On January 24, 2024, Motif Neurotech, a neurotechnology company developing minimally-invasive bioelectronics for mental health, announced an oversubscribed Series A financing of $18.75 million led by Arboretum Ventures, with participation from new investors KdT Ventures, Satori Neuro, Dolby Family Ventures, re.Mind Capital, individual investor Max Hodak, and existing investors Divergent Capital, TMC Innovation, PsyMed Ventures, Empath Ventures, and Capital Factory. Wilson Sonsini Goodrich & Rosati advised Motif Neurotech on the transaction.

Proceeds from the Series A financing will be used to advance the development of Motif’s lead product, DOT microstimulator, a miniature brain pacemaker designed to precisely stimulate the brain to restore healthy circuit activity to treat mental health disorders. The initial indication Motif is pursuing for the device is treatment-resistant depression (TRD), a form of major depressive disorder (MDD) that is resistant to anti-depressant medications.

The Wilson Sonsini team that represented Motif Neurotech included Mark Solakian, Amanda Creedon, Drew Kohlmeier, Erica Wolfe Heinz, and Rebecca Lilley.

For more information, please see the press release. Further coverage can be found at Rice News.