Grey Matter Neurosciences secures $14M for Alzheimer's focused ultrasound headset
Summary
Grey Matter Neurosciences has secured $14 million in seed financing to develop an ultrasound headset for individuals with Alzheimer's disease. The Toronto-based company licensed advanced focused ultrasound technology from Canada's Sunnybrook Research Institute. The financing was led by the Wittington Innovation Fund with participation from Toronto Innovation Acceleration Partners and the Ontario Brain Institute.
Why it matters
Grey Matter's focused ultrasound technology can noninvasively stimulate precise locations anywhere in the brain without the need for external image guidance, making it more accessible for non-hospital settings. The funding will support a clinical trial assessing the device's ability to sustainably improve cognitive performance and memory in Alzheimer's patients, addressing a massive unmet need.
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