WISE Raises €30 Million in Oversubscribed Series D Round to Advance Heron Spinal Cord Stimulation Lead and Expand Neurotechnology Platform
WISE S.p.A., an Italian medical device company developing advanced implantable electrodes for neuromonitoring, neuromodulation, and brain-computer interface applications, has completed an oversubscribed Series D financing round worth €30 million, providing fresh capital to accelerate the development of its spinal cord stimulation lead Heron®, expand commercialization of its broader electrode portfolio, and strengthen its position in the rapidly evolving neurotechnology market.
The financing marks an important milestone for WISE as it moves from technology development into a more commercially focused phase of growth. The company is positioning itself at the intersection of chronic pain treatment, intraoperative neurophysiological monitoring, and next-generation neural interfacing, with a platform built around soft, stretchable implantable electronics designed to improve conformability, signal quality, and therapeutic precision compared with conventional rigid devices.
The final close of the Series D round also introduces ENEA Tech and Biomedical to WISE’s investor base as a strategic partner. ENEA Tech and Biomedical is an Italian foundation focused on innovation and technology transfer in the biomedical field, and its participation adds a new institutional backer with a mandate aligned closely to WISE’s ambition of translating advanced medical technologies into clinical use.
For WISE, the completion of the financing provides both capital and validation. The round was oversubscribed, indicating strong investor demand and confidence in the company’s technology platform, clinical strategy, and long-term market opportunity. At the same time, the financing is structured to support a very practical set of next steps: moving the Heron lead through regulatory and clinical development, scaling commercialization of already approved products, and building the operational infrastructure needed to support growth across multiple neurotechnology segments.
Final Closing Builds on Earlier 2024 Financing Milestone
The newly announced close builds on a first closing completed in June 2024, meaning the Series D round has been assembled in stages rather than through a single financing event. That first closing included a venture debt facility from the European Investment Bank (EIB) backed by InvestEU, as well as an equity investment from Wallaby S.p.A., the family office of the Scagliarini family of GVS S.p.A.
The earlier tranche also included continued support from WISE’s existing financial partners, including New Frontier S.r.l., Eureka Venture SGR, and Indaco Ventures SGR. By combining venture debt, new equity, and participation from existing investors, WISE appears to have built a financing package designed not only to fund innovation but also to balance strategic backing with financial flexibility.
The addition of ENEA Tech and Biomedical at the final closing gives the round a broader strategic dimension. Unlike purely financial investors, ENEA Tech and Biomedical’s mandate is tied to advancing biomedical innovation and supporting technology transfer, making it a potentially valuable partner as WISE works to bridge the gap between research, clinical development, and commercial deployment.
Heron Lead Becomes the Central Focus of the New Capital Raise
The primary use of the new capital will be to accelerate development and clinical adoption of Heron®, WISE’s flagship product in spinal cord stimulation. The Heron lead is designed for use in spinal cord stimulation (SCS), a therapy commonly used to treat chronic pain by delivering electrical pulses to the spinal cord to modulate pain signaling.
WISE is positioning Heron as a meaningful step forward in SCS lead design. According to the company, it is the first spinal cord stimulation lead engineered to deliver targeted, directional stimulation through a minimally invasive percutaneous implant technique, while also aiming to capture some of the therapeutic advantages traditionally associated with more invasive surgical paddle leads.
This is a significant distinction because the spinal cord stimulation market has long balanced tradeoffs between two main lead types. Surgical paddle leads are often valued for their stability, directional control, and efficient stimulation delivery, but they typically require a more invasive implantation procedure. Cylindrical leads, by contrast, can be implanted percutaneously with lower procedural burden, but may offer less precision or stability in certain cases. WISE says Heron is designed to bridge that gap by combining the precision of paddle leads with the lower procedural burden of cylindrical leads.
If the device performs as intended, that combination could be meaningful for physicians and patients alike. WISE says the Heron lead is designed to improve energy efficiency, deliver better anatomical coverage, enhance neural signal sensing, and reduce lead migration, all of which are important considerations in the long-term effectiveness of spinal cord stimulation therapy.
