and SFPI-FPIM (Belgian Federal Holding and Investment Company). The funds will be used to bring Synergia's vagus nerve stimulation device NAOS through final testing prior to CE mark submission.

Neurostimulation therapy is the delivery of electrical impulses to the nerves or brain to treat neurological disorders, a market estimated to be worth approximately $3.7 billion today. Synergia's NAOS system is a next-generation, small-form, MRI-safe, implanted neurostimulation device which stimulates the vagus nerve. In Synergia's novel system, which incorporates the very latest advances in biomaterials, optical components, biosensors and microelectronics, the wires of a traditional neurostimulator have been replaced by optical fibres and photovoltaic cells at the tip of the fibres to convert monochromatic optical energy to electrical impulses.

Synergia is currently developing NAOS for the treatment of drug-resistant epilepsy, and the Company is conducting advanced-stage testing of the device ahead of CE mark filing expected in 2019. Synergia will also prepare for regulatory approval in the United States where neurostimulation is increasingly prevalent.

In association with the financing, Synergia has also strengthened its Board of Directors with the appointments of Reinhard Krickl as Chairman, and Guy Heynen MD of Newton Biocapital and Pierre Detrixhe of Financière Spin-off Luxembourgeoise as Non-Executive Directors. Reinhard joined Synergia as an Independent Director in 2017, particularly supporting the Company through this investment round. In almost 20 years in medical devices, including at Medtronic, Inc., Reinhard has gained extensive experience in developing medtech innovation into successful businesses, in both the big corporate as well as the start up spaces. He is also CEO of Phagenesis Ltd, managing its sale to Nestlé Health Science in 2016, which is expected to be completed in 2019.