Science Corporation, a neural engineering company developing brain-computer interface technologies, announced it has closed a $230 million Series C financing round to accelerate the commercialization of its PRIMA BCI retinal implant, a device designed to restore vision for patients with severe retinal diseases.
The funding round was oversubscribed and included participation from Lightspeed Venture Partners, Khosla Ventures, Y Combinator, IQT, Quiet Capital, and other investors. With this latest financing, the company has raised approximately $490 million in total capital since its founding in 2021.
Science Corporation plans to use the new capital to bring its PRIMA retinal implant to market, expand research and manufacturing infrastructure, and advance other neural interface technologies in development. The company also intends to continue work on its Biohybrid neural interface platform and its Vessel perfusion technology.
The PRIMA implant is designed as a brain-computer interface that replaces damaged photoreceptors in the retina with an electronic device that transmits visual information to the brain. In clinical trials, the technology restored form vision in patients blinded by advanced dry age-related macular degeneration. Results from these studies were published in The New England Journal of Medicine.
Science expects to launch PRIMA commercially in Europe later this year, pending regulatory clearance, potentially making it the first brain-computer interface company to bring a vision restoration product to market.
The company is also expanding its clinical trials to evaluate the implant for additional retinal diseases, including Stargardt disease and retinitis pigmentosa, two inherited conditions that cause progressive vision loss and often affect younger patients. The new trial will be led by Dr. Matthew Simunovic at Sydney Eye Hospital in Australia.
Earlier European trials evaluating the PRIMA system involved 38 patients with advanced dry age-related macular degeneration. According to the peer-reviewed findings, 80% of patients demonstrated meaningful improvements in visual acuity and were able to read letters, numbers, and words after receiving the implant.
Following these results, Science has submitted an application for CE mark approval in the European Union and is also seeking regulatory clearance from the U.S. Food and Drug Administration.
Science Corporation, headquartered in Alameda, California, is building a vertically integrated neural engineering platform aimed at developing brain-computer interface technologies to treat severe medical conditions and expand the capabilities of human biology.
KEY QUOTES
“We are building a company which will offer patients hope beyond the limitations of traditional medicine. By engaging the brain directly as an information processing organ, we are able to achieve much greater effect sizes and drive unprecedented clinical impact. We are deeply committed to research and new technologies that can provide treatment options where none existed before – and which will fundamentally change and improve lives.”
Max Hodak, Cofounder And CEO, Science Corporation
“The strength and caliber of this syndicate reflects both the urgency of the problems we are addressing and the credibility of our execution so far. With this capital, we are focused on commercialization and delivering real-world clinical impact. Our imperative is to become the first BCI company to scale and achieve profitability.”
Darius Shahida, Chief Strategy Officer, Science Corporation
