Welcome to the tenth edition of Market Notes, the newsletter tracking the most important moves in the neurotechnology industry. Coincidentally, the tenth edition follows the busiest window of neurotech activity yet. Funding, clinical results, CE marks, FDA clearances, and new partnerships, the last two weeks saw a bit of everything.Last edition was dominated by two public brain-computer interface demos. This week, Neuralink outdid its competitors, posting a demonstration of its speech restoration program that has put neurotechnology further on the map. The implant captured study participant Terry's neural signals to tell his wife he loves her. In turn, those words captured the minds and imagination of millions across the globe.Progress is not measured in YouTube videos, but these kinds of demonstrations allow us to pause for a second and appreciate just how much value neurotech can add to this world. Thanks for tuning in, and enjoy the extra-long edition of Market Notes.
Neurosoft Bioelectronics partnered with Mila, the Montréal AI institute, to accelerate development of a cortical foundation model. Neurosoft will join Mila's research network, pairing its soft, minimally invasive cortical recording platform with the AI expertise needed to train models on scarce neural data.
Subsense announced an expansion of its AI-driven NanoBCI strategy. The Palo Alto company is using AI and physics-based modeling to identify nanoparticle architectures before synthesis, and recently appointed Ray Kurzweil as product and vision advisor.
Phosphoenix raised €1.3M to prepare for the first-in-human study of its visual neuroprosthesis. Its Fountain Probe carries more than 1,000 microelectrodes and directly stimulates the brain's visual pathway, bypassing damage to the eye or optic nerve.
Neuralink released a video showing a paralyzed clinical trial participant speaking through its brain-computer interface, the third participant in its voice study. The N1 implant decodes activity from the motor cortex and converts intended speech into words. The demonstration is the first of Neuralink's work in restoring communication. The video currently sits at nearly nine million YouTube views.
Precision Neuroscience closed an oversubscribed $250M Series D at a valuation just above $1 billion, co-led by Pershing Square and the Ackman Oxman Institute. The round brings total funding to $430M and pushes Precision past a $1 billion valuation, placing it among the small group of BCI companies to reach unicorn status. Its Layer 7 interface has now been used in more than 100 patient procedures across 18 institutions. The funding will support further FDA review, clinical expansion, and commercialization.
SetPoint Medical's system reached patients in Southern New Jersey, where the Global Neurosciences Institute performed its first procedures for rheumatoid arthritis. SetPoint's implant, the first FDA-approved neuroimmune modulation therapy, stimulates the vagus nerve to activate anti-inflammatory pathways.
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Wave Neuroscience partnered with NeuroCare to bring its FDA-cleared MeRT therapy for PTSD onto the NeuroCare Apollo TMS platform. MeRT uses EEG-derived brain data to personalize stimulation within standard TMS frameworks.
Theranica published a study showing its AI feature can predict a patient's next-day migraine risk with 91% precision. Drawing on 53,000 real-world Nerivio users, the study found a patient's own 30-day headache pattern was the strongest predictor of an attack.
StimCardio reported positive results from its NeuroPulse pilot study in Heart Rhythm, showing that non-invasive nerve stimulation reduced atrial fibrillation recurrence after ablation. In the randomized, double-blind, sham-controlled trial, 90% of patients receiving median nerve stimulation were free from atrial arrhythmias at six months, compared with 80.8% on sham. Its wrist-worn Rhyvive device stimulates the median nerve to modulate the autonomic nervous system.
Clarity published early feasibility results for its VR-based sensory stimulation platform in 11 people with mild cognitive impairment or mild Alzheimer's disease. The system embeds 40 Hz audiovisual stimulation, studied for its ability to entrain gamma brain rhythms, within immersive VR environments and cognitive tasks. In a single session, active stimulation produced significantly stronger neural responses than sham, alongside an exploratory improvement in memory.
ReEmerge exited stealth with an oversubscribed $37M Series A to develop Cognitive Network Restoration Therapy, a deep brain stimulation approach for chronic cognitive impairment. The therapy targets the central lateral thalamus to reactivate underused neural circuits involved in attention, arousal, and executive function. ReEmerge will initially target traumatic brain injury, with a 40-patient multicenter trial planned.
Omniscient received its third FDA 510(k) clearance for the Quicktome Deep Brain workflow, extending its AI connectomic platform into deep brain stimulation. The software uses patient imaging to localize implanted leads, segment deep brain structures, and map the white matter tracts connecting them to wider brain networks. DBS targeting has traditionally relied heavily on general anatomical atlases, while Quicktome adds patient-specific connectivity data to planning.
Naox Technologies received ethics-board approval to begin MONIEAR, a study of long-term in-ear EEG monitoring in focal epilepsy. It will compare Naox's in-ear EEG with scalp EEG in clinic before following patients at home for several months.
Cebreo Medical received CE Mark certification for NeuroBuds, an in-ear EEG wearable for extended at-home brain monitoring. Designed to resemble a hearing aid, the device can record neural activity unassisted for multiple days and nights, potentially extending to around three months. Cebreo will now expand across European clinical and research sites while pursuing a US pathway.
The Biological Computing Co. partnered with AWS to bring its neuron-derived AI video model to market in its first commercial deployment. The optimized text-to-video model delivers 80% lower inference costs and 5x faster generation through a lightweight software layer derived from measurements of living neurons.
Panda Surgical was awarded £377,967 by Innovate UK to develop an AI "co-pilot" for robotic neurosurgery in an 18-month collaboration with UCLH. The tool helps neurosurgeons maintain orientation during procedures, reducing the mental workload.
CraniUS received FDA 510(k) clearance for the CraniUS Plate, a patient-specific cranial implant and its first commercial product. NeuroPASS 1 establishes the manufacturing foundation for the broader NeuroPASS platform, designed to improve brain access, diagnostics, and drug delivery over time.
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