CFP BioConnect AG – now ACXIT Capital Partners – advises cerbomed GmbH on financing and strategic collaboration
September 2012. CFP BioConnect – now ACXIT Capital Partners – acted as sole financial advisor to cerbomed GmbH (cerbomed, the “Company”), based in Erlangen, in a financing round led by US company Cyberonics, Inc. (NASDAQ: CYBX), the market leader in medical devices for the treatment and management of epilepsy. The initial investment of Cyberonics will amount to €2 million, but could be increased to up to €5.5 million, once certain milestones are achieved.
Cerbomed is a privately held company developing a transcutaneous (non-invasive) vagus nerve stimulation (“t-VNS®”) technology for the treatment of drug-resistant epilepsy, but also for a variety of other neurological disorders, including migraine and depression. The NEMOS® t-VNS® device received CE Mark approval for the indications epilepsy, depression and pain in Europe, and is already commercially available in Germany and Austria.
Along with the above mentioned minority investment, Cyberonics was granted an option to sell and distribute the NEMOS® system worldwide in the epilepsy indication. Furthermore, Cyberonics will be represented on cerbomed’s Advisory Board. The proceeds from this funding round will be used to support the Company’s ongoing clinical trial in epilepsy in Germany. Other investors participating in this round are existing investors MIG Funds, S-Refit and state-owned KfW Banking Group.
“We are extremely pleased having attracted Cyberonics, the world market leader in vagus nerve stimulation (“VNS”) as our strategic global partner in the epilepsy indication and to welcome them as an additional shareholder. We feel that this move by Cyberonics is a very strong validation of our technology. We have been impressed with the high quality advice we have received from CFP BioConnect, our financial advisor on this complex transaction. CFP turned out to be the right partner for us given their broad expertise on financing and M&A in the Life Sciences arena.”
– Andreas Hartlep, CEO of cerbomed
This transaction further enhances CFP BioConnect’s track record in the medical technology sector. It also demonstrates that CFP group has a truly global reach, not only among financial investors, but also with respect to gaining access to industrial companies with an interest to invest in emerging technologies.
About ACXIT Capital Partners
ACXIT Capital Partners is a leading international corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. Since 1998, we offer our clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as restructuring, debt and strategic advisory. As an independent, privately owned firm we maintain offices in Frankfurt, Berlin, Munich, Zurich, Vienna and Hong Kong as well as strong alliances in China, India and the USA.
To date, we have completed more than 350 transactions with a total deal/financing volume of approx. EUR 17bn. Our clients are corporations, family-owned businesses, entrepreneurs, financial sponsors and family offices. While our home market is in the German speaking region, most clients are international and transactions cross-border. (www.acxit.com)
ACXIT Capital Holding GmbH
60323 Frankfurt am Main
Dr. Ingmar Ackermann, Managing Partner