Motif Neurotech, a developer of brain stimulation devices for depression, raised $18.75 million in Series A funding, CEO Jacob Robinson tells Axios exclusively.
Why it matters: The most widely-available depression treatment is selective serotonin re-uptake inhibitors (SSRIs), but as many as one-third of people don't respond to the drugs. For them, there's hope that electronic stimulation can help.
How it works: The Houston-based company is developing a device that would emit pulses of electrical stimulation to the brain in an effort to restore promote normal activity, similar to how transcranial magnetic stimulation (TMS) works.
In contrast to TMS, which requires trips to specialized centers to receive treatment, Motif's approach would involve a device implanted near the surface of the brain in a 20-minute outpatient surgical procedure.
Depending on the results of its first study, Robinson envisions Motif's device being worn in one of two scenarios: Either for 20 mins a day for about six weeks, or for eight hours a day for a week.
Robinson envisions the device being reimbursed by insurance.
Details: Arboretum Ventures led the round.
New investors KdT Ventures, Satori Neuro, Dolby Family Ventures, re.Mind Capital participated, alongside existing backers Divergent Capital, TMC Innovation, PsyMed Ventures, Empath Ventures and Capital Factory.
Funds will be used to bring Motif's leading technology, a miniature implantable brain stimulator called DOT, into a first clinical study for patients whose depression doesn't respond to antidepressants.
Satori Neuro's Amy Kruse and Arboretum Ventures' Tom Shehab are joining Motif's board of directors.
Robinson foresees Motif raising a Series B after it receives data back from its first clinical study.
Flashback: "I was an academic with an idea on a blackboard in a lab 10 years ago," says Robinson, who came up with the concept of Motif at Rice University.
What they're saying: "There's still a perception that an implant is not what we do for mental health. The same was true for pacemakers," says Robinson.
"When we normalize the idea of devices to help us with other conditions like mental health, something like this can become first and second line therapy."
The intrigue: Even minor surgery could function as a hurdle for potential Motif patients, and that's something investor and Arboretum managing partner Shehab doesn't "take lightly."
"There are so many patients across treatment-resistant depression (TRD) and other indications, we felt that a minor outpatient procedure, while significant, would not limit the uses of this," Shehab says.
Part of Shehab's rationale for that is Motif's potential convenience — "this can be managed by patients and providers and the patient can do the vast majority of the treatment at home," he adds.
Plus, relapse is common among patients with severe depression, and Shehab sees Motif's device as having the potential to help treat those episodes too.
1 fun thing: The name Motif is a nod to the company's goal of stimulating patterns — or motifs — across the brain.
"It's part of the idea of being a network interface," Robinson says.