EBT Medical Secures $10M Series A Funding to Advance Non-Invasive Neuromodulation Therapy for Pelvic Disorders

VCBeat (WeChat ID: vcbeat) learned that on November 19, 2019, EBT Medical announced the recent completion of a $10 million Series A financing round. This round was led by SV Health Investors and Genesys Capital.

It is reported that EBT plans to use the funds to further develop its revolutionary non-invasive neuromodulation technology and to seek additional clinical data to verify its safety and efficacy. In addition, the funds will be used for general administration and expanding the company’s management team.

EBT Medical, founded in 2014, is a clinical-stage startup headquartered in Toronto, Canada, with an office in Boston, United States. Spun out of the University of Toronto and successfully incubated through its entrepreneurship program, the company is dedicated to developing breakthrough neuromodulation therapies for the treatment of pelvic disorders.

EBT’s inaugural product is a clinical-grade, non-invasive neuromodulation device and its associated ecosystem, designed for the treatment of overactive bladder (OAB). EBT holds a significant patent portfolio encompassing various neuromodulation technologies, including patents targeting the tibial nerve for all pelvic health indications. The EBT management team and its world-class advisory board bring decades of relevant experience in pelvic health, neuromodulation, and consumer health.

Keith R. Carlton, CEO of EBT Medical, stated, “As EBT enters a new phase of development, the support from SV and Genesys represents a critical step. Leveraging their extensive expertise and investment, we will accelerate the refinement of our non-invasive technology, starting with overactive bladder.”

EBT Medical is seeking a new non-invasive approach to treat overactive bladder (OAB), a condition affecting nearly 550 million patients worldwide. The primary symptom of OAB is urgency urinary incontinence (UUI), which is considered to result from excessive signal transmission between the bladder and the pontine micturition center in the brainstem. Since its initial approval in 1997, neuromodulation has been an established therapy for UUI. EBT’s differentiated approach primarily targets a new stimulation site—the tibial nerve—enabling non-invasive stimulation. Preliminary data indicate efficacy comparable to pharmacological and invasive therapies, but with significantly reduced risks and side effects.

Greg Madden, Partner at SV Health, stated, “We are delighted to co-lead EBT’s Series A financing round alongside Genesys Capital. We believe that EBT’s patented tibial nerve approach has the potential to transform the treatment of overactive bladder (OAB), providing patients with the first non-invasive neuromodulation therapy that can be administered at home. OAB represents a substantial market with significant unmet needs: existing medications carry serious side effects, Botox requires invasive intravesical injections, and current neuromodulation therapies (such as spinal implants and needle-based systems) are also highly invasive.”

Genesys, founded in 2000 and headquartered in Toronto, Canada, is a venture capital firm. The company is dedicated to helping entrepreneurs in North America build companies in high-growth sectors such as healthcare and biotechnology. To date, Genesys has invested in more than 35 early-stage biotechnology and medical technology companies.

SV, a venture capital firm founded in 1993 and headquartered in Boston, Massachusetts, with an office in London, UK, focuses on investments in the healthcare and biotechnology sectors. The company currently manages $2.2 billion in assets within the healthcare sector.

(Compiled by Jiang Ying)