Inbrain neuroelectronics
Scale Up
Scale Up
Organization Description
INBRAIN develops graphene semiconductors technology to power implantable precision BCI therapeutics at scale for personalized neuro and bioelectronics therapies. Founded in 2020 as a spin-off from Graphene Flagship after the Nobel Prize for Graphene (1B Euro EU program). Graphene brings unparalleled signal decoding resolution and micrometric modulation precision compared to metals (like platinum and iridium) to drive highly targeted neuro and bioelectronic applications. In bioelectronics we have a strategic collaboration with Merck in very large pharma style indications such as anti-inflammation. Our graphene BCI cortical module just got MHRA approval for first in human and we are recruiting the first patient. Additionally we got FDA breakthrough designation for the implantable platform in movement control in Parkinson’s disease. We also got FDA TAP acceptance. During the last 3 years we have been able to secure 21.1M from the European Commission in grants and equity awards (6M non-dilutive) and 15M in equity (we won all EIC pathfinder, transition and accelerator programs, 1-5% chance!). We have all the QMS in place with ISO 13485 both for development and manufacturing of our graphene semiconductors technology. We have 19 patent applications with 5 granted protecting our graphene technology and also the platform architecture plus data algorithms. Series B round is a 53M round, 46M committed with a Term sheet from a key EU lead investor.
Founder
Carolina Aguilar
CEO & Co-Founder
Introduction
Our end-to-end neural platform combines hardware and data analytics to decode & modulate neural networks, maximize time on therapy and effectively restore function or mobility for patients. We are a spin-off from Graphene Flagship’s partner the Nanoscience & Nanotechnology Institute of Catalonia (ICN2). With the new physics graphene delivers, we are decoding brain and nerve signals into breakthrough and sustainable medical solutions! Graphene enables 10X higher decoding accuracy and resolution and micrometric precision modulation. Solving the neural challenge doesn’t stop with the brain. Our holistic approach goes beyond the brain to address the entire neural system, unlocking the full potential of our therapies to improve patients’ lives. Together with Merck KGaA we are building INNERVIA Bioelectronics, a unique collaboration to create the next generation of highly selective bioelectronic therapies that modulate the vagus nerve with ultraselectivity unlocking the 25B opportunity of neuro and bioelectronics combined.
Background
INBRAIN Neuroelectronics S.L. is a medical device company dedicated to the development and commercialization of graphene-based neural interfaces and intelligent neuromodulation systems. Founded in 2020, the company is a spin-off from Graphene Flagship partners, Catalan Institute of Nanoscience and Nanotechnology (ICN2) & ICREA in Barcelona. INBRAIN is developing the least invasive and most intelligent neural interface on the market that will be able to read and modulate brain activity with very high resolution and high precision to obtain optimal results in personalized neurological therapies. INNERVIA Bioelectronics, is a subsidiary of INBRAIN Neuroelectronics, is dedicated to the development and commercialization of intelligent graphene systems designed to modulate vagus nerve signals, decoding them into medical solutions.
Achievements
During the last 4 years INBRAIN has achieved significant milestones as the ones below:
- First in human approval by MHRA in England.
- World’s first FDA breakthrough designation for Parkinson’s Disease.
- FDA TAP program acceptance.
- Merck strategic partnership since 2021.
- QMS 13485 certification as a designer and manufacturer of medical devices.
- Most innovative company of the Year 2022.
- Graphene Nobel Laureate Sir Kostya Novoselov joins INBRAIN vision board.
Leadership
Highlight
Carolina Aguilar has more than 15 years of expertise in healthcare (Medical Devices in Neuromodulation, Diabetes & others) in addition to consumer goods experience, combining competence between the scientific and FMCG worlds. Carolina led the most advanced neural interface program at that time in Deep Brain Stimulation (DBS). For >10 years in Medtronic DBS she managed complex businesses in this field and a P&L of more than $140M together with large local and global teams that generated high single to double digit growth % YOY. In recent years, Carolina was involved in Value Based Healthcare where she drove the expansion of the first VBHC provider model in Diabetes for Medtronic signing a major deal in Saudi Arabia and winning the European VBHC prize in 2017 amongst other milestones. (Diabeter, a Harvard Business School Case).
Inpact
on ecosystem
INBRAIN Neuroelectronics operates in the field of Bioelectronics building the next generation of neural interfaces with graphene, a Nobel prize winning material that allows high resolution and unparalleled targeting of the nervous system. We are a spin-off from Graphene Flagship’s partner the Nanoscience & Nanotechnology Institute of Catalonia (ICN2). With the new physics graphene delivered, we are able to develop the next generation of BCI therapeutics by enabling real time high density decoding and micrometric precision modulation of the neural system.
Lessons
Learned
- Collaborating on projects with a big thinking (EU Graphene Flagship 1B euro program) generates fertile soil to grow big industrial thinking and thus INBRAIN has been connecting the dots with all industrial players to create a strong ecosystem co-relating semiconductors, medtech, AI and digital health to flourish from EU to the world.
- Talent is everything and thus choosing an attractive hub to grow from is key to attracting core talent. INBRAIN employs 50 people from 17 different countries in vibrant Barcelona.
- Fundraising is a global act and thus is important to reach out and plan accordingly.
Investment
raised
NBRAIN raised 2 so far 23M euro (Seed & Series A) from Asabys Partners (Spain), Alta Lifesciences (Spain), CDTI (Spanish Government), Vsquared (Germany), Truventuro (Germany). Currently (Q2, 2024) is looking for a Series B round of 55M.
Conclusion
and future Outlook
INBRAIN Neuroelectronics is developing graphene semiconductors technology that powers implantable precision BCI technology at scale With the first in human approval of our first product, we are proving the safety of graphene as a neural interface material, showing as well the potential to disrupt and displace metal technology like platinum and iridium. INBRAIN is closing a 55M Series B round that will allow it to take the core technology to chronic for Parkinson’s disease as a first indication but many more to follow such as Epilepsy, stroke rehab (speech impairment) and others. Together with the strategic relationship with Merck in peripheral nerve applications, the company is set up.
