Science Startup Diligence Report
Proceed only to confirmatory diligence. Science has unusually strong public financing and clinical-evidence signals for a private medtech/neurotechnology company, but the most value-relevant issues—approval, reimbursement, unit economics, clinical safety, manufacturing yield, revenue quality and financing preferences—are not publicly verifiable.
Science Startup Diligence Report
Science Corporation is a credible active private unicorn candidate based on CB Insights, SEC Form D filings, company financing announcements, public clinical/product materials and hiring signals. The strongest public evidence supports the US$230M Series C, US$1.50B unicorn listing, PRIMA clinical evidence and active operations. The investment case remains highly contingent on private diligence around financial quality, cap table, regulatory approval, safety, reimbursement, manufacturing scale, IP chain and GTM execution.
No public audited financials, ARR, gross margin, cash, burn, debt, revenue concentration or retention metrics.
Diligence request: Request audited financials, KPI pack, cash/debt schedule, forecast model, cohort retention and quality-of-revenue analysis.
PRIMA appears clinical/investigational in public materials, with CE mark submission but no publicly verified full approval package.
Diligence request: Obtain all FDA/notified-body correspondence, clinical-trial status, labeling, quality-system audits and approval plan.
CB Insights valuation and financing announcements do not disclose liquidation preferences, debt, warrants, side letters or option-pool economics.
Diligence request: Review full cap table, financing docs, investor rights, debt and valuation bridge.
The public clinical abstract reports serious adverse events; durability, causality and post-market surveillance are not fully public.
Diligence request: Review complete clinical study reports, AE narratives, DSMB minutes, device-explant data and long-term follow-up.
PRIMA device architecture is public, but manufacturing yield, failure rates, field service, training and usability are not.
Diligence request: Run technical diligence on device reliability, software, hardware, service workflows, supply chain and quality system.
Patients and trials are public, but paying customers, reimbursement, provider contracts, channel economics and top-account concentration are not.
Diligence request: Request pipeline, payer strategy, reimbursement evidence, top contracts, customer references and sales productivity model.
Commercial launch depends on specialized device fabrication, quality systems and operational scale not publicly disclosed.
Diligence request: Review supplier list, yield data, equipment dependencies, quality audits, redundancy and capacity plan.
Public PRIMA acquisition signal creates assignment, license, royalty, lien and assumed-liability diligence needs.
Diligence request: Review acquisition agreements, patent assignments, licenses, freedom-to-operate and retained obligations.
Science has strong public financing and unicorn evidence, including a 2026 Form D and CB Insights US$1.50B row. Operating financials, revenue quality, cash, debt, projections and ownership economics remain private-data-room issues.
not publicly verifiable confidence: high
No audited financial statements, management accounts, ARR, margins, backlog, AR aging, cash, burn or debt schedule were public.
| topic | public signal | verification status | diligence request |
|---|---|---|---|
| Audited financial statements | No audited income statement, balance sheet, cash-flow statement or footnotes found in public sources. | not_publicly_verifiable | Audited financials and management accounts for three years plus YTD. |
| Revenue / ARR / gross margin | No revenue, ARR, gross margin, backlog or contribution margin disclosed. | not_publicly_verifiable | Revenue by product, geography and channel; gross margin bridge; backlog; billings/collections. |
| Cash, debt, burn and runway | Financing proceeds disclosed, but cash balance, debt and burn not public. | not_publicly_verifiable | Cash/debt schedule, monthly burn, runway, covenants and planned capex. |
partially verified confidence: medium
The US$1.50B CB Insights valuation is public; the forecast, valuation bridge and launch assumptions are private.
| topic | public signal | verification status | diligence request |
|---|---|---|---|
| US$1.50B valuation | CB Insights lists Science at US$1.50B on 2026-03-05. | verified for database row | Signed term sheet, post-money calculation, preference stack and secondary components. |
| US$490M total capital since 2021 | Science announcement states approximately US$490M total capital since founding. | partially_verified | Reconcile to cash received, transaction fees, debt, SAFEs/notes and grants. |
| Three-year forecast | No projections or scenario model disclosed. | not_publicly_verifiable | Board-approved model with regulatory, manufacturing, reimbursement and launch assumptions. |
partially verified confidence: medium
SEC filings identify issuer and related persons, but shares, fully diluted ownership, debt, warrants and preferences are not public.