Targeting a Large Chronic Pain Market with a Differentiated Device
The strategic importance of Heron lies not only in its design, but in the market it is intended to serve. Chronic pain remains one of the largest and most persistent therapeutic challenges in medicine, and spinal cord stimulation is a well-established interventional option for certain patients whose pain is refractory to more conservative approaches. The global SCS market is worth billions of euros and continues to attract investment and innovation as device makers work to improve patient outcomes, simplify procedures, and expand physician adoption.
WISE believes Heron addresses a long-standing unmet need in this market by improving how stimulation is delivered while reducing the burden of implantation. The company’s leadership has framed the product as a potential platform-defining asset—one capable of moving WISE beyond its existing electrode business and into a much larger chronic pain therapy market.
The proceeds from the Series D financing are expected to support several Heron-related milestones. These include advancing the device through its regulatory certification pathway, funding its first-in-human study, and laying the groundwork for broader clinical adoption. In practical terms, this means the company is moving from a product-development phase into the more demanding territory of clinical evidence generation, regulatory engagement, and commercial preparation.
Financing Will Also Support Commercial Expansion of WISE’s Broader Electrode Portfolio
Although Heron is the headline program, it is not the only beneficiary of the new capital. WISE said the proceeds will also support commercial scale-up of its full electrode portfolio across target markets, reinforcing the fact that the company is building a broader neurotechnology business rather than a single-product story.
One of the most important products in that portfolio is the WISE Cortical Strip (WCS®), which the company describes as the first soft, stretchable electrode designed for intraoperative neurophysiological monitoring (IONM) during brain tumor and epilepsy surgery. Intraoperative monitoring is a critical part of many neurosurgical procedures because it helps clinicians assess brain function and minimize the risk of damaging eloquent cortical regions during surgery.
WISE says the WCS is differentiated by its softness and stretchability, which may help improve tissue conformability and contact compared with more conventional cortical strip electrodes. Those characteristics are not merely engineering details—they are central to how the company is trying to distinguish its products clinically. In neuromonitoring and neuromodulation, how well an electrode conforms to tissue can affect signal quality, stimulation precision, stability, and potentially patient safety.
The WCS already has important regulatory credentials. It carries a CE mark under the Medical Device Regulation (MDR) and, according to the company, was the first cortical strip for IONM to achieve this certification. It also has FDA clearance and is already commercially available in Europe, the United States, and Australia. That means WISE is not starting from zero on the commercialization front; it already has a product in the market and can use the new capital to expand distribution, physician awareness, and market penetration.
Supersonic Technology Forms the Core of WISE’s Platform
Underlying both Heron and WCS is WISE’s proprietary Supersonic Technology, which the company describes as a manufacturing platform for implantable electrodes and brain-computer interface systems built from stretchable electronic circuits integrated into ultra-thin elastomeric foils.
This technology is central to WISE’s identity and competitive positioning. Traditional implantable electrodes are often rigid or relatively inflexible, which can create limitations in how well they conform to soft neural tissue. Poor conformability can affect both comfort and performance, especially in applications where close, stable contact with tissue is important for accurate neural recording or efficient stimulation.
WISE argues that its soft, stretchable devices offer several advantages over conventional rigid electrodes, including improved tissue conformability, softness, and adhesion. These characteristics are especially relevant in neuromonitoring and neurostimulation because they may enhance signal acquisition, improve stimulation targeting, and reduce mechanical mismatch between the device and biological tissue.
The platform also has implications beyond the company’s currently marketed and near-term products. Because the same core technology can be applied to neuromonitoring, neuromodulation, and brain-computer interface systems, WISE is effectively building a materials and device platform with multiple possible commercial pathways. That gives the company optionality: success in one product category can support credibility, cash flow, and know-how that can later be applied to adjacent neural interface applications.
Brain-Computer Interface Ambitions Add to the Long-Term Growth Story
While the most immediate commercial focus appears to be spinal cord stimulation and intraoperative monitoring, WISE’s platform is also relevant to the growing field of brain-computer interfaces (BCIs). BCI development has become one of the most closely watched frontiers in medical technology, driven by the promise of restoring communication, movement, and neurological function in patients with severe disability.
In this context, WISE’s expertise in soft implantable electrodes could become strategically important. BCIs require neural interfaces capable of reliably recording or stimulating signals in highly delicate environments, often over long periods of time. Devices that are more flexible, conformable, and less mechanically disruptive may offer advantages in these settings.
