Nuviant Medical Receives €3.4M from BioWin to Further Advance Closed Loop Neurostimulation System for E-Health Initiative

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Company Plans to Grow Its Wallonia Team with 25-30 New Hires in Three Years

Liege, Belgium, Jan. 8, 2015 -- Nuviant Medical ("Nuviant" or "the Company") announced that its CardiaX Project was awarded a €3.4 million research grant from the Walloon Region government in coordination with the region's health competitiveness cluster Biowin. This grant will support continued development of digital healthcare solutions related to implantable medical devices.

Nuviant joined the Walloon Region Consortium in 2013 via its wholly-owned subsidiary, Rosellini Scientific Benelux (RSB).  It has benefited from consortium partnerships with iSTAR Medical, the Catholic University of Louvain, and the University of Liege as well as collaboration with other Wallonia-based companies including Medi-Line, Lambda-plus, IOL, and recently the new Creative Wallonia supported WeLL (Wallonia E-health Living Labs).  The Company has expanded its manufacturing capacity in Belgium by opening an office in Liege, which includes a new ISO Class 6 cleanroom, and by hiring five full-time employees.  Over the next three years, the Company  plans to transfer moremanufacturing operations to Belgium and to hire 25-30 additional employees.

"The support we have received from the Walloon Region as well as our neighboring partners has expedited our ability to develop advanced e-health solutions for patients suffering from neurological diseases.  It is our belief that a more holistic approach to the application of neurostimulation which includes signals from the heart will usher in a new era of neurotechnological advances.  Belgium has been a world leader in these innovations for a number of years." stated Nuviant's Chairman and Managing Director of RSB, Hartmut Spitaels.  "The Walloon Region has solidified an environment that facilitates the design, manufacturing, and testing of our implantable systems."

Minister Marcourt 's administration has approved another Biowin innovation project in digital healthcare, one of the key strategic spearheads of his tenure, as he believes this will have major benefits for the economy.  The Biowin-supported CardiaX program aims to incorporate digital healthcare with key actors in the Liege area.  Nuviant Medical, the project sponsor, is currently transferring its manufacturing of implantable devices to the Region.  This will enhance the know-how and economic activity for some high-tech medical device companies in the Region. The supply-revenue that would come to the Liege-based suppliers would be of significant value once the innovation gets commercially deployed.

As Vice-president of the Government of Wallonia and the Federation Wallonie-Bruxelles and Minister of Economy, Jean-Claude Marcourt, wishes to highlight the success of the Cardiax project which is born in the heart of collaborations initiated by the Biowin cluster: "This profitable collaboration between two renowned industrial partners i.e. [RSB] and Istar Medical, in perfect connection with two regional academic associations, namely the Catholic University of Louvain and the University of Liège, demonstrates once again that strong innovative ecosystems strengthen the policy of competitive clusters I launched 8 years ago. This policy leads on high added-value projects."

The Minister underlines that "the setting up of joint research projects is more and more integrated in the DNA of new science businesses operating in Wallonia.  It is a good omen for the economical development but also for the prosperity of employment in our region."

About Nuviant Medical

Nuviant is developing implantable neurostimulation systems for the relief of various chronic diseases and disorders. Nuviant's first product, the Synapse™ system, has received the CE Mark for certain movement disorders. Nuviant intends to use the product in additional human clinical studies and prepare it for commercialization in select world markets. Nuviant Medical has produced and tested its device in accordance with FDA Good Manufacturing Practices in its 10,000 square foot state of the art cleanroom. For more information on Nuviant Medical, please visit our website at www.nuviantmedical.com.