We are delighted to announce our investment in MintNeuro, an Imperial College London spinout and innovative startup at the dynamic intersection of neurotechnology and semiconductors.
London, UK, November 12 2024 – MintNeuro, a pioneer of scalable, low-power semiconductor technology for minimally-invasive neural implant applications, today announces that it has raised £1 million in a funding round led by Empirical Ventures. Additional investment came from Parkwalk Advisors (through the Imperial College Enterprise Fund), Imperial College London, Plug & Play, Excellis Holding, and several prominent angel investors.
This significant capital raise, which boosts funding already secured from Innovate UK and the National Institute of Health and Care Research (NIHR) for key research programmes, will enable MintNeuro to accelerate delivery of its silicon roadmap and drive clinical availability of a new generation of accessible, miniaturised implantable devices to effectively treat some of the most challenging neurological disorders – including epilepsy, Parkinson’s disease and dementia.
MintNeuro’s innovative semiconductor solutions have already gained considerable traction through strategic partnerships with leading institutions and medical device companies. The company is currently collaborating on the DREAM project with Imperial College London and King’s College London and Hospital, targeting development of a breakthrough device for epilepsy monitoring, with a first-in-human study planned for next year. MintNeuro is also partnering with Amber Therapeutics to develop a chipset for neuromodulation therapy, initially to address mixed urinary incontinence, with future potential applications in the treatment of Parkinson’s, dementia and depression.
“MintNeuro is the only company addressing the fundamental limitations of neural implants with a semiconductor-based approach,” said Johnathan Matlock, General Partner at Empirical Ventures. “We’re proud to support a team that is transforming neurological care and making a real difference for patients worldwide.”
The global neural implant market is experiencing rapid growth, with rising interest from major healthcare and technology players. A recent Morgan Stanley report estimates that, in the US alone, the Total Addressable Market (TAM) for brain-computer interface (BCI) technologies could span almost 10 million patient candidates – seeking optimised treatment options for health conditions ranging from multiple sclerosis to strokes – and total around $400 billion in potential revenue from initial implant procedures.1
Martin Glen, Investment Director at Parkwalk Advisors, added: “MintNeuro’s innovative technology has the potential to change the lives of millions of patients suffering from a diverse range of neurological conditions. Its accessible, adaptable solution represents a major advancement in treatment options, and we’re extremely excited to be supporting the team in its journey to revolutionise neurological care.”
Neurological disorders impact over a billion people globally and pose a significant social and economic burden. Current treatments, especially pharmaceuticals, are often ineffective or fail to provide long-term solutions. With drug development becoming increasingly costly and less productive, many patients are left without effective care options. Neural implants offer a promising alternative, yet traditional technologies remain bulky, power-intensive, and reliant on invasive surgeries that limit accessibility and increase patient risk.
“Millions of patients with neurological disorders currently face limited, often inadequate, treatment options,” said Dorian Haci, CEO and co-founder of MintNeuro. “Our goal at MintNeuro is to bridge that gap with a new generation of neural technology that combines safety, accessibility, and efficacy, providing better solutions to patients and healthcare providers alike.”
He continued: “This new investment will drive faster progress on our neural chip roadmap and allow us to expand our world-class team of semiconductor design, clinical neuroscience, and medical device technology experts that are making these innovative implants a reality – delivering game-changing neural interventions into the hands of clinicians for the benefit of patient populations everywhere.”
MintNeuro differentiates itself by focusing on advanced semiconductor technology specifically engineered for neural implants. Unlike conventional neural devices, MintNeuro’s chips are compact and low-power, allowing for modular and adaptable designs that can be tailored to meet the unique needs of various neurological conditions. Each chip—smaller than a grain of rice—delivers essential functions such as sensing, stimulation, and processing, transforming both the design and accessibility of neural implants.
“Our semiconductor-based approach is fundamentally reshaping what neural implants can achieve,” said Timothy Constandinou, CTO of MintNeuro. “By offering a customisable, compact solution that integrates seamlessly into medical devices, we’re empowering a new era of neural interfaces that are not only more powerful but also less invasive. This marks a transformative shift in neurological care.”
The neural implant industry is often challenged by high costs, regulatory complexities, and long development timelines, with new products typically requiring hundreds of millions of pounds and often at least a decade to reach the market. MintNeuro’s semiconductor-based approach addresses these limitations by making neural implants smaller, more efficient, and scalable. By leveraging the economies of scale associated with semiconductor manufacturing, MintNeuro’s technology enables efficient production and reduces costs, benefiting both device developers and patients.
1. Morgan Stanley research: Brain Computer Interface Primer: The Next Big MedTech Opportunity, October 9th 2024
To find out more about MintNeuro, visit their website or our portfolio page here.
