Phantom Neuro Secures $19M Funding for Phantom Limb Technology

The Convergence of Science Fiction and Reality: Phantom Neuro's Advancement

The long-held science fiction concept of individuals gaining enhanced abilities through computer interfaces and bionic implants is rapidly transitioning into tangible reality. A startup aiming to shape this evolution is announcing a significant funding round.

Phantom Neuro Secures $19 Million in Funding

Phantom Neuro, a company pioneering a wristband-style device designed for implantation beneath the skin, has successfully raised $19 million. This funding will be instrumental in propelling the company’s development to its subsequent phase.

Regulatory Milestones and FDA Designations

The startup has already achieved several crucial milestones typical for a medical technology firm. It has been granted two designations by the FDA, including Breakthrough Device status and acceptance into the TAP program.

The TAP designation, a selective honor, is awarded through the agency’s medical device accelerator program. This program is specifically designed to expedite Phantom’s journey towards commercial availability.

Leveraging the Phantom Limb Phenomenon

The company’s technology is fundamentally rooted in the phenomenon of the phantom limb. Amputees frequently experience sensations as if their missing limb remains present, due to the continued activity of nerve endings.

High Accuracy in Prosthetic Control

Phantom’s “Phantom X” software is capable of interpreting these nerve impulses and translating them into precise movements of connected prosthetic limbs.

Recent non-invasive “ASCENT” study data indicates a 94% accuracy rate across 11 distinct hand and wrist movements. The company reports even greater accuracy when the device is implanted.

Furthermore, Phantom asserts that users can regain up to 85% of functionality with only 10 minutes of calibration.

Strategic Investment and Key Backers

Ottobock, a leading German manufacturer of prosthetics and medical devices, is leading this funding round as a strategic investor.

Existing investors, including Breakout Ventures, Draper Associates, LionBird Ventures, Time BioVentures, and Risk and Return (Rsquared), are also participating.

New investors joining the round include Actual VC, METIS Innovative, E1 Ventures, Jumpspace, MainSheet Ventures, and Brown Advisory.

Notable investors also include Johns Hopkins and Intel.

Total Funding and Valuation

To date, Phantom Neuro has raised a total of $28 million. The company is currently not disclosing its valuation.

This investment signifies growing confidence in the potential of neural interfaces to revolutionize prosthetic technology and improve the lives of amputees.

Addressing Limb Challenges: The Story of Phantom Neuro

Phantom, a company originating in Austin, Texas, was founded by Dr. Connor Glass, a visionary thinker whose passion for innovation is evident in his work and future aspirations.

Dr. Glass recounts a strong sense of purpose from his youth in Oklahoma, initially intending to serve in the military to achieve a significant, widespread impact.

During his time in the ROTC as a university student, he encountered a personal obstacle: recurring stress fractures. This realization ultimately altered his military ambitions.

Reflecting on a childhood experience observing a brain surgery – facilitated by a family connection to a neurosurgeon – Dr. Glass experienced a pivotal moment of insight, prompting a change in direction.

He transitioned from political science to pre-med, determined to become a neurosurgeon and address complex limb-related issues beyond simple fractures.

After completing medical school in Oklahoma, inspired by science fiction, online resources, and scientific studies, Dr. Glass joined Johns Hopkins to conduct advanced research on brain implants for controlling movement.

It was there he had another key realization: the existing field of brain implants was still in its early stages, lacking precision and being excessively invasive.

He described the typical research environment as chaotic, with numerous researchers managing extensive cabling connecting implants to external devices. This led him to conclude that the technology wasn't yet ready for widespread application.

Maintaining his focus on broad impact and scalability, Dr. Glass shifted his attention to the body’s broader neural network, specifically nerve endings and the phenomenon of phantom limbs.

This exploration led to the founding of Phantom Neuro, with the goal of interpreting nerve signals and translating them into physical actions.

The concept of implanting a device to enhance prosthetic control isn’t entirely new. Existing medical procedures already involve implants for spinal cord therapies, contraception, breast augmentation, heart monitoring, and brain-computer interfaces.

Phantom Neuro views its technology as a natural progression within this existing framework, hoping the market will share this perspective.

The company’s initial focus will be on prosthetic arms, with plans to expand support to legs in the future. Beyond assisting amputees, the technology could potentially control robots remotely and provide data for training robots to move more naturally.

However, these broader applications remain long-term goals.

Phantom Neuro is concentrating on developing the nerve-prosthetic interface, recognizing the need for parallel research and development in the design of the prosthetic devices themselves.

Strategic partnerships, such as the collaboration with Ottobock, a leading prosthetic developer, are crucial for integrating Phantom’s technology into practical applications.

“Phantom is demonstrating promising advancements in the neural connection between prosthetics and the human body,” stated Dr. Arne Kreitz, CFO of Ottobock. “Our investment reflects our belief in their innovative, minimally invasive approach.”