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Motif Neurotech Raises $18.75M in Series A for Implantable Depression Treatment

Thursday, January 25, 2024

Motif Neurotech, a pioneering neurotechnology firm specializing in minimally-invasive bioelectronics for mental health, has recently closed an oversubscribed Series A funding round, securing an impressive $18.75 million. Leading this financing round is Arboretum Ventures, with notable contributions from new investors including KdT Ventures and Satori Neuro, as well as continued support from existing backers such as Divergent Capital, TMC Innovation, PsyMed Ventures, Empath Ventures, and Capital Factory.

The substantial capital infusion aims to propel the development of Motif's flagship product, the DOT microstimulator. This innovative device, resembling a miniature brain pacemaker, is engineered to deliver precise brain stimulation, thereby restoring healthy circuit activity. The primary focus of this advancement is directed towards addressing treatment-resistant depression (TRD), a challenging form of major depressive disorder (MDD) resistant to traditional antidepressant medications.

Motif Neurotech's DOT microstimulator stands out as a wireless, battery-free device designed to be implanted through a brief 20-minute outpatient procedure. Offering the potential for at-home therapy, it addresses a critical need, particularly for the 30% of depression patients who do not respond to multiple medications. This technology represents an effective and easily accessible treatment option for those grappling with TRD, contributing to advancements in mental health care.

Source: businesswire.com

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