Aleva Neurotherapeutics is taking its directSTIM deep brain stimulation system to the European market following receipt of CE mark. With a fresh round of financing under its belt, Aleva has its eyes on the US next.

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Venture Funding Deals column provides a comprehensive monthly review of emerging life science companies that have received venture funding, including companies within the In Vitro Diagnostics, Medical Devices, and Pharmaceuticals sectors. This month’s column covers deals announced May through June.

In the $3.2 billion market for neuromodulation devices, competition is heating up in the spinal cord stimulation (SCS) segment as device manufacturers armed with new clinical trial data and next-generation technologies disrupt the status quo of standard tonic SCS systems and begin to expand the market, shift market share and boost the revenues of companies both large and small. Innovation is fueling healthy growth in this market, particularly in the US, where the market is projected to grow from around $1.13 billion in 2014 to almost $1.62 billion in 2019, a CAGR of 7.5%.

Deep brain stimulation (DBS) currently comprises only about a quarter of the worldwide neuromodulation device market, but growth in this segment is strong. Both large and small competitors have targeted DBS, which has the potential to address a number of highly prevalent and underserved diseases and disorders.