| stakeholder or class | public position | diligence caveat |
|---|---|---|
| Science Corp issuer | Delaware corporation, Alameda business address, CIK 0001873836 in SEC filings. | Good standing, subsidiaries, intercompany IP ownership and foreign entities need confirmation. |
| Investors | CB Insights lists Artis Ventures and Khosla Ventures; Science announcement names Khosla, Lightspeed, Y Combinator, IQT and Quiet Capital among participants. | Ownership percentages, preferences, board rights, side letters and ROFR/co-sale terms are not public. |
| Options, warrants, notes and debt | No complete public schedule found. | Request fully diluted cap table, option pool, convertible notes, warrants and debt instruments. |
verified confidence: high
Public financing history is relatively strong for a private company because multiple SEC Form D filings and a company Series C announcement are available.
| date | round or filing | amount sold usd | offering or valuation | lead or participants | source |
|---|---|---|---|---|---|
| 2021-07-21 filing / 2021-07-06 first sale | Form D | 47324986 | US$49.5M offering | Max Hodak and Jed McCaleb listed as related persons | SEC Form D |
| 2024-06-07 filing / 2024-05-23 first sale | Form D | 25999998 | US$50.0M offering | Max Hodak and Jed McCaleb listed as related persons | SEC Form D |
| 2025-04-14 filing / 2025-03-28 first sale | Form D | 103604355 | US$110.0M offering | Max Hodak, Jed McCaleb, Tricia Gugler, Alex Feerst listed as related persons | SEC Form D |
| 2026-03-06 filing / 2026-02-26 first sale | Series C / Form D | 230049745 | US$250.0M offering; CB Insights valuation US$1.50B | Khosla Ventures, Lightspeed, Y Combinator, IQT, Quiet Capital; SEC related persons include Max Hodak, Jed McCaleb, Darius Shahida, Alex Feerst, Alan Mardinly | SEC Form D, Science announcement, CB Insights |
Form D values are securities-offering signals, not audited proceeds or full financing history.
Science's product story is centered on PRIMA, a clinical-stage visual prosthesis with public architecture and clinical-publication evidence. The broader portfolio is public but less mature and less verifiable.
partially verified confidence: high
PRIMA product architecture and clinical evidence are public; pricing, cost structure, profitability, manufacturing scale and final approvals are not.
| product or platform | audience or use | public features | status and gap |
|---|---|---|---|
| PRIMA Visual Prosthesis | Patients with advanced degenerative retinal diseases including dry AMD/geographic atrophy. | Subretinal implant plus glasses/camera/infrared projector; 378 light-powered pixels. | Clinical-stage; approval, reimbursement, training and service model need confirmation. |
| Biohybrid | Future neural-interface platform. | Company describes connecting to the brain with living neurons. | Public concept/pipeline signal; readiness, safety and budget unknown. |
| Vessel | Perfusion technology platform. | Company describes perfusion technology to support and extend life. | Pipeline signal; clinical path and economics unknown. |
| Foundry / BCI Ecosystem | External or internal neural-engineering services and ecosystem tooling. | Foundry page and Series C announcement reference MEMS Foundry and BCI Ecosystem businesses. | Revenue, customer contracts, margins and capacity unknown. |
| dimension | public evidence | verification status | diligence request |
|---|---|---|---|
| Clinical efficacy | NEJM/PubMed abstract reports 26/32 assessed participants with meaningful visual-acuity improvement at 12 months. | verified | Full study report, endpoint definitions, subgroup data and durability. |
| Safety | Public abstract reports 26 serious adverse events in 19 participants. | verified | AE narratives, causality, device/procedure attribution and mitigation plan. |
| Regulatory status | Science says CE mark application submitted and public pages include investigational-device caution; no public FDA approval found. | partially_verified | FDA/notified-body correspondence, QMS status, labeling, audit findings and country launch plan. |
| topic | public signal | verification status | diligence request |
|---|---|---|---|
| PRIMA device price | No public device ASP, procedure economics, warranty or service price found. | not_publicly_verifiable | Pricing model, gross-to-net assumptions, warranty/service costs and ASP scenarios. |
| Reimbursement and coverage | No payer coverage decisions or reimbursement codes reviewed in public materials. | not_publicly_verifiable | Country-by-country reimbursement strategy, payer feedback and health-economic dossier. |
| Foundry pricing | Foundry service existence is public; price sheet and customer economics not found. | not_publicly_verifiable | Customer contracts, utilization, margin, capacity and pricing schedule. |
Public evidence supports patients, clinical participants, investors/partners and service positioning, but not paying customers, revenue concentration, churn or supplier economics.
