Rosellini Scientific Benelux to change its name to Nexeon Medsystems Belgium, SPRL
Liege, Belgium, October 28th,2016- Rosellini Scientific Benelux, SPRL (“RSB”), announced today that it intends to enter an option agreement to be acquired by a wholly-owned subsidiary of Nexeon Medsystems, Inc. (“Nexeon” or “the Company”); this transaction will be accompanied by a name change for RSB to Nexeon Medsystems Belgium, SPRL. Previously, RSB acquired Synaptix, SPRL, a Belgian-based company with a CE marked deep brain stimulation system in addition to industry-leading design and manufacturing resources. Nexeon expects to continue to increase its manufacturing and IP licensing capabilities and operations in Belgium.
“We are focused on finalizing our corporate structure to provide maximum value and transparency for our shareholders,” said Nexeon Chairman and Chief Executive Officer Will Rosellini. “With this transaction, I am bringing all of my teams, companies, and product thrusts into one company: Nexeon Medsystems.”
Rosellini has been focused on neurotechnology for nearly 15 years, earning 6 graduate degrees and starting and exiting several neurology-focused companies including Sarif Biomedical, Lexington Technology Systems, and TeleMend Medical. He is also responsible for founding Microtransponder, a Texas-based neurostimulation company currently conducting clinical studies in Europe and US to develop its neurostimulator for the relief of tinnitus. In 2013, Rosellini formed RSB in Belgium to collaborate within the Walloon Region Consortium to develop a wireless intra-ocular pressure monitor in the iStar program.
“Once our team was working in Belgium with our first clinical study in 2007, I quickly recognized the talent and opportunity available here,” said Rosellini. “This has been and continues to be an ideal environment to innovate intellectual property, grow emerging science programs, and recruit some of the best scientists and engineers in the world to work with us.”
Rosellini’s first recruit was Hartmut Spitaels, the former CEO of Synaptix and later President of RSB. Under the leadership of Spitaels, RSB acquired Synaptix, a closed-loop neurostimulation company, and received a €3.4M Biowin Award to advance this technology for the e-health initiative.
In 2016, GlaxoSmithKline (“GSK”) selected RSB’s technology to be used in its bioelectronics R&D program. The day after the deal was funded, a day most would consider to be the pinnacle of Spitaels’ career, Spitaels tragically died of a rare brain stem stroke. Despite the unforeseen hardship of losing vital leadership, the RSB team was able to deliver the first batch of product to GSK on time.
Nexeon recently filed a Form 10 Registration Statement with the US Securities and Exchange Commission (SEC) to become an SEC-reporting public company. The Company has leveraged angel investments as well as grants awarded to various Rosellini entities from the US National Institute of Health and the Belgian government to develop the platform technology. Nexeon expects to launch EU sales of the deep brain stimulation technology next year under a CE Mark.
At the core of the technology is a state-of-the-art programmable microchip (or ASIC), which serves as the engine for a general-purpose neurostimulation platform of the future. This versatile engine provides enabling capabilities for MRI-safe neural stimulation, recording, and intelligent electrode programming, all of which are adaptable to the industry’s shrinking form factors. The technology also includes embedded software that allows for complete customization of output parameters for advanced waveform modes.