S1, E4: Synchron and breakthrough brain implants with CEO Dr Tom Oxley, CCO Kurt Haggstrom and experts Dr Elad Levy (UB), Dr David Putrino (Mount Sinai)
In this episode of Raising Biotech, Surani delves into Synchron and its mission to develop a potential first-in-class implantable brain computer interface (BCI) that allows people with motor impairment to communicate their thoughts through a device. Founded in 2012, Synchron has raised $145 million since inception, which has taken the implant into clinical trials and the company is gearing up for its final clinical trial.
Surani speaks to Dr Tom Oxley, about his origins as a neurologist in Australia and his inspiration for Synchron’s BCI. He talks about his struggles to finance the company in Australia, which led Synchron to the US. Dr Elad Levy, Professor and Chair, Department of Neurosurgery, University at Buffalo gives his view of the technology’s potential, particularly its favorable risk profile and straightforward implant procedure versus more invasive competitor BCIs. Dr David Putrino, Director of Rehabilitation Innovation, Mount Sinai Health System speaks about the BCI’s utility, its potential to improve patient quality of and reduce overall healthcare costs. Kurt Haggstrom, CCO talks about navigating Synchron through reimbursement and commercial considerations and building Synchron into a bigger brand. Tom outlines next-step clinical trial and financing plans, thoughts on IPO vs a sale and ultimate visions for the company.
Timestamps:
01:46 – The crux of the Synchron’s BCI
03:00 – Back story of Tom and the “light bulb” for Synchron
05:52 – Learning the hard way: Australian investors vs US investors
07:23 – Synchron vs BCI competitors (including Elon Musks’s Neuralink)
11:10 – Published clinical trial data so far, current risk/benefit profile
12:23 – Dr Levy (UB) gives his view on the potential impact of Synchron’s BCI
14:57 – Dr Putrino (Mount Sinai) talks about Synchron’s impressive progress
16:43 – Dr Levy and Dr Putrino give thoughts on clinical data, safety and efficacy
19:20 – Kurt and Tom talk about designing the pivotal trial with reimbursement in mind
23:24 – Expert insights on potentially acceptable pricing of a BCI
25:36 – Market reach with tech boom and “less complex” implant procedure
27:58 – Future financing plans, IPO possibilities, and building Synchron into a bigger brand
30:58 – Tom’s thoughts on acquisition and comments on Elon Musk’s BCI vision
32:15 – Future vision for Synchron and BCI capabilities
For any comments, questions, feedback or suggestions you can connect directly with Surani Fernando on LinkedIn or email: [email protected]
Music composed by: Yrii Semchyshyn (Coma Media)
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