Syntropic secures early-stage funding from xista science ventures and Austria Wirtschaftsservice, to develop new treatment for Major Depressive Disorder
Syntropic Medical, a 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, 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 Medical’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 mental health 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 do not achieve remission and up to 25% stop taking them due to severe side effects. Unfortunately, these numbers are not good enough. It is therefore crucial that we begin to develop entirely new ways to treat these disorders. 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.”, explains Mark Caffrey, Syntropic Medical CEO.
“By developing a neuromodulation-based approach for mental health disorders Syntropic Medical 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). www.xista.vc
About ISTA
xista is part of the ecosystem of the Institute of Science and Technology Austria (ISTA) in Klosterneuburg near Vienna, Austria. ISTA is a PhD-granting research institution committed to curiosity-driven basic research. Over 80 research groups from the natural sciences, mathematics and computer sciences deliver world-class interdisciplinary research. The Institute holds the rights to all resulting discoveries and promotes their exploitation through xista. www.ista.ac.at
xista science ventures is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments ("EFSI") set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.
Press Contact
Mark Caffrey, CEO of Syntropic
+353 87 164 8044
mark@syntropicmedical.com