Synchron Inc. has acquired an equity stake in German manufacturer Acquandas GmbH in a move that will strengthen the company’s innovation and supply chain for its brain-computer interface system, Synchron founder and CEO Tom Oxley said.
Medical technology company Synchron Inc. completed an AU$110 million (US$73.9 million) series C round that will allow the company to conduct a feasibility study and pivotal trial of its implantable brain computer interface that can interpret and stimulate parts of the brain.
Synchron Inc. closed out 2021 by providing an opening for a patient with amyotrophic lateral sclerosis (ALS) to send the first thought transferred to a tweet via an implantable brain computer interface. Philip O’Keefe, who received one of the company’s Stentrode implants in April 2020, took over the Twitter account of Sychron CEO Thomas Oxley to say, “Hello, World. Short tweet. Monumental progress.”
The FDA’s device center has a mantra of sorts when it comes to the details, or lack thereof, in guidance, which is “talk to us early and often.” For device makers eyeing the brain-computer interface (BCI) device space, this mantra has been applied to the question of pivotal study enrollment numbers, suggesting that some sponsors will find their pivotal studies come with a case of sticker shock sufficient to force them to rethink their research and developmental plans.
Synchron Inc. landed $40 million in new funding through a series B fundraising round led by Khosla Ventures. This round brings the total amount raised by the company to $59 million since its founding in 2016. Other participants in the round included Forepont Capital Partners, ID8 Investments, Shanda Group, General Advance, Subversive Capital, and Re.mind Capital as well as Arani Bose and Thomas Reardon. Returning investors included Neurotechnology Investors, Metis Innovative, and the University of Melbourne.
Neurovascular bioelectronics medicine company Synchron Inc. has received good news in the form of a breakthrough device designation for its Stentrode. The U.S. FDA granted the designation for the fully implantable medical device that can translate brain activity or stimulate the nervous system from inside a blood vessel. As a bonus for patients, the device does not require open brain surgery. “As this is a first-of-its-kind device, we look forward to working closely with the FDA to prioritize development of the Stentrode and ensure access for patients with paralysis, as well as lay the groundwork for future indications for brain-computer interfaces,” said Thomas Oxley, CEO of Synchron.