MindMaze Group Secures USD 125 Million Financing to Accelerate Commercialization and Expansion of its Digital Neurotherapeutics Platform
LAUSANNE, Switzerland and PARIS and MONTPELLIER, France and LONDON and BALTIMORE, Oct. 7, 2021 /PRNewswire/ -- MindMaze, a global pioneer in the multibillion-dollar digital neurotherapeutics market, today announced the closing of a USD 125 million investment round that will be utilized to drive the continued growth of its SaaS-based digital neurotherapeutics platform. The financing was provided by AlbaCore Capital Group, one of Europe's leading specialist investors focusing on public and private corporate credit markets. MindMaze will use the proceeds to accelerate commercialization of, and enhance market access for, its approved and reimbursed neuro-rehabilitation platform, particularly in North America and Europe, and expand its neuro-restorative portfolio through further system development and clinical trials in additional indications including acute stroke, Parkinson disease, Alzheimer disease, traumatic brain injury, multiple sclerosis and aging. The investment in MindMaze represents one of the top-three private capital raises in the Continental European digital health space and will serve to bolster one of the premier European HealthTech leaders.
MindMaze is the global leader in digital neurotherapeutics, delivering seamless digital assessments and therapeutics over the full continuum of care in over twenty countries, with thousands of patients suffering from neurological conditions. The Company currently collaborates with approximately ninety healthcare providers and has a product portfolio that has received three FDA clearances and four CE marks across eight clinical indications. Backed by over seventy patent families, MindMaze's innovative digital neurotherapeutics platform combines highly engaging, personalized, protocolized, quantified, gamified digital therapeutic content supported by tailored smart peripherals that target two distinct areas of care: neuro-rehabilitation and neuro-restoration. MindMaze is partnering with leading academic and medical institutions, including Johns Hopkins University School of Medicine, the Mount Sinai Health System and the University of California San Francisco (UCSF) in the United States, the Lausanne University Hospital (CHUV) and the Swiss Federal Institution of Technology (EPFL) in Switzerland, and the Institute for the Brain and Spinal Cord (ICM) in France, to further develop and demonstrate the efficacy of its market leading solution set.
"MindMaze is dedicated to improving the lives of patients around the world through the development of novel digital therapeutic products for the treatment of serious neurological conditions. We have built the leading neuro-focused digital health platform comprehensively addressing full body motor and cognitive challenges associated with key neurological conditions. We believe that the demands of a rapidly aging world population make our proprietary, proven solutions more critical now than ever before," stated Tej Tadi, PhD, MindMaze founder and CEO. "This investment by AlbaCore will allow us to accelerate our proven neuro-rehab platform and advance commercialization of our evidence-based neuro-restorative solutions in stroke, traumatic brain, aging and Parkinson disease. One avenue to pursue will be to partner with pharmaceutical companies to promote brain repair by combining our digital therapeutic neurorestorative approach with emerging drug discovery. We are thrilled to partner with AlbaCore as we build the leading universal platform for brain health and recovery. This financing will enable our dedicated team and partners to advance in our mission to help patients recover, learn and adapt through advanced neuroscience and digital therapeutics."
AlbaCore Capital Group's Managing Partner and Chief Investment Officer, David Allen, says: "We are excited to partner with MindMaze and empower their critically important mission to change the face of brain health and recovery through advanced digital tools. At AlbaCore, we look to be a creative solutions provider with partnership at the core of everything we do. We believe that MindMaze is positioned to dramatically improve care for millions of patients, and with this fresh capital will be able to rapidly scale."
Citi acted as the exclusive Placement Agent in the transaction.
About MindMaze
MindMaze is a global leader in digital neuro-therapeutics (DTx) solutions with a mission to accelerate the brain's ability to recover, learn and adapt. With over a decade of work at the intersection of neuroscience, bio-sensing, engineering, mixed reality and artificial intelligence, its healthcare division is addressing some of the most challenging problems in neurology, including stroke, Alzheimer disease and Parkinson disease, by creating the universal platform for brain health and recovery and unique digital therapeutic interventions. MindMaze's pioneering FDA cleared and CE marked neuro-digital therapeutics accelerate patients' recovery from many critical neurological conditions. Founded in 2012 by CEO Dr Tej Tadi, MindMaze is the first Swiss Unicorn with offices in Lausanne, Baltimore, London, Paris and Mumbai.
For more information, please visit www.mindmaze.com.
About AlbaCore Capital Group
AlbaCore Capital Group is one of Europe's leading specialist credit investors focusing on public and private corporate credit markets. The senior investment team have been investing with this hybrid strategy for over a decade. Founded in 2016, AlbaCore has invested over $17bn for global pension funds, sovereign wealth funds, consultants, insurance companies, family offices and endowments. AlbaCore is focused on consistently outperforming the market in the long term while protecting investor capital. The credit selection process is based on fundamental research with a focus on capital preservation, ESG factors and risk-adjusted returns. Headquartered in London with offices in New York and Dublin, AlbaCore has a partnership approach with values at the center of the AlbaCore community.
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