The about $50m raised at the mid-price would give the company an initial market capitalisation of about $239m on the Nasdaq stock exchange, according to its latest regulatory filing.

Seven start-ups pitched the audience for early stage investment, at the inaugural European event of Healthbox, the incubator backed by Sandbox Industries.

Venture capital firms SV Life Sciences, New Leaf Ventures and International Biotechnology Trust also invested.

Body Media previously raised $6m.

Cerbomed, a Germany-based medical device company that focuses on neuromodulation to treat mental illness, has raised $2.6m from peer Cyberonics.

In February last year, Versartis raised $21m in its series B round from a company including drugs group Amunix.

Teva still owns a minority stake in Alcobra, Globes added and said former Teva vice-president of innovative ventures, Aharon Schwartz, is now Alcobra's chairman.

Google Ventures, the corporate venturing unit of the eponymous search engine provider, led the A round.

Burrill, a US-based merchant bank focused on life sciences, has opened a Moscow, Russia, office led by managing director Irena Melnikova, who previously was a director of strategy and external innovation at drugs group Sanofi and a principal with TVM Capital.