Salvia BioElectronics, a clinical-stage medical device company designing neuromodulation therapy for people with chronic migraine, announced the completion of a $60 million (€53 million) Series B financing round.
The funds will enable Salvia to complete clinical development and prepare for the commercial launch of MySalvia Therapy, which is currently evaluated in the RECLAIM study, a multi-center, double-blind, sham-controlled study for people with chronic migraine. The funds also allow Salvia to focus on obtaining FDA market authorization in the U.S. and regulatory approvals in Europe and Australia.
Salvia is transforming migraine treatment with its proprietary neuromodulation technology, a personalized, minimally invasive therapy designed for people with chronic migraine. Salvia’s ultra-thin implant targets key nerves involved in migraine, aiming to reduce the frequency and intensity of migraine attacks.
Migraine is one of the leading causes of disability worldwide, resulting in an estimated $110 billion annually in lost productivity and medical costs in the EU and US alone. Current treatment options do not always provide sufficient relief, with the majority of chronic patients discontinuing their medication within the first year. This high dropout rate highlights the urgent need for alternative therapies.
Salvia’s FDA-designated Breakthrough Device represents a promising new treatment option for patients who have not responded to available therapies. Early clinical data indicates a potential reduction in the frequency and intensity of migraine attacks when using the company’s neuromodulation technology. The RECLAIM study is currently underway in Europe and Australia, with additional studies planned in the US to evaluate the therapy’s safety and effectiveness.
