Syntropic Awarded EUR 1.1M FFG Grant
The Medtech company uses flickering light for non-invasive, non-pharmaceutical treatment of disorders like depression
- Neuropsychiatric disorders like depression pose a severe burden on society, with 70% of patients taking antidepressants failing to achieve remission.
- Syntropic’s device promotes neuroplasticity by activating microglial cells with light stimulation, offering a non-invasive, non-pharmaceutical treatment option for patients who do not respond to traditional therapies like antidepressants and/or struggle with the side‑effects of existing therapies.
- With the FFG Grant and an additional 7-figure investment from xista science ventures and aws, the company aims to demonstrate the safety of the technology and to improve its understanding of how the therapy modulates the activity of the brain.
Klosterneuburg, Austria, 22th July 2024, Syntropic Medical, a pre-clinical stage MedTech company, has secured a €1.1M grant from the Österreichische Forschungsförderungsgesellschaft (Austrian Research Promotion Agency, FFG). This funding will fuel Syntropic’s mission of revolutionizing treatment of mental health disorders through its pioneering light stimulation device, providing a non-invasive and non-pharmaceutical treatment option for conditions like major depression.
The company, with an additional 7-figure investment from xista science ventures and aws (the promotional bank of the Austrian federal government) will demonstrate treatment safety and further mechanistic understanding of the biological processes involved in its novel therapeutic approach. Additionally it will allow Syntropic to test and validate its prototype devices.
Syntropic’s Light-based Approach to Treating Neuropsychiatric Disorders
In Europe alone, around 90 million people suffer from depression, which places a heavy burden on both individuals and society. The current standard treatment is oral antidepressants, but a significant proportion of patients fail to benefit from such treatments, which are often associated with severe side effects.
“Approximately 70% of patients taking pharmaceutical antidepressants do not achieve remission and up to 25% stop taking them due to severe side effects. It is therefore crucial that we begin to develop entirely new ways to treat these disorders.”, explains CEO Mark Caffrey.
The additional grant will be allocated to develop Syntropic’s technology, a goggle-like device emitting high-frequency flickering light, based on a discovery made by Dr. Alessandro Venturino and Prof. Sandra Siegert at the Institute of Science and Technology Austria (ISTA): Light stimulation can be used to instruct microglial cells to promote neuroplasticity, a state that allows for the formation of new neural connections and the restructuring of the brain.
Syntropic's non-invasive treatment option has the potential to treat major depressive disorder and other neuropsychiatric disorders, providing a promising, non-invasive and side-effect free alternative to conventional drug treatments. With a focus on accessibility, affordability and patient‑usability, the solution offers significant benefits to both patients and healthcare systems.
CEO Mark Caffrey: “This is why the discoveries of Dr. Venturino and Prof. Siegert are so exciting, as they open up the potential for a completely new treatment modality that is free of side effects and simple for patients to use.”
About Syntropic
Syntropic is an Austria-based pre‑clinical medical device company spun out of the Institute of Science and Technology Austria (ISTA) by Mark Caffrey, Jack O’Keeffe, Dr. Alessandro Venturino, and Prof. Sandra Siegert. The company is developing new technologies that enhance the brain’s neuroplasticity, allowing for the treatment of psychiatric disorders and the improvement of cognition. Syntropic’s mission is to advance mental health care through the development of innovative technologies that target underlying causes of neuropsychiatric disorders such as depression.
www.syntropicmedical.com
About FFG
The Österreichische Forschungsförderungsgesellschaft (FFG) is Austria’s national funding agency for industrial research and development. FFG funding and services enable high-risk innovative projects with various partners between science and business. Their funding programs are financed by the Republic of Austria, specifically the Federal Ministry for Climate Action, Environment, Energy, Mobility, Innovation, and Technology (BMK), and the Federal Ministry of Labour and Economic Affairs (BMAW). www.ffg.at
About xista science ventures
xista science ventures is an Austrian venture fund investing in early-stage life science and deep tech startups across Europe. Combining the scientific and investor perspectives, xista science ventures is an active partner to its portfolio companies, providing support for founders in realizing deep tech ideas and scaling enterprises. The fund's diverse portfolio spans fields such as biotechnology, medtech, materials science, and software. xista science ventures is embedded in the innovation system around the Institute of Science and Technology Austria (ISTA). www.xista.vc
Further exciting news from our ecosystem
Syntropic Awarded EUR 1.1M FFG Grant
The Medtech company uses flickering light for non-invasive, non-pharmaceutical treatment of disorders like depression
- Neuropsychiatric disorders like depression pose a severe burden on society, with 70% of patients taking antidepressants failing to achieve remission.
