Synchron, a New York-based company developer of brain interface platforms, raised $40M in series B funding.
The round, which brought the total amount raised since company formation to $59m, was led by Khosla Ventures with participation from Forepont Capital Partners, ID8 Investments, Shanda Group, General Advance, Subversive Capital (Michael Auerbach), re.Mind Capital (Christian Angermayer), as well as individuals Arani Bose (Penumbra) and Thomas Reardon and existing investors NeuroTechnology Investors, METIS innovative, and the University of Melbourne.
The company intends to use the funds to launch U.S. clinical trials of minimally invasive brain computer interface following the conduction of human trials in Australia.
Led by CEO Thomas Oxley, MD, PhD., Synchron is a leader in minimally invasive implantable brain computer interface (BCI) technology, which utilizes the jugular vein to access the brain. The company has already commenced a clinical trial in Australia that has so far enrolled four patients with paralysis who have undergone implantation and are being assessed for their ability to control digital devices through thought to improve their functional independence.
Synchron’s motor neuroprosthesis platform, which includes the Stentrode, aims to restore the ability of patients to control digital devices. The neuroprosthesis is designed to convert the thoughts associated with attempted movements into wireless Bluetooth commands, enabling communication with their carers and loved ones, and improving their daily functionality. The device is inserted using a minimally invasive neurointerventional procedure commonly used in the treatment of stroke.
The company has 60 patent applications in the interventional neuro electrophysiology space spanning conditions including paralysis, epilepsy, depression, Parkinson’s disease, pain, addiction and non-medical applications.
Synchron also has offices in Silicon Valley, California and R&D facilities in Melbourne, Australia.