Dive Brief:
- Science Corporation said Thursday it has raised another $230 million to support commercialization of its brain computer interface retinal implant designed to restore vision to patients with late-stage macular degeneration.
- With an upcoming launch for the device planned in Europe, Science said it will become the first BCI company to have a vision restoration device on the market.
- Science said demand for the Series C round exceeded its capital needs. The Alameda, California-based startup is also focused on expanding its research, manufacturing infrastructure and operations.
Dive Insight:
Science’s clinical trial in Europe for the Prima device showed the implant could work as artificial photoreceptors in the retina to restore functional central vision. The small implant is placed under the retina to replace the function of light-sensitive cells lost to disease. A special pair of glasses with an embedded camera and infrared projector sends light signals to the implant.
The study evaluated the system in people with advanced dry age-related macular degeneration. Of the 38 patients who received an implant, 32 were assessed at 12 months. The results, published in the New England Journal of Medicine, showed that the device led to a clinically meaningful improvement in visual acuity in 26 people. The patients were able to read letters, numbers and words, according to the company.
Science said it has submitted a CE mark application to the European Union and applied to the Food and Drug Administration for regulatory approval.
“Our imperative is to become the first BCI company to scale and achieve profitability,” Darius Shahida, chief strategy officer, said in a statement.
Science has raised about $490 million since it was founded in 2021. The company said it is expanding its clinical trial program to include other retinal diseases, such as Stargardt disease and retinitis pigmentosa.
Participants in the latest funding round included existing investors Khosla Ventures, Lightspeed Venture Partners, Y Combinator, IQT and Quiet Capital.
