Preparation for the first clinical trial
Phosphoenix is a medtech company developing a brain implant that creates an artificial form of vision for people with severe blindness. This €1.3 million funding round supports Phosphoenix's accelerated preparations for the first-in-human (FIH) study in 2027 and the further development of their neurostimulation system. At the same time, the company is working on preparing a Series A funding round of approximately €20 million to finance the clinical development programme.
A potential breakthrough for people with severe blindness
Around 40 million people worldwide live with severe blindness. At present, there is still no effective treatment option to restore functional sight for patients whose retina or optic nerve has been irreparably damaged. Phosphoenix is developing a brain implant (neuroprosthetic technology) that uses AI to restore functional sight in people who have gradually gone blind later in life.
How the technology of Phosphoenix works
Normally, visual information goes from the eye to the retina and then via the visual pathway to the brain. With Phosphoenix technology, the eye is bypassed and the brain is activated directly. At the heart of the Phosphoenix neuroprosthetic system is the Fountain Probe™, an implant developed by the company that sends electrical signals via more than 1,000 microelectrodes to a visual brain area, the lateral geniculate nucleus (LGN). This produces phosphenes: luminous phenomena or visual perceptions that a person can perceive. In this way, an artificial form of sight is generated.
That is why we are investing in Phosphoenix
Investment manager Sara Schaafsma: “Phosphoenix is developing a potentially life-changing technology for people with severe blindness. In the future, the technology could potentially offer them greater self-reliance and help them to actively participate in society with less support. We are impressed by the combination of strong science, clear clinical relevance and the progress the team is making towards clinical validation. With its roots in Amsterdam, via the Netherlands Institute for Neuroscience, Phosphoenix is also an excellent example of how scientific innovation from our region can lead to societal impact. We are therefore delighted to support this company in preparing for its first human study.”
