Science has added a whole lot more cash to the bank, bringing in an impressive $230 million in its latest raise.
The cash injection will allow Science to “fully see through” its sales plans for its brain-computer interface (BCI) retinal implant, known as PRIMA, as well as continue work on earlier pipeline programs, according to a March 5 statement.
Science is preparing for the device’s commercialization, initially in Europe, targeting patients with late-stage age-related macular degeneration (AMD). The medtech has already submitted a CE mark application in the EU and an application to the FDA.
The company is also looking to expand PRIMA into other retinal diseases, including Stargardt disease and retinitis pigmentosa.
The PRIMA system, based on research by Stanford University professor of ophthalmology Daniel Palanker, Ph.D., pairs a tiny wireless chip about the size of a pinhead with special glasses equipped with a camera.
The glasses project near-infrared light to the implant, which acts as a miniature solar panel, according to the company.
The implant is placed in the retina and replaces photoreceptors lost because of the disease, stimulating the remaining cells to carry the visual signal to the brain. The system also includes a “zoom-in” feature allowing patients to magnify letters.
Science revealed data last fall from a study testing PRIMA in patients with geographic atrophy, an advanced form of AMD that leads to the loss of retinal cells and causes blurriness and blind spots in central vision. Most patients are over 60.
Of the 32 patients who received the implant as part of Science’s trial, 27 had enough improvement in their vision after a year to read letters, numbers and words, according to the study. Meanwhile, 26 experienced a significant improvement in visual acuity. On average, the patients posted a gain of more than five lines on a standard eye chart.
Nineteen patients, however, experienced side effects, including high pressure in the eye, retinal tears and bleeding, but the study’s authors said most of these resolved within two months.
The series C was bankrolled by Khosla Ventures, Lightspeed Venture Partners, Y Combinator, IQT and Quiet Capital, all preexisting investors in Science, among others, according to the company.
The company now seen a hefty $490 million roll in since its founding back in 2021.
“With this capital, we are focused on commercialization and delivering real-world clinical impact. Our imperative is to become the first BCI company to scale and achieve profitability,” said Darius Shahida, Science’s chief strategy officer.