The Business Of Neurotech

What does it take to turn cutting-edge brain science into real-world impact? In this episode of The Business of Neurotech Podcast, host Adam Fraser is joined by Dr Amy Kruse, General Partner and CIO (Chief Investment Officer) at Satori Neuro, whose career spans neuroscience research, DARPA (Defense Advanced Research Projects Agency) program leadership, and venture investing. Dr Kruse shares how her early work in human performance and neurotechnology revealed both the promise and the limitations of emerging tools, and why commercialisation became a key driver of progress. The conversation explores the evolution of the neurotech sector, from early, hardware-heavy systems to today’s ecosystem of scalable platforms, data-driven insights, and investment opportunities. Dr Kruse offers a clear-eyed view on what it takes to build successful neurotech companies, from focusing on core technical breakthroughs to aligning science with commercial milestones. She also discusses the shift toward precision treatment and the long-term potential of technologies that can both treat and prevent neurological challenges. Listen in to hear Dr Amy Kruse’s perspective on where neurotech is heading next!Key Points From This Episode:[00:16] Dr Amy Kruse’s journey from neuroscience research and DARPA to Satori Neuro.[03:52] How these experiences led Dr Kruse to focus on commercialising neurotechnology.[05:49] Barriers to early neurotech adoption, including hardware limitations.[08:13] Lessons from DARPA on combining technical progress with commercial milestones.[10:05] Defining neurotechnology, the brain capital economy, and emerging market terms.[13:34] The growing role of specialist investors and rising capital in neurotech.[17:32] Overview of Satori Neuro’s investment approach and focus areas.[20:03] The role of precision neuroscience and the move toward personalised treatment.[23:09] Dr Kruse’s current approach to treatment and prevention in neurotech investing.[25:04] The rise of consumer neurotech and growing interest in personal brain data.[27:55] Dr Kruse’s preference for platform technologies over single-outcome investments.[30:01] What she looks for in founders, including self-awareness and coachability.[34:21] How the potential of Brain-computer interfaces (BCIs) is driving investment and future applications.[40:02] Where to follow Dr Amy Kruse’s work, including her newsletter and Satori Neuro.Links Mentioned in Today’s Episode:Amy KruseAmy Kruse on LinkedInSatori CapitalSatori NeuroSign up to the Satori Neuro NewsletterAdam Fraser on LinkedInOmniscient NeurotechnologyThe Business of Neurotech Podcast

Can focused ultrasound finally make deep brain stimulation scalable, non-invasive, and practical for everyday patients? In this episode of The Business of Neurotech, host Adam Fraser sits down with Keith Murphy, co-founder and CTO of Attune Neurosciences, to explore how his path from behavioural neuroscience and optogenetics led to a company building wearable focused ultrasound technology for brain stimulation. Keith explains how Attune is tackling the commercial limits of clinic-based neuromodulation, why portability and at-home treatment matter, and how the company is balancing scientific ambition with startup realities like reimbursement, product design, indication focus, and fundraising. They also dig into Attune’s early work in chronic pain and obsessive-compulsive disorder, the broader promise of neurotechnology across mental health and neurology, and how artificial intelligence is changing both product development and the investment landscape. Tune in for a sharp look at what it takes to turn frontier neurotechnology into a real business with Keith Murphy.Key Points From This Episode:[01:04] Learn how Keith’s background led him to found Attune Neurosciences.[04:54] Hear how he began thinking about translating his science into a scalable company.[06:38] Find out how he balances being a scientist with running a company.[08:50] How focused ultrasound compares with transcranial magnetic stimulation (TMS).[12:52] Discover why Attune is focused on building a prescribed at-home medical device.[13:58] Understand how Attune’s wearable works and why it is less intimidating for patients. [15:41] Why chronic pain and obsessive-compulsive disorder are effective early indicators.[20:02] Whether psychiatry forms part of Attune’s long-term neurotechnology roadmap.[22:38] Uncover Attune’s funding journey so far and its path toward a Series A round.[26:28] Unpack the opportunities and challenges of the neurotech market. [29:08] How fundraising has helped refine Attune’s strategy, product, and approach.[31:15] Explore how AI is driving software development while creating more challenges.[35:20] Keith shares how to connect with him and learn more about Attune. Links Mentioned in Today’s Episode:Keith Murphy on LinkedInAttune Neurosciencesfus Forward PodcastThe Scripps Research InstituteStanford UniversityRajiv Mahadevan on LinkedInAmy Kruse on LinkedInGenoa VenturesAdam Fraser on LinkedInOmniscient NeurotechnologyThe Business of Neurotech Podcast

What does it really take to turn neurotechnology into a scalable business? In this episode of The Business of Neurotech, host Adam Fraser sits down with Michael Brotherton, co-founder and managing partner at Dragonfly 44, to explore the capital, strategy, and market forces shaping the sector. Michael talks about his journey from science into investment banking and how this ultimately led him to establish a business specialising in neuroscience and neurotechnology. He then delves into his definition of neuroscience and neurotech across devices, diagnostics, therapeutics, BCI, and digital tools. Adam and Michael also dig into the surge of investor interest in brain-computer interfaces, the growing overlap between neurotech, biomarkers, and AI, and why clinician networks and community-driven investing could become a real edge as the market matures. Tune in for a look at where neurotech is heading and what it may take to build lasting companies in the space with Michael Brotherton!Key Points From This Episode:[00:58] Background about Michael and what led him to focus on neurotech. [05:11] What type of expertise is needed to work in the neurotech space.[07:21] Learn what neurotech is and what makes it stand out from other sectors.[11:03] Find out why defining the size and scope of the neurotech market is still difficult.[13:30] Explore what is driving such strong investor interest in brain-computer interfaces.[15:12] Michael’s take on the most compelling neurotech subsectors today.[17:02] Discover how Dragonfly 44 approaches servicing the neurotech market.[19:10] What makes neurotech corporate finance different from medtech.[21:37] Hear why building a venture fund was always part of Michael’s long-term vision.[22:50] Unpack how AI could reshape investing, capital raising, and networking.[29:04] How AI may lower startup capital requirements and open up more opportunities.[30:21] Understand how Michael is thinking about his funding and networking efforts.[34:16] Final comments and how to connect with Michael to learn more about his work.Links Mentioned in Today’s Episode:Michael Brotherton on LinkedInDragonfly 44 CapitalD44 VenturesNeuroscience NewsAdam Fraser on LinkedInOmniscient Neurotechnology