Iota Biosciences

About Iota Biosciences

Iota Biosciences operates at the intersection of medical technology and bioelectronics, concentrating on the development of ultra-small, implantable devices for diagnostic and therapeutic purposes. The company was founded in 2017 by Jose Carmena and Michel Maharbiz, both professors at the University of California, Berkeley, to commercialize their pioneering work on "neural dust" technology. Carmena, a professor of Electrical Engineering and Neuroscience, focuses on brain-machine interfaces and neuroprosthetics, while Maharbiz, a professor of Electrical Engineering and Computer Science, is a co-inventor of the neural dust concept, which enables tiny, ultrasonically powered implants. Their combined expertise in neuroengineering and miniaturized electronics forms the scientific backbone of the company.

The company's core technology circumvents the limitations of conventional implants, which often require bulky batteries and wired connections for power and communication. Iota's devices are powered wirelessly by ultrasound, which also serves as the communication medium, allowing them to be millimeter-sized and implanted with minimally invasive procedures. This technology enables the devices to be placed deep within the body to monitor physiological activity, record data from organs, and stimulate nerves with high precision. The ultimate goal is to create devices smaller than a cubic millimeter that can facilitate closed-loop therapies by sensing and treating conditions in real-time.

After an initial Series A funding round of $15 million in 2018, Iota entered a research and development partnership with Astellas Pharma in 2019. This collaboration proved successful, leading to Astellas acquiring Iota Biosciences in October 2020 for an initial payment of $127.5 million, with up to $176.5 million in additional milestone-based payments. Now operating as a wholly-owned subsidiary of Astellas, Iota Biosciences is leveraging the pharmaceutical giant's resources and market access to accelerate the clinical development of its bioelectronic platform. The company is exploring applications across several high-need medical areas, including bladder disorders, autoimmune diseases, cancer, and other neurological conditions.