Neurosoft Bioelectronics, a spin-off from the Swiss Federal Institute of Technology in Lausanne (EPFL) developing tools for unmet needs in epilepsy and tinnitus, was awarded nearly USD 3 million, from the SERI-Funded European Innovation Council Accelerator Grant and a share of the USD 165,000 through the European Research Council Proof-of-Concept Grant. Additionally, the firm secured a USD 100,000 convertible note from the Fongit Innovation Fund. We interviewed Neurosoft Bioelectronics CEO Nicolas Vachicouras to learn more.Neurosoft Bioelectronics develops next-generation soft implantable electrodes to interface with the brain for the treatment of severe neurological disorders. Its main product is a fully implantable closed-loop Brain-Computer Interface (BCI) to treat severe tinnitus, a condition that affects 7 million people in the US and Europe, of which 7% attempt suicide every year. It is also developing a family of subdural electrodes intended for monitoring during brain tumor and epilepsy resection surgery.
Proceeds will fund continued development of the company’s soft flexible electrodes to be marketed as SOFT ECoG™, a family of implantable devices which can seamlessly interface with the brain. The novel devices are up to 1000x softer and 2x thinner than clinical electrodes, with integrated electrode sites up to 100x smaller, making them suited for high-resolution recording and stimulation of the brain for up to thirty days. Their conformability and softness make them ideally suited for placement in the sulci of the brain – hard-to-reach areas of the brain where many disorders may best be treated. The deep folds of a sulcus are inaccessible for other electrodes while SOFT ECoG™ can be safely and precisely placed for stimulation and recording.
“Given that 70% of the surface of the brain is buried in sulci, it was critical to develop a technology that could safely and effectively work in those spaces,” said Neurosoft Bioelectronics’ CEO, Nicolas Vachicouras, Ph.D. “We’re eager to put these significant funds toward clinical testing and regulatory approval of SOFT ECoG™ in the upcoming months, which will simultaneously drive progress of our tinnitus device SOFT TINNIT™. Together, these products have the potential to bring relief to epilepsy, brain tumor, and tinnitus patients, and in the future will impact those living with other neurological disorders such as deafness, blindness, tetraplegia, and chronic pain.” Vachicouras presents an update about the company and technology at the Bioelectronic Medicine Forum in New York.
Most of the funds are designated for the further development of SOFT ECoG™ however, the innovations made will simultaneously advance the company’s second product, SOFT TINNIT™. SOFT TINNIT™ is a chronic implant to perform closed-loop neuromodulation of the cortex to provide relief for patients suffering from severe tinnitus. Severe tinnitus, which has no cure, affects more than 7 million people in the US and Europe.
Nicolas, you won Venture Kick in 2021. How did it help you lay the foundation for your growth and today’s achievement?
Venture Kick did not only provide valuable financial resources, but it also provided the necessary mentoring to force us to focus on our business strategy. This was instrumental for us to improve our start-up company from a simple “technical university spin-off” to a well-rounded company with a clear product and value proposition.
You also participated in Venture Leaders Life Sciences in 2020/21. How did it leverage your fundraising strategy?
It provided a unique perspective on the US market and helped us improve our pitch deck and business plan to tailor it to the expectations of US investors. It also enabled us to get in touch with US partners to help us with our business, regulatory, clinical, and commercial strategy.
When, and what, was your inspiration to found Neurosoft?
I decided to found Neurosoft, while I was working at the Laboratory of Prof. Lacour at EPFL more than 8 years ago when I discovered how outdated neural implants were. Electrodes intended to interface with the nervous system are still currently made of extremely rigid and stiff materials, while neural tissues are extremely soft and dynamic. I wanted to bridge that mechanical gap by developing soft implantable electrodes and bringing them to the patients.
What is your advice for the potential medtech entrepreneurs launching companies in Switzerland today?
Investors in Switzerland are very risk-averse, especially in such a regulated field and even more so if you are developing implantable (and potential active) medical devices. Active implantable medical devices are still a very small niche and the road ahead will be long and difficult. To set you up for success in this environment, It is important to gather early on pre-clinical (and if possible clinical) data which shows the superiority of your solution to the current state-of-the-art.