partially verified confidence: medium
Clinical participants and patients are visible; commercial top customers are not.
| relationship type | public signal | commercial revenue status | diligence request |
|---|---|---|---|
| Clinical-trial participants | NEJM/PubMed abstract references 38 implanted participants and 32 assessed at 12 months. | Not revenue evidence. | Enrollment, retention, site-level performance and follow-up data. |
| Patients across countries | Science company page states dozens of patients in six countries enrolled. | Not revenue evidence. | Country enrollment, consent, adverse events and commercialization transition plan. |
| Commercial customers/providers | No named paying hospitals, providers or top customers publicly verified. | Not publicly verifiable. | Top 15 customers/providers, contracts, pipeline and references. |
partially verified confidence: medium
Investor, clinical and foundry ecosystem relationships are public, but their commercial terms are not.
| partner or relationship | nature | public evidence | gap |
|---|---|---|---|
| Khosla, Lightspeed, Y Combinator, IQT, Quiet Capital | Financing/investor syndicate | Named in Science Series C announcement. | Governance rights, customer/channel help and follow-on obligations unknown. |
| Clinical investigators and sites | Clinical development and potential launch KOL ecosystem | Science references PRIMA clinical trials and named investigators in public announcements. | Site contracts, enrollment obligations and investigator payments unknown. |
| Foundry customers/suppliers | Potential commercial/service ecosystem | Foundry service pages exist. | Customer list, agreements, revenue, liability and IP ownership not public. |
not publicly verifiable confidence: high
No revenue by customer or customer concentration was public.
| topic | public signal | verification status | diligence request |
|---|---|---|---|
| Top 15 customers/providers | No public list of top paying customers or providers. | not_publicly_verifiable | Top 15 customers by revenue, contract status, renewal dates and concentration. |
| Customers above 5% of revenue | No public revenue by customer. | not_publicly_verifiable | Customer concentration and revenue-recognition support. |
| Severed relationships | No public list of severed customer, partner or supplier relationships. | not_publicly_verifiable | Lost accounts/sites/suppliers for last two years and root-cause analysis. |
not publicly verifiable confidence: low
No public schedule of severed customer, partner or supplier relationships was found.
partially verified confidence: medium
Public product architecture implies specialized manufacturing, clinical and electronic/supply dependencies, but top suppliers and purchase amounts are private.
| topic | public signal | verification status | diligence request |
|---|---|---|---|
| MEMS fabrication and implant manufacturing | Series C announcement references growing MEMS Foundry and PRIMA commercialization. | partially_verified | Supplier list, equipment capacity, yield, QMS, redundancy and long-lead components. |
| Clinical sites and surgeons | Clinical studies and geographic activity are public. | partially_verified | Site contracts, surgeon training, procedure capacity and adverse-event response workflow. |
| Software/electronics/glasses supply chain | PRIMA architecture includes glasses/camera/infrared projector and implant pixels. | partially_verified | BOM, suppliers, cybersecurity, field updates, repair and warranty process. |
Science sits at the intersection of vision-restoration devices, BCI/neurotechnology and neural-engineering services. Public evidence supports category presence but not market share, win/loss or pricing power.
