Synchron, a developer of brain-computer interface (BCI) technology, today announced the acquisition of an equity stake in Acquandas.
Acquandas, a German-based company, specializes in high-precision components for healthcare and other industries.
The company bases its metallic components on state-of-the-art microsystem technology processes. It fabricates thin film components for applications in medical devices, including micro-patterned nitinol thin films. They feature high structure resolution, high geometrical complexity, strong biocompatibility and improved mechanical properties.
“As we pioneer functional endovascular neurotechnology, this investment strengthens our technology innovation and supply chain for our unique product offerings, beginning with brain-computer interfaces,” said Tom Oxley, Synchron founder and CEO.
As part of the transaction, Oxley joins the Acquandas governance council. Riki Banerjee, Synchron’s new chief technology officer, joins as an observer.
“After many years of development in fabrication technology, I am thrilled to welcome Synchron on board as an investor. This major investment will not only strengthen our existing partnership but will also play a pivotal role in expanding our facilities and capabilities,” said Rodrigo Lima de Miranda, CEO and founder of Acquandas It serves as a testament to the readiness of our fabrication technology and our company for the market.”
More about what Synchron does
New York-based Synchron develops a BCI system delivered through an endovascular approach. The company says its BCI is the only one tapping into blood vessels to capture signals from the brain. Once implanted, it detects and wirelessly transmits motor intent out of the brain.
The system could allow paralyzed patients to compose text messages and operate smart devices with brain signals picked up by an implantable brain electrode stent called Stentrode.
Synchron believes its endovascular delivery method could make brain-computer interface technology simpler and safer. It could also offer more accessibility than the alternative option of invasive open-brain surgery.
The company also has the backing of some big names. In December 2022, it raised an oversubscribed $75 million Series C financing round. Gates Frontier (Bill Gates’ investment fund) and Bezos Expeditions (Jeff Bezos’ investment fund) participated in the round.
Synchron completed enrollment for its COMMAND clinical trial in September. It also won the first FDA investigational device exemption for assessment of a permanently implanted BCI. The company hopes to beat Neuralink to FDA approval and commercialization.