University of Milan spinout Wise is a developer of low-invasive neuromodulation implants for treating pain and neurological disorders.
Wise, an Italy-based neuromodulation implant technology spinout of University of Milan, closed a €15m ($17.6m) series C round yesterday featuring public-private partnership High Tech Gründerfonds (HTGF).
CDP Venture Capital – National Innovation Fund, a vehicle raised by Italian development bank Cassa Depositi e Prestiti, led the round with further commitments from Eureka! Venture, Indaco Ventures I, Principia, New Frontier, Atlante Seed, Atlante Ventures and F3F.
Founded in 2011, Wise develops implants that transmit electric pulses to control brain activity as a means of treating chronic pain disorders and brain diseases such as Parkinson’s.
The implants fold up and enter the skin through a catheter, avoiding the need for open surgery. Multipronged leads help control the electric pulses more effectively.
The series C cash will fund preparations for the US and EU launch of Wise’s first product, a disposable cortical strip that monitors brain activity during surgical treatments for tumours and epilepsy.
A share of the proceeds will also enable progress on its paddle lead for spinal cord stimulation.
Wise closed a $7.3m series B round in 2017 led by Principia and backed by HTGF, Atlante Ventures, F3F and Antares.
Principia had also led a $3.4m series A round in 2015 with contributions from HTGF, Atlante Ventures, Atlante Seed, F3F, B-to-v Partners and Antares.
