The recent medtech conference, LSI Europe ‘23, brought together leading experts in the neurotechnology field to discuss the latest advancements, funding challenges, and ethical considerations. Panelists, including Tonya Dowd, Ken Mariash, Angela Liedler, Ana Maiques, and Carolina Aguilar, shared their insights on navigating the complex landscape of neurotech innovation. Here are six key takeaways from our analyst team.

Unique Funding Challenges in Neurotechnology

Funding for neurotechnology poses unique challenges and offers substantial opportunities for medical device investors, compared to other fields like cardiovascular or ophthalmology.

Ken Mariash emphasized, "This is one of the hottest areas in medtech, despite the downturn in funding." Ana Maiques added, "Traditional Life Science investors in Boston tend to do a lot of biotech. Neuro was really hard to raise money. But, in the last few years, phenomenal companies like Syncron and other great companies have been doing great funding rounds."

Importance of Early Reimbursement and Market Access Strategy

Developing a reimbursement and market access strategy early is crucial for medtech innovators to ensure their technologies can reach the market efficiently.

Ana Maiques highlighted the complexity of this process, stating, "Some people spend more time and money on reimbursement than on regulatory strategy. Resources like the Biodesign center at Stanford, where they have a consortium of experts that help entrepreneurs navigate those difficulties, are super worth it when you're starting." 

Regulatory and Product Development Challenges

Neurotech innovations face distinct challenges during product development and regulatory approval processes, which can impact their commercial success.

Ken Mariash shared his experience, "With a non-invasive therapy, of course, the bars are lower. There are not as many questions about safety. But, as others have said, reimbursement is really the key." Angela Liedler found unexpected support in her regulatory journey, stating, "It was surprisingly helpful how the communication with the notified body flew. They were highly supportive."

Ethical Considerations in Neurotechnology

Ethical considerations are paramount when developing technologies that interact directly with the brain, impacting patient autonomy and identity.

Ana Maiques discussed the deep ethical implications: “Do your patients hold autonomy, identity, and agency when you stimulate them?... I think the brain is actually the next frontier." Angela Liedler added, "I am a medical doctor and suddenly find all these regulations very hard to overcome, but they are okay because they are there to protect patients."

The Shift to Network Neuromodulation

A significant shift from traditional nerve stimulation to network neuromodulation in neurotechnology offers new therapeutic potential.

Ken Mariash explained, "We're moving into a new era of neuromodulation, where it's not about nerve modulation or even a modulation of a particular part of the brain. Now, we’re talking about network neuromodulation." Carolina Aguilar supported this view, noting, "I never understood why we were modulating nuclei and not considering the rest of the brain and beyond. We have central and peripheral nervous systems, and millions of circuits correlate with those two systems. If we want to reach the full potential, we need to understand the full connectivity between central and peripheral."

Full Discussion and More Insights

The panel at the LSI Europe ‘23 medtech conference highlighted the dynamic and evolving nature of the neurotechnology market. By addressing unique funding challenges, emphasizing the importance of early reimbursement and market access strategies, navigating regulatory hurdles, considering ethical implications, and leveraging network neuromodulation, neurotech innovators can drive significant advancements in medical technology

The full panel discussion was published on LSI’s website, and can be found at the link below:

• Neurotech, the Next Frontier: Building, Investing, & Commercial Success in Brain Health, & the Ethical Implications of Neuroinnovation | LSI Europe '23

To hear more insightful panel discussions on medtech innovation and investment, join us at LSI Europe ‘24 on September 16th to 20th in Sintra, Portugal.