- Syntropic’s device promotes neuroplasticity by activating microglial cells with light stimulation, offering a non-invasive, non-pharmaceutical treatment option for patients who do not respond to traditional therapies like antidepressants and/or struggle with the side‑effects of existing therapies.
- With the FFG Grant and an additional 7-figure investment from xista science ventures and aws, the company aims to demonstrate the safety of the technology and to improve its understanding of how the therapy modulates the activity of the brain.
Klosterneuburg, Austria, 22th July 2024, Syntropic Medical, a pre-clinical stage MedTech company, has secured a €1.1M grant from the Österreichische Forschungsförderungsgesellschaft (Austrian Research Promotion Agency, FFG). This funding will fuel Syntropic’s mission of revolutionizing treatment of mental health disorders through its pioneering light stimulation device, providing a non-invasive and non-pharmaceutical treatment option for conditions like major depression.
The company, with an additional 7-figure investment from xista science ventures and aws (the promotional bank of the Austrian federal government) will demonstrate treatment safety and further mechanistic understanding of the biological processes involved in its novel therapeutic approach. Additionally it will allow Syntropic to test and validate its prototype devices.
Syntropic’s Light-based Approach to Treating Neuropsychiatric Disorders
In Europe alone, around 90 million people suffer from depression, which places a heavy burden on both individuals and society. The current standard treatment is oral antidepressants, but a significant proportion of patients fail to benefit from such treatments, which are often associated with severe side effects.
“Approximately 70% of patients taking pharmaceutical antidepressants do not achieve remission and up to 25% stop taking them due to severe side effects. It is therefore crucial that we begin to develop entirely new ways to treat these disorders.”, explains CEO Mark Caffrey.
The additional grant will be allocated to develop Syntropic’s technology, a goggle-like device emitting high-frequency flickering light, based on a discovery made by Dr. Alessandro Venturino and Prof. Sandra Siegert at the Institute of Science and Technology Austria (ISTA): Light stimulation can be used to instruct microglial cells to promote neuroplasticity, a state that allows for the formation of new neural connections and the restructuring of the brain.
Syntropic's non-invasive treatment option has the potential to treat major depressive disorder and other neuropsychiatric disorders, providing a promising, non-invasive and side-effect free alternative to conventional drug treatments. With a focus on accessibility, affordability and patient‑usability, the solution offers significant benefits to both patients and healthcare systems.
CEO Mark Caffrey: “This is why the discoveries of Dr. Venturino and Prof. Siegert are so exciting, as they open up the potential for a completely new treatment modality that is free of side effects and simple for patients to use.”
About Syntropic
Syntropic is an Austria-based pre‑clinical medical device company spun out of the Institute of Science and Technology Austria (ISTA) by Mark Caffrey, Jack O’Keeffe, Dr. Alessandro Venturino, and Prof. Sandra Siegert. The company is developing new technologies that enhance the brain’s neuroplasticity, allowing for the treatment of psychiatric disorders and the improvement of cognition. Syntropic’s mission is to advance mental health care through the development of innovative technologies that target underlying causes of neuropsychiatric disorders such as depression.
www.syntropicmedical.com
About FFG
The Österreichische Forschungsförderungsgesellschaft (FFG) is Austria’s national funding agency for industrial research and development. FFG funding and services enable high-risk innovative projects with various partners between science and business. Their funding programs are financed by the Republic of Austria, specifically the Federal Ministry for Climate Action, Environment, Energy, Mobility, Innovation, and Technology (BMK), and the Federal Ministry of Labour and Economic Affairs (BMAW). www.ffg.at
About xista science ventures
xista science ventures is an Austrian venture fund investing in early-stage life science and deep tech startups across Europe. Combining the scientific and investor perspectives, xista science ventures is an active partner to its portfolio companies, providing support for founders in realizing deep tech ideas and scaling enterprises. The fund's diverse portfolio spans fields such as biotechnology, medtech, materials science, and software. xista science ventures is embedded in the innovation system around the Institute of Science and Technology Austria (ISTA). www.xista.vc