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AFTER WORLD-FIRST BRAIN IMPLANT, KITEA HEALTH RAISING $20M


In a world-first, start-up Kitea Health has successfully implanted a chip under an Auckland patient’s skull that will monitor fluid pressure - part of a trial that will expand to 20 patients.


Article source: Chris Keall, NZ Herald


The startup is now seeking $20m in a Series A raise, which will help fund a wider trial involving 150 patients across NZ and the US, with the goal of gaining FDA approval in around a couple of years.


Kitea Health - seeking private money for its latest round, now that its human trials are established - has previously secured around $14m in taxpayer funding (plus around $6m from private investors) but co-founder and CEO Simon Malpas says he’s worried about recent cuts to R&D, science and startup-boosting programmes, which could limit the ability of other early-stage companies to follow in his firm’s footsteps.



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