partially verified confidence: medium
Science's basis of competition appears to include clinical evidence, regulatory timing, manufacturing/foundry capability and breadth of BCI platform.
| competitor or alternative | segment | overlap with science | differentiator to test | source basis |
|---|---|---|---|---|
| Neuralink and other invasive BCI companies | Brain-computer interfaces | Investor/customer attention, technical talent and regulatory precedent. | Science's near-term visual prosthesis pathway versus broader BCI applications. | Science positions PRIMA as BCI retinal implant and broader BCI platform. |
| Retinal implant/prosthesis developers and legacy Pixium/Second Sight category | Vision restoration devices | Direct or adjacent patient need and clinical/regulatory pathway. | Clinical outcome, device usability, regulatory status, manufacturing scale and reimbursement. | PRIMA product and clinical publication evidence. |
| Gene therapy, cell therapy and ophthalmology drug/device alternatives | Retinal disease treatment alternatives | Compete for patients, provider attention, payer budgets and clinical endpoints. | Restoration claim, eligible patient pool, durability, safety and payer acceptance. | Analyst categorization from disease/application claims. |
| axis | science public position | diligence view | risk id |
|---|---|---|---|
| Clinical evidence | Peer-reviewed PRIMA abstract with meaningful visual-acuity improvement and serious adverse events. | Potentially strong evidence signal, but safety/durability details matter. | R-004 |
| Regulatory/commercial readiness | CE mark application and expected Europe launch language; no public FDA approval found. | High-gating risk until approval, labeling and reimbursement are confirmed. | R-003 |
| Vertical integration / foundry | MEMS Foundry and ecosystem businesses are public. | Could be defensible if capacity/yield/IP are strong; could be capital-intensive bottleneck. | R-007 |
| topic | public signal | verification status | diligence request |
|---|---|---|---|
| Eligible patient population | Public pages cite degenerative retinal diseases; detailed TAM/SAM/SOM not disclosed. | partially_verified | Epidemiology by indication, eligibility filters, procedure capacity and contraindications. |
| Provider and surgeon adoption | Clinical-study activity is public, but routine commercial adoption not yet verified. | not_publicly_verifiable | KOL/provider interviews, training requirements and launch-site contracts. |
| Payer economics | No public reimbursement coverage or price evidence found. | not_publicly_verifiable | Health-economic model, payer interviews, coverage timeline and coding plan. |
Public GTM evidence is mostly launch intent, PR, patient navigation and foundry/service positioning. Sales productivity, pipeline conversion, CAC, reimbursement and commercial budget remain private.
partially verified confidence: medium
Science publicly positions Series C proceeds toward PRIMA commercialization and clinical-trial expansion, with Foundry as a services channel.
| channel | region or audience | public evidence | gap |
|---|---|---|---|
| Clinical-to-commercial PRIMA launch | Europe initially, with clinical expansion into other countries. | Series C says capital funds PRIMA commercialization and expected upcoming Europe launch. | Approval, launch sites, reimbursement, salesforce and service model. |
| Patient registry / patient education | Patients with retinal diseases. | Science website links patient registry and patient applications pages. | Conversion, consent, privacy controls and acquisition economics. |
| Foundry services | Neural-engineering builders/research customers. | Foundry neural-engineering service page exists. | Customer list, pipeline, price, margin and delivery SLAs. |
| date | signal | marketing implication | verification status |
|---|---|---|---|
| 2026-03-05 | Series C announcement centered on PRIMA commercialization and clinical-trial expansion. | Financing supports credibility and launch narrative. | verified |
| 2025-10-20 | NEJM/PubMed PRIMA clinical publication and Science news amplification. | Clinical evidence can support KOL and payer messaging subject to labeling. | verified |
| 2025-06-23 | CE mark application announcement. | Regulatory-progress message, not approval. | partially_verified |
not publicly verifiable confidence: high
No major customer status, future growth or pipeline metrics were public.
