Coherence Neuro raises 45 million dollars
Coherence Neuro, a neurotechnology company based in San Francisco, has raised $45 million in Series A funding to develop implantable devices for monitoring and potentially treating cancer. The funding round was co-led by Founders Fund and the OpenAI Startup Fund.
New investors in the company include Lux Capital, 8VC, Timeless, Olive Capital, and Ahren, while returning backers include Blackbird, Possible Ventures, Topology Ventures, Artesian, XEIA Venture Partners, Xtal, and Divergent.
The funds will be used to advance Coherence Neuro’s first long-term human trial in glioblastoma, pursue FDA Breakthrough Device designation, and expand its preclinical pipeline into pancreatic cancer and other cancers, according to cofounders Ben Woodington and Elise Jenkins.
Coherence Neuro is developing brain-computer interface (BCI) technology for cancer care, with the goal of tracking electrical signals associated with tumors and using that information to guide electrical stimulation, potentially allowing treatment to adapt as a tumor changes.
The company’s planned SOMA system combines a wireless implant, an over-ear wearable that supplies power and memory, and an app for viewing information and tracking symptoms, with the aim of helping clinicians monitor patients between hospital visits.
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Coherence Neuro has begun validating electrical biomarkers in mouse models and training models to predict tumor growth from neural activity, although it remains to be seen whether these findings will translate to humans.
In June, the company announced the start of its first human study at the Royal Melbourne Hospital in Australia, led by neurosurgeon Dr. Andrew Morokoff, which evaluates the safety and performance of its CIPHER flexible cortical probe during brain tumor removal surgery.
Other neurotechnology companies are also attracting funding for various applications, including Precision Neuroscience, which raised $250 million in Series D funding in September, and Butterfly Network and Merge Labs, which announced a multiyear licensing agreement to develop ultrasound-based brain-computer interfaces.
Coherence Neuro’s devices remain investigational and are not approved by the FDA or Australia’s Therapeutic Goods Administration, but they are pushing ahead with their development plans, with the goal of advancing their technology to help patients with cancer.
Ben Woodington and Elise Jenkins stated that the funds will be used to support the development of their technology, and they are working towards advancing their devices to help patients with cancer.
