The biotech Inbrain Neuroelectronics, focused on neurological technologies based on graphene, has closed a 50 million dollar (46 million euro) round, led by the Belgian venture capital fund Imec.xpand, specialized in semiconductors and nanotechnology. With the operation, new investors such as EIC Fund, Fond-ICO Next Tech, CDTI-Innvierte and Avançsa, all public, have entered, and existing ones such as Asabys Partners, Aliath Bioventures and Vsquared have remained.
The resources will serve to advance the ongoing clinical trials of this Barcelona-based startup, specialized in designing small and intelligent systems, thinner than hair, only 10 micrometers, which are based on graphene electrodes, a very resistant and flexible material. The technology developed by Inbrain allows them to be implanted in the brain and decode its signals to produce a therapeutic response. This innovative solution can benefit patients with epilepsy and Parkinson's or those recovering from a stroke, with a mechanism that will allow them to gain precision and personalization, and reduce the use of drugs.
The company, a spin-off of the Catalan Institute of Nanoscience and Nanotechnology (ICN2) and the Catalan Institution for Research and Advanced Studies (Icrea), will also dedicate the Series B round to expanding the team and continuing with the development of its platform for the treatment of neurological diseases, based on artificial intelligence (AI). "We are forging the future of precision neurological therapeutic implantable technology," says Inbrain CEO and co-founder, Carolina Aguilar, "this funding allows us to advance our graphene neurotechnology with AI, which has already demonstrated great results against current commercial technology such as deep brain stimulation."
Recently, the company based in the Barcelona Science Park (PCB) has tested the application of its technology in humans for the first time, in a clinical trial at Salford Royal Hospital in Manchester. With a maximum of ten participants, the study will serve to evaluate the safety of the Inbrain device in patients with brain cancer.
Since its founding in 2019, with Professor José Garrido, Professor Kostas Kostarelos, and Dr. Anton Guimerà completing the team, the company has raised a total of 68 million dollars (63 million euros). In 2021, it closed a 14 million euro round, led by Asabys Partners and Alta Life Sciences, and with the participation of the German venture capital fund Vsquared Ventures. It also had the support of the ICF. A year earlier, it had received more than one million euros from a group of investors led by Asabys Partners and Alta Life Sciences, also including the ICF, Iese, and Banco Sabadell.