| topic | public signal | verification status | diligence request |
|---|---|---|---|
| Sales cycle and quota | No public salesforce productivity model. | not_publicly_verifiable | Quota, attainment, sales cycle, ramp time, pipeline stage conversion and win/loss. |
| Budget to implement marketing plan | Series C gives capital availability but no GTM budget or CAC/payback. | not_publicly_verifiable | Commercial budget, hiring plan, CAC/payback and sensitivity scenarios. |
| Provider/payer funnel | No public pipeline by provider, country or payer. | not_publicly_verifiable | Launch-site pipeline, payer status, provider training funnel and patient conversion. |
partially verified confidence: medium
Visible avenues include PRIMA clinical-to-commercial conversion, patient registry/provider channels and Foundry services.
not publicly verifiable confidence: high
Sales compensation, quota, cycle, attainment and hiring ramp are not public.
partially verified confidence: medium
Recent financing supports ability to fund a plan, but budget allocation and readiness are not public.
R&D diligence should focus on PRIMA clinical/regulatory execution, technical readiness of Biohybrid/Vessel, foundry/manufacturing capabilities and IP ownership.
partially verified confidence: medium
Public leadership, hiring categories and product pages show R&D and clinical activity, but budgets, team depth and reporting lines are private.
| name or role | public role | source signal | diligence need |
|---|---|---|---|
| Max Hodak | CEO / signatory | SEC Form D signatory as Chief Executive Officer. | Employment, equity, invention assignment and key-person retention. |
| Alan Mardinly | Related person / technical leadership signal | Listed as related person in 2026 Form D. | Role, responsibilities, IP assignment and retention. |
| Murat Günel, MD | Medical Director for Brain-Computer Interfaces | Science leadership announcement. | Consulting/employment terms, clinical governance and conflict review. |
partially verified confidence: medium
PRIMA has the strongest public evidence; other programs are pipeline/platform signals with limited public readiness data.
| program | public status | next milestone or gap | related risk |
|---|---|---|---|
| PRIMA for advanced dry AMD/geographic atrophy | Clinical results published; CE mark application submitted; commercialization funded by Series C. | Approval/labeling, reimbursement, launch readiness and long-term safety. | R-003/R-004 |
| PRIMA expansion to Stargardt disease and retinitis pigmentosa | Series C announcement states trial expansion plans with Sydney Eye Hospital investigator. | Protocol, enrollment, endpoints, budget and regulatory path. | R-003/R-012 |
| Biohybrid and Vessel | Named as core pipeline programs/platforms in public pages and financing announcement. | Technical readiness, preclinical/clinical path, IP and cost to clinic. | R-005/R-007 |
| asset or dependency | public evidence | diligence risk | request |
|---|---|---|---|
| PRIMA implant pixel and glasses system | 378 light-powered pixels and glasses/camera/projector architecture. | Reliability, cybersecurity, patient usability and manufacturing yield. | Design history file, V&V, usability, reliability and cybersecurity documentation. |
| Pixium-origin PRIMA assets | Science announced Pixium PRIMA transition/acquisition. | IP chain, assumed liabilities, licenses and encumbrances. | Assignment agreements, patent schedule, licenses, liens and obligations. |
| MEMS Foundry capacity | Company references growing MEMS Foundry. | Capacity, quality-system, customer IP and margin risk. | Equipment, capacity, yield, QMS, customer agreements and IP segregation controls. |
Public materials identify several leadership and hiring signals, but not the complete organization, compensation, incentive equity, employee-relations history or turnover.
partially verified confidence: medium
A partial public leadership chart can be assembled from SEC filings and company announcements, but reporting lines and org depth are private.