Although the current financing announcement is centered on Heron and the broader commercial scale-up of WISE’s existing portfolio, the inclusion of BCI in the company’s technology focus reinforces that investors are backing not just a pain-device company or a neurosurgery-tool provider, but a broader neurotechnology platform that may have relevance across several future markets.
Governance Strengthened with New Leadership Appointments
Alongside the financing, WISE also announced governance changes that appear designed to support the company’s next phase of growth. Laura Iris Ferro has been appointed Chairperson of the company, while Giuseppe Corvino has joined the Board of Directors.
Ferro brings significant credibility in European biotech and life sciences. She is best known as the founder of Gentium, a Nasdaq-listed company that was acquired by Jazz Pharmaceuticals in 2014 in a deal worth approximately $1 billion. She is currently President and co-founder of Bio4Dreams and is involved in a range of leadership and investment roles across life sciences companies.
Her appointment is notable because it adds a highly experienced operator and biotech entrepreneur to WISE’s governance structure at a time when the company is transitioning from a development-stage medtech innovator into a business that must execute on regulatory, clinical, and commercial milestones. Scaling a medical device company requires more than technology—it also requires disciplined governance, strategic capital deployment, partner engagement, and operational focus. Ferro’s background suggests WISE wants leadership that understands how to navigate that kind of growth.
Giuseppe Corvino’s addition to the board further expands the company’s leadership bench, although the announcement places greater emphasis on Ferro’s profile and strategic role.
Investor Support Reflects Confidence in WISE’s Technology and Market Position
Commenting on the financing, WISE Chief Executive Officer Luca Ravagnan said the oversubscription of the Series D round reflects the strength of what the company has built across technology, medical research, and its relationships with clinicians and partners. He described the addition of ENEA Tech and Biomedical as an important reinforcement of WISE’s mission to bring transformative neurotechnology to patients worldwide.
Ravagnan also underscored the commercial ambition behind Heron, describing spinal cord stimulation as a multi-billion-euro market and framing the lead as a product designed to address a long-standing clinical need. He said the financing gives WISE the resources needed to continue moving the product from bench to bedside—a phrase that captures the company’s current position at the intersection of R&D, clinical validation, and commercialization.
Ferro, in her remarks, characterized WISE as a compelling convergence of advanced materials science, neuroscience, and clinical innovation. She said the addition of ENEA Tech and Biomedical to the investor base further validates the company’s achievements and expressed pride in helping WISE scale its technology and deliver high-impact solutions for patients with neurological conditions and chronic pain.
Those comments point to the broader narrative WISE is trying to establish: that it is not simply manufacturing specialty electrodes, but building a clinically meaningful neurotechnology platform rooted in differentiated materials science and capable of addressing large unmet needs in pain and neurological care.
A Pivotal Stage for WISE’s Evolution
The €30 million Series D round appears to place WISE at a pivotal moment in its corporate evolution. The company now has fresh capital to push its flagship spinal cord stimulation lead toward first-in-human evaluation and regulatory advancement, while also expanding commercialization of an already approved cortical monitoring product. At the same time, it is reinforcing its leadership structure with seasoned biotech expertise and broadening its strategic investor base with a foundation focused on biomedical innovation and technology transfer.
For the neurotechnology sector, WISE represents a type of company that investors increasingly find attractive: one with a platform technology, multiple clinical applications, and a mix of near-term commercial assets and longer-term innovation potential. Heron gives the company an entry point into chronic pain, one of medtech’s most commercially important markets. WCS provides a commercial foothold in neurosurgical monitoring. And Supersonic Technology offers a platform that could support future growth in neuromodulation and brain-computer interfaces.
The next stage will be critical. WISE must convert investor enthusiasm into clinical execution, regulatory progress, and commercial traction. If Heron can demonstrate the advantages the company is promising—precision stimulation, reduced invasiveness, improved stability, and better sensing—it could become a significant differentiator in spinal cord stimulation. If WCS continues to gain traction, it can help validate the broader platform and support market expansion.
For now, the Series D financing gives WISE the resources and momentum to pursue both objectives. In an industry where capital-intensive innovation often rises or falls on the ability to translate elegant engineering into real-world clinical value, WISE has just secured a larger runway to prove that its soft, stretchable neurotechnology can do exactly that.
