The company INBRAIN Neuroelectronics, a member of CATALONIA.HEALTH, announces the closure of a $50 million Series B financing round. The round has been led by imec.xpand with new investors such as EIC Fund, Fond-ICO Next Tech, CDTI-Innvierte and Avançsa. Existing investors such as CATALONIA.HEALTH members Asabys Partners, along with Aliath Bioventures and Vsquared have also participated. This round brings the total amount raised to $68 million since inception.
In addition, INBRAIN obtains funding and added resources from Merck KGaA to advance the clinical development of its technology in the therapeutic areas of interest of Merck. This alliance will promote the transfer of the INBRAIN platform to human use, expanding its impact in addition to applications in the central nervous system, now also in the peripheral nervous system.
The funding received by the round will allow INBRAIN to accelerate the development of its graphene-based BCI-Tx platform, which offers a bidirectional solution to decode and modulate neuronal activity with an unprecedented resolution in neuronal diseases such as Parkinson's, Epilepsy or stroke rehabilitation. In addition, the funding will support the ongoing clinical trials, will allow the team to expand and continue developing the AI-driven company platform for the treatment of diseases of neurological origin.
Carolina Aguilar, CEO and co-founder of INBRAIN Neuroelectronics, said, “this funding allows us to advance our graphene neurotechnology with artificial intelligence for therapeutic applications of neuronal origin, which has already shown great results against current commercial neuromodulation technology such as deep brain stimulation. We are excited to be able to count on the support of a group of top-level investors who support us in bringing this technology to patients who need more precise, personalized and safer treatments.”
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