Precision Neuroscience announced this week that it raised $93 million of a planned $100 million funding round.  With this round, the startup is now valued at around $500 million.

If you’re unfamiliar, Precision Neuroscience is a brain-computer interface company, similar to Elon Musk’s Neuralink.  It was founded a few years ago by neurosurgeon Ben Rapoport, who actually co-founded Neuralink.

Precision Neuroscience’s device is called the Layer 7 Cortical Interface, referring to the six layers that comprise the cerebral cortex, and represents a compromise between invasive and noninvasive brain-computer interface technologies. It requires surgery and slicing into the skull, but not into the tissue of the brain. Instead, the device sits on top of the organ, a method the company says avoids damaging any of that brain’s tissue. 

Here’s more: https://www.bloomberg.com/news/articles/2024-11-06/neuralink-rival-precision-neuroscience-raises-93-million

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Scientists uncovered a new neuron type, BNC2, which acts quickly to counter hunger-promoting neurons, potentially leading to more effective appetite regulation. These BNC2 neurons, located in the brain’s arcuate nucleus, respond rapidly to hunger cues by inhibiting AGRP neurons responsible for driving appetite.

Researchers hope that by targeting BNC2 neurons, they can develop therapies to better regulate appetite and reduce disease risk. They’re also exploring how stimulating or inhibiting these neurons affects glucose and insulin levels, further underscoring the therapeutic potential of modulating their activity. 

Check it out: https://www.nature.com/articles/s41586-024-08108-2

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PharmAla announced that it has been contracted to supply MDMA for a new clinical trial at Yale University.  

Earlier this year, two Yale Department of Psychiatry scientists were awarded a federal research grant to study MDMA as a possible treatment for veterans with post-traumatic stress disorder (PTSD). Six months later, it’s sourcing its MDMA from PharmAla.

Worth noting: this news comes shortly after it was announced that the company landed deals to supply its MDMA for clinical trials at Mt. Sinai Health System, the University of Texas, San Antonio, and Harvard’s McLean Hospital, which is the largest neuroscientific and psychiatric private research hospital in the world. 

Here’s more: https://pharmala.ca/media/2024/11/pharmala-to-supply-laneo-mdma-for-clinical-trial-at-yale

Did you know that ibogaine, when co-administered with magnesium, could safely treat a variety of psychiatric symptoms that emerge following a traumatic brain injury? 

According to a study conducted by Stanford researchers, study participants who were administered ibogaine along with concurrent injections of magnesium (allowing for the reduction  of potential cardiac side effects), showed a “remarkable reduction in symptoms” of disability, PTSD, depression and anxiety.  As well, benefits were sustained at the 1-month follow-up, and disability measures “continued to improve and psychiatric symptom remission and response rates remained high” after 1 month. 

“Neuropsychological testing revealed areas of improvement after treatment particularly in processing speed and executive function, without any detrimental changes observed. With regard to safety, no serious or unexpected adverse events occurred and management of adverse effects was uncomplicated.” 

Prior to treatment with ibogaine and magnesium, study participants were found to have an average rating of 30 on a WHO disability scale, which translates into “mild to moderate” disability. All participants experienced “life altering functional disability from TBI during their time in combat.”  

You can access the study results here: https://www.nature.com/articles/s41591-023-02705-w

P.S. Next Tuesday, our own Simeon Schnapper will be speaking at the Light Dao event in New York City at 7:00 pm Eastern time.  

Light Dao is a global community of over 2,500 conscious investors and entrepreneurs with curated in-person and online gatherings and experiences, having hosted in 16 cities across North and South America, Middle East, Europe, Asia, and Australia. Its mission is to bring abundance for all by expanding the collective consciousness, enlightening society, and empowering values-aligned relationships. 

You can attend the event for free through this link: https://lu.ma/hezo6x8h