Ottobock invests in Phantom Neuro’s pioneering neurotechnology
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Leading MedTech champion Ottobock has invested in Phantom Neuro, an innovative neurotechnology company working on technology for an intuitive human-machine interface. Ottobock acts as lead investor in the USD 19 million Series A financing round. The investment marks the next step in the company's continued pursuit of pioneering opportunities in the field of prosthetics and orthotics.
Strategic partnership to promote Phantom X, a neurotechnological control system for prostheses
Leading MedTech champion Ottobock has invested in Phantom Neuro, an innovative neurotechnology company working on technology for an intuitive human-machine interface. Ottobock acts as lead investor in the USD 19 million Series A financing round. The investment marks the next step in the company's continued pursuit of pioneering opportunities in the field of prosthetics and orthotics.
Accelerating research and market launch
The startup based in Austin, Texas, plans to use the funding to accelerate clinical trials and bring the technology to market. The product, called "Phantom X", is designed to provide intuitive control of prosthetic limbs, enhancing the user's experience of a natural extension of the human body. To strengthen the partnership, Ottobock will also join Phantom Neuro's Board of Directors and actively support the young company in its further growth.
Strategic investment strengthens Ottobock's MedTech leadership
Oliver Jakobi, CEO of Ottobock SE & Co. KGaA: "Phantom Neuro has the potential to revolutionize the way people interact with prostheses. Their minimally invasive neural interface technology represents an exciting step forward for the field. We look forward to working with Phantom Neuro."
Dr. Connor Glass, Founder and CEO of Phantom Neuro; " Ottobock’s backing underscores the growing convergence of neurotechnology, prosthetics, and robotics. For decades, Ottobock has been at the forefront of restoring mobility for millions of people. By partnering with them, we’re accelerating Phantom X’s path to market and laying the groundwork for the future we all desire where assistive devices truly function as natural extensions of the human body."
This funding follows Phantom Neuro’s recent Breakthrough Device Designation and TAP (Targeted Acceleration Pathway) Designation from the U.S. Food and Drug Administration (FDA), which underscores the potential and relevance of the technology and leads to additional benefits in the development and commercialization process.
About Phantom Neuro
Phantom Neuro is a neurotechnology company developing a minimally invasive interface that enables intuitive control of prosthetics and robotic exoskeletons. The centerpiece of the platform, Phantom X, is designed to restore natural movement and functionality to amputees and people with limited mobility, allowing prosthetics, orthotics and exoskeletons to function as seamless extensions of the human body. Phantom Neuro was originally developed at Johns Hopkins University School of Medicine and has received financial backing from investors including Blackrock Neurotech, Breakout Ventures, Draper Associates, LionBird Ventures and Time BioVentures. Phantom Neuro is headquartered in Austin, Texas, and is supported by a globally recognized advisory board comprised of experts from CTRL-Labs, D.A.R.P.A., Johns Hopkins University and Precision Neuro. For more information, visit www.phantomneuro.com.
Merle Florstedt
Head of Corporate Communications & Unternehmenssprecherin
Ottobock SE & Co. KGaA Max-Näder-Straße 15 | 37115 Duderstadt | Deutschland M +4915144161625 merle.florstedt@ottobock.de | www.ottobock.com