Syntropic Medical secures early-stage funding from xista science ventures and aws
Vienna, Austria, 4 April 2024: Syntropic Medical, a MedTech 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, has raised a 7-figure amount from xista science ventures and aws (the promotional bank of the Austrian federal government) to further develop a pioneering non-invasive and non-pharmaceutical treatment for mental health disorders.
New Treatment Option for Major Depressive Disorder
Syntropic’s unique light based brain stimulation device is based on a light stimulation protocol, discovered by the Siegert Group at ISTA. Their brain stimulation promotes microglia-mediated neuroplasticity, thereby opening up new avenues for treatment of a range of neuropsychiatric disorders, such as Major Depressive Disorder (MDD). With this, Syntropic aims to provide a new treatment option for patients who have failed to achieve an adequate response from traditional pharmaceutical therapies.
“Approximately 70% of patients taking pharmaceutical antidepressants will fail to achieve remission, and up to 25% will stop taking them due to the severity of side effects. These numbers are unfortunately not good enough. Therefore, it is crucial that we begin to develop completely new methods of tackling these disorders. This is why the discoveries of Dr. Venturino and Prof. Siegert are so exciting, they open the potential for an entirely new modality of treatment that is side effect free and easily accessible for the patient.”, explains Mark Caffrey, Syntropic CEO.
“By developing a neuromodulation-based approach for mental health disorders Syntropic is addressing a market with a pressing need and significant potential. We are excited to partner with this ambitious team in commercializing the promising and innovative discoveries made at the Siegert Lab at ISTA”, adds Florian Resch, Managing Partner at xista science ventures.
About Syntropic
Syntropic is an Austria-based pre‑clinical stage medical device company 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 brain disorders. www.syntropicmedical.com
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).
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Syntropic Medical secures early-stage funding from xista science ventures and aws
Vienna, Austria, 4 April 2024: Syntropic Medical, a MedTech 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, has raised a 7-figure amount from xista science ventures and aws (the promotional bank of the Austrian federal government) to further develop a pioneering non-invasive and non-pharmaceutical treatment for mental health disorders.
New Treatment Option for Major Depressive Disorder
Syntropic’s unique light based brain stimulation device is based on a light stimulation protocol, discovered by the Siegert Group at ISTA. Their brain stimulation promotes microglia-mediated neuroplasticity, thereby opening up new avenues for treatment of a range of neuropsychiatric disorders, such as Major Depressive Disorder (MDD). With this, Syntropic aims to provide a new treatment option for patients who have failed to achieve an adequate response from traditional pharmaceutical therapies.
“Approximately 70% of patients taking pharmaceutical antidepressants will fail to achieve remission, and up to 25% will stop taking them due to the severity of side effects. These numbers are unfortunately not good enough. Therefore, it is crucial that we begin to develop completely new methods of tackling these disorders. This is why the discoveries of Dr. Venturino and Prof. Siegert are so exciting, they open the potential for an entirely new modality of treatment that is side effect free and easily accessible for the patient.”, explains Mark Caffrey, Syntropic CEO.
“By developing a neuromodulation-based approach for mental health disorders Syntropic is addressing a market with a pressing need and significant potential. We are excited to partner with this ambitious team in commercializing the promising and innovative discoveries made at the Siegert Lab at ISTA”, adds Florian Resch, Managing Partner at xista science ventures.
About Syntropic
Syntropic is an Austria-based pre‑clinical stage medical device company 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 brain disorders. www.syntropicmedical.com
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).