| name | public role or signal | source | diligence request |
|---|---|---|---|
| Max Hodak | Chief Executive Officer, SEC Form D signatory. | SEC 2026 Form D. | Employment agreement, equity, retention and invention assignment. |
| Jed McCaleb | Related person in SEC filings. | SEC Form D filings. | Role, board/investor rights and conflict review. |
| Darius Shahida | Related person in 2026 Form D and quoted as Chief Strategy Officer in Series C announcement. | SEC Form D and Science announcement. | Role, compensation, retention and commercial responsibilities. |
| Alan Mardinly | Related person in 2026 Form D. | SEC 2026 Form D. | Technical role, IP assignment and retention. |
| Murat Günel, MD | Medical Director for Brain-Computer Interfaces. | Science leadership announcement. | Clinical governance, employment/consulting terms and conflicts. |
partially verified confidence: medium
Careers page categories show active hiring needs across technical, clinical and commercial functions; actual headcount is not public.
| function | public signal | location or scope | diligence need |
|---|---|---|---|
| Clinical/regulatory/commercial | Careers page lists Clinical, Regulatory, Sales and Marketing categories. | Public page; exact roles and locations can change. | Hiring plan, approvals, launch readiness and sales productivity assumptions. |
| Manufacturing/electronics/mechanical/optics | Careers page lists Manufacturing, Electronics, Mechanical and Optics categories. | Supports manufacturing scale-up signal. | Capacity, quality, yield and critical-role vacancy analysis. |
| Software/infrastructure/foundry | Careers page lists Software, Infrastructure and Science Foundry categories. | Supports platform and service operations signal. | Engineering roadmap, attrition, offer acceptance and contractors. |
partially verified confidence: medium
Public management signals exist, but full biographies, tenure, compensation and conflicts were not public.
not publicly verifiable confidence: high
Executive employment agreements, compensation and benefit plans were not public.
| topic | public signal | verification status | diligence request |
|---|---|---|---|
| Compensation arrangements | No public employment agreements, benefit plans or bonus plans found. | not_publicly_verifiable | Executive employment agreements, bonus plans, benefits and contractor agreements. |
| Incentive stock plans | No public option-plan schedule or grants found. | not_publicly_verifiable | Stock plan, grants, vesting, 409A, option exercise prices and repurchase rights. |
| Turnover / employee relations | No public attrition or employee-relations issues verified. | not_publicly_verifiable | Two-year turnover, regretted losses, disputes, complaints, visas and investigations. |
not publicly verifiable confidence: high
No public incentive stock plan, option grants or 409A information was found.
not publicly verifiable confidence: low
No public employee-relations issue schedule was found.
not publicly verifiable confidence: high
Turnover data, regretted losses and retention-plan effectiveness are not public.
Public legal and regulatory evidence highlights PRIMA regulatory status, IP chain-of-title needs and inconclusive litigation searches. Counsel-led diligence remains mandatory.
inconclusive confidence: low
Targeted public CourtListener searches did not reveal a clear material case, but this is not clearance.
| search area | public result | verification status | caveat or request |
|---|---|---|---|
| Pending lawsuits against Science Corp / Science Corporation | Targeted CourtListener searches found no clear material match in accessible results. | inconclusive | Counsel should run full federal/state/non-U.S. searches and request litigation schedule. |
| Pending lawsuits initiated by Science | No clear initiated actions found in targeted public search. | inconclusive | Request litigation schedule including claims, arbitration and demand letters. |
| Employment/product-liability/privacy disputes | No public comprehensive clearance available. | not_publicly_verifiable | Request counsel letters, complaint log, adverse events/product claims, privacy/security incident register. |
inconclusive confidence: low
No clear public lawsuits initiated by Science were found in targeted accessible searches.
not publicly verifiable confidence: low
No public environmental or employee-safety schedule was found; medical-device manufacturing and lab operations require private review.
| matter | public evidence | status | diligence request |
|---|---|---|---|
| PRIMA IP / Pixium-origin assets | Science announced welcoming/acquiring Pixium Vision's PRIMA retinal prosthesis. | partially_verified | Patent schedule, assignments, licenses, royalties, liens, assumed liabilities and FTO opinion. |
| Clinical trials and regulatory path | Public NCT identifiers and CE mark application signal; no public FDA approval confirmed. | partially_verified | Regulatory correspondence, submissions, approvals, QMS audits, labeling and country launch status. |
| Insurance and product-liability coverage | No public insurance schedule found. | not_publicly_verifiable | Product-liability, clinical-trial, D&O, cyber, E&O and general liability policies and claims history. |
partially verified confidence: medium
PRIMA/Pixium asset transition creates material chain-of-title, license, FTO and assumed-liability diligence needs.
