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Biotech Startup iota Expands Leadership, Closes $15 Million Series A

iota Biosciences, a developer of implantable bioelectronic devices, expanded its leadership team following completion of its $15 million Series A funding round led by Horizons Ventures, Astellas, Bold Capital Partners, Ironfire, and Shanda.

The company named James Hattersley as senior vice president of corporate business development. Hattersley—a business development executive with 25 years of experience in the life sciences industry—held senior business development roles at Santen Pharmaceutical Co. LTD., Adherium LTD., Nektar Therapeutics, and Sun Pharma Industries.

iota holds exclusive license to the award-winning “neural dust” platform based on technology developed at the University of California, Berkeley, by co-founders and co-CEOs Jose Carmena, Ph.D. and Michel Maharbiz, Ph.D. The company plans to use the Series A funding to accelerate commercialization of its millimeter-sized ultrasonic devices, which offer potentially revolutionary therapeutic applications for numerous chronic conditions including inflammation, motor disorders, and cognitive impairment.