Sam Brusco, Associate Editor01.24.24
Motif Neurotech, a neurotechnology company developing minimally-invasive bioelectronics for mental health, reported Series A financing of $18.75 million.
The round was led by Arboretum Ventures, with participation from new investors KdT Ventures, Satori Neuro, Dolby Family Ventures, re.Mind Capital, individual investor Max Hodak and existing investors Divergent Capital, TMC Innovation, PsyMed Ventures, Empath Ventures and Capital Factory.
Motif said proceeds from the Series A round will be used to advance development of its DOT microstimulator, a tiny brain pacemaker (“pea-sized,” according to the company’s website) engineered to precisely stimulate the brain and restore healthy circuit activity to treat mental health disorders. The first indication Motif is chasing for DOT is treatment-resistant depression (TRD), a type of major depressive disorder (MDD) that resists anti-depressant medications.
Motif’s implant leverages wireless, magnetoelectric power transfer technology that was developed at Rice University. The company says DOT was designed to be implanted in a 20-minute procedure, never touching the brain.
The company was founded by Rice faculty Jacob Robinson and Kaiyuan Yang, as well as physicians Sunil Sheth and Sameer Sheth. Robinson will join Motif’s board of directors.
“Minimally-invasive bioelectronics are the future of mental health treatment,” said Robinson, who is also the company’s CEO. “30% of patients with depression don’t respond to two or more medications, and there is a significant need for additional treatment options that are effective and easily accessible. The DOT microstimulator is a wireless, battery-free device designed to be implanted in a 20-minute outpatient procedure with the capability for at-home therapy. This round of financing will allow us to bring this technology into a clinical study for patients with TRD.”
The round was led by Arboretum Ventures, with participation from new investors KdT Ventures, Satori Neuro, Dolby Family Ventures, re.Mind Capital, individual investor Max Hodak and existing investors Divergent Capital, TMC Innovation, PsyMed Ventures, Empath Ventures and Capital Factory.
Motif said proceeds from the Series A round will be used to advance development of its DOT microstimulator, a tiny brain pacemaker (“pea-sized,” according to the company’s website) engineered to precisely stimulate the brain and restore healthy circuit activity to treat mental health disorders. The first indication Motif is chasing for DOT is treatment-resistant depression (TRD), a type of major depressive disorder (MDD) that resists anti-depressant medications.
Motif’s implant leverages wireless, magnetoelectric power transfer technology that was developed at Rice University. The company says DOT was designed to be implanted in a 20-minute procedure, never touching the brain.
The company was founded by Rice faculty Jacob Robinson and Kaiyuan Yang, as well as physicians Sunil Sheth and Sameer Sheth. Robinson will join Motif’s board of directors.
“Minimally-invasive bioelectronics are the future of mental health treatment,” said Robinson, who is also the company’s CEO. “30% of patients with depression don’t respond to two or more medications, and there is a significant need for additional treatment options that are effective and easily accessible. The DOT microstimulator is a wireless, battery-free device designed to be implanted in a 20-minute outpatient procedure with the capability for at-home therapy. This round of financing will allow us to bring this technology into a clinical study for patients with TRD.”