EBT Medical, Inc., a 2018 UTEST company, is developing disruptive neuromodulation therapies for pelvic health disorders, recently secured a USD$10M Series A investment, co-led by two top-tier venture capital firms, SV Health Investors and Genesys Capital.
EBT intends to use the funding to further develop its revolutionary noninvasive neuromodulation technology, as well as to pursue additional clinical data validating its safety and effectiveness. Funding will also be used to expand the management team and for general administrative purposes.
“Having SV and Genesys on board is an extremely important step as EBT enters a new phase of growth,” said Keith R. Carlton, CEO of EBT. “With their substantial expertise and investment, we will significantly accelerate our efforts to perfect our noninvasive technology, starting with overactive bladder.”
EBT is pursuing a new noninvasive approach to treating overactive bladder (OAB), which affects nearly 550M patients worldwide.1 EBT's differentiated approach centers on a new stimulation target—the Saphenous nerve—which can be stimulated noninvasively. Preliminary data suggests similar efficacy to drugs and invasive therapies, but with significantly reduced risk and side effects.
“We are excited to be co-leading EBT's Series A investment alongside Genesys Capital,” said Greg Madden, Partner at SV Health. “We believe EBT's patented Saphenous nerve approach is a potential game-changer, enabling the first at-home, noninvasive neuromodulation therapy for OAB. OAB is a massive market with large unmet needs: drugs have dangerous side effects, Botox® requires invasive bladder injections, and existing neuromodulation therapies are also highly invasive, involving spinal implants and needles.”
Prior to this Series A, EBT has received substantial support and funding from the following: AGE-WELL (https://agewell-nce.ca), the Canadian Institutes of Health Research (http://www.cihr-irsc.gc.ca), the Global Center for Health Innovation (https://mcic.bioenterprise.com), the Natural Sciences and Engineering Research Council of Canada (https://www.nserc-crsng.gc.ca), Toronto Innovation Acceleration Partners (https://tiap.ca), the Innovations & Partnerships Office at the University of Toronto (http://www.research.utoronto.ca/industry-and-partners/commercialization-at-u-of-t), the University of Toronto Early Stage Technology (UTEST) Program (http://utest.to), and the Connaught Fund at the University of Toronto (http://connaught.research.utoronto.ca). EBT also won the Diamond Prize in the MassChallenge startup competition in late 2018 (https://masschallenge.org).