US-based medical technology company INBRAIN Neuroelectronics has secured $50m in a Series B financing round led by Belgium-based venture capital fund imec.xpand.
New investors EIC Fund, Fond ICO Next Tech, CDTI-Innvierte and Avançsa, and existing investors Asabys Partners, Aliath Bioventures and Vsquared participated in the financing round.
In addition to the Series B round, which brings its total investment to $68m, the company also secured additional funding and support from Germany-based Merck.
The partnership aims to advance its technology platform for human use, across both central and peripheral nervous system applications, said the medical technology company.
imec.xpand partner Frank Bulens said: “INBRAIN Neuroelectronics is pioneering a groundbreaking approach to BCI technology using graphene.
“This unique graphene-based BCI platform has the potential to redefine how we treat neurological disorders by offering more precise, adaptable, and intelligent therapeutics.
“We look forward to supporting the INBRAIN team in accelerating their clinical trials and bringing this next-generation technology to patients.”
INBRAIN develops brain-computer interface therapeutics (BCI-Tx), leveraging the unique properties of graphene, a material known for its strength, flexibility, and conductivity.
The company’s implant is thinner than human hair and is designed to safely decode and modulate neural signals with superior accuracy.
INBRAIN intends to use the funding to advance its graphene-based BCI-Tx platform, which offers a bidirectional solution to decode and modulate neural activity.
The financing will support the company’s ongoing clinical trials, enabling team expansion and further development of the company’s AI-powered platform to treat neurological diseases.
INBRAIN Neuroelectronics CEO and co-founder Carolina Aguilar said: “This funding empowers us to advance our AI-driven graphene neurotechnology, which has already shown great results versus current commercial neuromodulation technology.
“We are excited to have the support of a top-tier syndicate as we work to bring this technology to patients in need of more precise, personalised treatments.”
As part of the financing, INBRAIN also teamed up with imec, an independent nanoelectronics hub that will help the company scale graphene interfaces at a commercial level.
INBRAIN recently completed the world’s first human application of its graphene-based BCI in an ongoing clinical trial at Salford Royal Hospital in Manchester, UK.
European Investment Bank Investment Director Marcin Nowak said: “The success of INBRAIN’s first patient procedure and recent funding highlights the innovation we envisioned when we launched the Graphene Flagship project.
“By harnessing the remarkable properties of graphene, INBRAIN is advancing cutting-edge neurotechnology applications that could significantly improve patient outcomes and also position Europe as one of the leaders in the global BCI industry.
“With this important investment, we are proud to support INBRAIN in translating this technology from research into real-world impact on patients’ lives.”
