Amsterdam-based medical technology company Phosphoenix has completed a €1.3 million financing round to advance a neuroprosthetic system for people with profound blindness. The funding combines renewed support from existing investors with a new commitment from ROM InWest. It will be used to prepare for a first-in-human clinical study and to continue developing the company's neurostimulation platform.
Funding Details and Investor Backing
Existing investors TTT Medtech Fund, managed by 819 Capital, FIRST Fund, managed by BioGeneration Ventures, and Innovatiefonds Noord-Holland all participated in the round. ROM InWest joined as a new investor, strengthening the syndicate with regional support from the province of North Holland. The financing follows the company's pre-seed round announced in September 2022 and reflects continued confidence in its clinical direction.
Chief Executive Officer Hans Brons said the financing marks an important step toward bringing the technology into the clinic. He noted that the support of existing investors and the commitment of ROM InWest validate the progress achieved so far. He added that the company is advancing first-in-human preparations while building toward a Series A financing.
Technology Designed to Bypass Damaged Visual Pathways
Phosphoenix was founded in 2019 as a spin-off from the Netherlands Institute for Neuroscience, an institute of the Royal Netherlands Academy of Arts and Sciences. The company is developing a prosthesis that directly stimulates the lateral geniculate nucleus, a key relay centre in the brain's visual pathway. This approach is designed for people with retinal or optic nerve damage, for whom current treatment options rarely restore functional vision.
At the core of the system is the Fountain Probe, a proprietary high-density neural interface with more than 1,000 microelectrodes. The probe is implanted using stereotactic neurosurgical techniques that build on established deep brain stimulation methods. Users wear glasses with a camera, and a pocket processor uses artificial intelligence to convert video into real-time electrical stimulation instructions.
The implant applies tiny electrical pulses to the visual system, producing artificial visual perceptions known as phosphenes. Multiple phosphenes are generated to form an interpretable image, similar to a constellation of stars. Preclinical studies have shown neural and behavioural responses consistent with electrically induced visual percepts, according to the company.
Clinical Preparation and Future Milestones
Phosphoenix is now progressing toward its first-in-human clinical study in collaboration with Amsterdam UMC. The new capital will support study preparations and further development of the neurostimulation system. At the same time, the company is preparing for a Series A financing round intended to fund its broader clinical development programme.
Sara Schaafsma, senior investment manager at ROM InWest, described the technology as potentially life-changing for people with profound blindness. She said the company combines scientific excellence, strong clinical relevance, and a team making clear progress toward clinical validation. She also highlighted Phosphoenix as an example of how scientific innovation from the Amsterdam region can translate into societal impact.
With this €1.3 million financing round, Phosphoenix moves closer to testing its neuroprosthetic approach in humans. The company's goal is to restore meaningful functional vision for people affected by profound blindness. If successful, the technology could offer a new pathway for patients who currently have no effective treatment options today.