not publicly verifiable confidence: high
No public insurance schedule was found.
not publicly verifiable confidence: high
Material contracts with investors, suppliers, clinical sites, manufacturers, customers and partners are not public.
partially verified confidence: medium
Public materials show clinical-trial activity and CE mark submission, but do not prove approval status or absence of agency issues.
| ID | Claim | Status | Sources |
|---|---|---|---|
| EC-001 | CB Insights lists Science as a US healthcare/life-sciences unicorn at US$1.50B. | verified high | SRC-001 |
| EC-002 | Science's 2026 Form D reports a US$250.0M offering with US$230.05M sold and first sale on 2026-02-26. | verified high | SRC-002 |
| EC-003 | Prior SEC Form D filings show material 2021, 2024 and 2025 financing activity. | verified high | SRC-003SRC-004SRC-005 |
| EC-004 | Science announced a US$230M Series C with Khosla, Lightspeed, Y Combinator, IQT and Quiet Capital participation and about US$490M total capital since 2021. | verified medium | SRC-006 |
| EC-005 | Science publicly presents itself as an active clinical-stage medical technology company with patients and multiple locations. | verified medium | SRC-007 |
| EC-006 | Science's PRIMA page describes a retinal prosthesis system with an implant and glasses, including 378 light-powered pixels and ongoing clinical studies. | verified medium | SRC-008 |
| EC-007 | A NEJM/PubMed abstract reports PRIMA clinical outcomes with meaningful visual-acuity improvement and serious adverse events. | verified high | SRC-009 |
| EC-008 | PRIMA clinical-trial identifiers are public, including PRIMAvera NCT04676854 and earlier feasibility studies. | partially verified medium | SRC-008SRC-010 |
| EC-009 | Science publicly markets a broader portfolio: Biohybrid, Vessel, MEMS Foundry and BCI Ecosystem. | partially verified medium | SRC-011SRC-012SRC-006 |
| EC-010 | Science has public hiring signals across clinical, regulatory, manufacturing, software, foundry and other functions. | verified medium | SRC-013 |
| EC-011 | Public leadership signals include Max Hodak as CEO, Alan Mardinly and other related persons in SEC filings, plus public medical leadership appointments. | verified medium | SRC-002SRC-014 |
| EC-012 | Science's revenue, ARR, gross margin, backlog, customer concentration, cash, burn and debt are not publicly disclosed. | not publicly verifiable high | SRC-001SRC-002SRC-006 |
| EC-013 | Science faces competition across BCI, visual prosthesis, retinal therapy and neurotechnology markets. | partially verified medium | SRC-006SRC-008SRC-009 |
| EC-014 | Science acquired or welcomed Pixium Vision's PRIMA retinal prosthesis in 2024, creating IP and integration diligence needs. | partially verified medium | SRC-019 |
| EC-015 | Targeted public CourtListener searches did not identify clear material litigation for Science Corp, but results are inconclusive. | inconclusive low | SRC-017 |
| EC-016 | Public materials do not establish FDA approval or completed European approval for PRIMA as of the research date. | partially verified medium | SRC-008SRC-018SRC-006 |
| EC-017 | Public sources do not disclose pricing, reimbursement, customer contracts or revenue contribution for PRIMA or Foundry. | not publicly verifiable high | SRC-006SRC-008SRC-012 |
| EC-018 | Public evidence supports treating Science as active and private; no public IPO, acquisition or shutdown signal was found during research. | verified medium | SRC-001SRC-002SRC-006SRC-013 |
This report is a public-evidence diligence snapshot, not investment advice. Important financial, legal, technical, and contractual facts remain non-public and should be verified directly with management and primary documents before any investment decision.