NeuraLink: Revolutionising Neural Interfaces and Pioneering the Future of Brain-Computer Integration
Your Weekly Shortcut to Deeptech Investing—Exclusive Trends & Startup Reports for VCs & Angels in Just 5 Minutes
By Sarah Brunet Amouyal, Deeptech Expert
What is going on?
As the digital health sector mature from basic tracking apps into highly regulated medical devices, we are seeing bleeding edge technologies being developped that blur the lines between computers and biology. And a growing share of these start-ups are beginning to target the brain (in a previous article authored by David Levy, we discussed the aforementioned technologies).
One of them, Neuralink, which dominated international headlines for last week : Elon Musk's brain-chip firm says it has received approval from the US Food and Drugs Administration (FDA) to conduct its first tests on humans.
Announcing last month news on Twitter, Neuralink talked of an "important first step that will one day allow our technology to help many people".
What does it mean?
The Neuralink implant company wants to help restore vision and mobility to people by linking brains to computers, thanks to Artificial Intelligence. Neuralink hopes to use its microchips to treat conditions such as paralysis and blindness, and to help certain disabled people use computers and mobile technology.
The chips - which have been tested in monkeys - are designed to interpret signals produced in the brain and relay information to devices via Bluetooth. Experts have cautioned that Neuralink's brain implants will require extensive testing to overcome technical and ethical challenges if they are to become widely available.
The approval was "the result of incredible work by the Neuralink team in close collaboration with the FDA", it said. The firm promised more information "soon" on plans to sign up trial participants and that "safety, accessibility and reliability" are all priorities during its engineering process.
The company - which was co-founded by Mr Musk in 2016 - has repeatedly overestimated the speed at which it can execute its plans. Its initial aim was to start planting chips in human brains in 2020, in order to honour a pledge made the year before. It later vowed to get started in 2022. Currently, its total disclosed funding is evaluated to $363M.
Neuralink is not the sole start-up aiming to revolutionize neuroscience through the use of AI and technology. Explore below the neurotechnology market and discover other disruptive start-ups in the field.
Why does it matter?
💸For markets: advancements in various scientific and technological fields have led to the growth and maturation of the neurotechnology industry.
According to Precedence Research, the global neurotechnology market size was evaluated at USD 12.82 billion in 2022 and is projected to hit around USD 38.17 billion by 2032, growing at a CAGR of 11.53% during the forecast period 2023 to 2032.
Neurotechnology has grown and matured as an industry as a result of advances in several fields of science and technology, including neuroscience, electrical stimulation, biomaterials, and microelectronics. MEMS technology will have a positive impact on the development of neurotechnology devices.
Neurotechnology products and services will experience considerable growth in the worldwide healthcare market in large part because of the continued growth and identification of neurological disorders and conditions.
Carbon nanotubes and other advances in nanotechnology will confer new capabilities on neuromodulation products. New polymeric biomaterials are promising to enhance the functionality of existing neural interfaces, which are largely based on metals.
Neural/silicon hybrid chips have the potential for dramatically expanding the rate and the quality of information exchange between a computer and human. These devices initially will have application as improved forms of electrodes built with intelligent microelectronic hardware rather than passive devices. Ultimately they offer the potential for greatly enhanced neural prostheses and brain-computer interfaces.
🧑🏿🤝🧑🏻For society: the leading neurotech start-ups dedicated to enhancing the quality of life for patients.
We’ve rounded up 12 Neurotech start-ups that are accelerating the growth in this space and are improving neurohealth for patients :
1. SynCath™ NeuroScience: it’s a preclinical-stage medical technology start-up in Israel developing ECG-synchronized dynamic ICP-modulation technology. This technology is realized via a disposable, autonomous ICP-modulation probe. The probe is in-dwelling, ECG synchronized, and delivered via an external ventricular drain (EVD)-like catheter. SynCath will initially adress patients instrumented with an EVD. Total disclosed funding : $920M.
2. EyeMind: this israeli company is revolutionizing ADHD (Attention-Deficit / Hyperactivity Disorder) diagnosis using virtual reality and AI algorithms. ADHD is the most common mental condition in children in worldwide. Many of them are misdiagnosed or mistreated due to insufficient diagnosis and monitoring. Total disclosed funding : $905M.
3. NeuroPace: this company is working to develop medical device, the RNS® System : it helps reduce epileptic seizures, a condition which affects 1.2% of the US population, according to the CDC. It’s an electrostimulation device that is surgically implanted by a neurosurgeon into a patient’s brain, which allow to reduce the incidence of epilectic seizures by 90% in roughly one-third of clinical trial participants. Total disclosed funding : $208M.
4. MicroTransponder: it’s a US based company, and develops and sells neurostimulation devices and therapies to treat neurological conditions, like chronic pain, limb mobility for instance. Total disclosed funding : $115M
5. Kernel: founded by Bryan Johnson (founder of the online payment company Braintree® and the OS fund). It’s an early stage brain machine interface company. At first, this company intended to build memory prostheses. Now, it has pivoted and is working on a way to measure and stimulate the electrical impulses of many neurons at once. This technology could be used to care depression or Alzheimer’s disease. Total disclosed funding : $100M.
6. Bioserenity: a medtech French start-up which manufactures wearable devices. One of those devices is an EEG system, that’s capable of acquiring physiological signals. BioSerenity’s aim is to use the data collected using their device to accelerate research of epilepsy. More than 500 employees across 3 continents. Total disclosed funding : $87.9M.
7. BrainQ: BrainQ, an israeli start-up has produced a platform that identifies neural networl damage through motor stimulation sensors. Notably, the platform uses machine learning that adapts to the recovery progress of the patient, creating a personalized treatment plan for each individual. BrainQ currently works with Google’s AI accelerator. Total disclosed funding : $40M.
8. Braingineers International: this company is building the worlds first emotion analytics plateform, using EEG and eye tracking to measure differents emotions during website visits, they are abble to detect subconscious bottlenecks in the online user experience. Total disclosed funding : $24.1M.
9. Flow Neuroscience: this company has developed a headset, that delivers transcranial direct current stimulation (tDCS) , which allow to treat depression. The device pairs with a smartphone app that guides the user through a 6-week wellness program. The FDA has just approved Flow’s headset for commercial sale in the US, it will be the first tDCS product for the treatment of depression without prescription or the supervision of a doctor. Total disclosed funding : $12.6M.
10. Synchron: Synchron’s founder and CEO, Dr Thomas Oxley was named the 2018 advance life Sciences Award Winner for his work. He’s developing an implantable device, the Stentrode, that aims to provide a safe way for paralyzed patients to achieve brain control of mobility-assistive devices. The company is currently preparing for early-stage clinical trials to evaluate safety and feasibility of the device to enable patients-directed brain control. Total disclosed funding : $10M.
11. BrainCo: this company specializes in brain-machine interface technology. Among their different brands of neurotech, there is a wearable device designed to reduce stress with neurofeedback. In 2019, BrainCo won the Brave Awards for the Best AI application in Health in Fitness. Total disclosed funding : $6M.
12. Q30 Innovations: Q30 Innovations is developing a technology which claims to reduce traumatic brain injury. Targeting athletes and military personnel, the company’s main product is the Q-Collar®, a wearable device designed to cushion the brain by increasing blood flow. This product is already approved in Canada since 2017. Total disclosed funding : $4.85M.
🔮What’s next?
There are many exciting neurotechnology start-ups that are driving innovation in the field. Each of these companies is working on unique technologies and applications, aiming to make a significant impact in areas such as brain-machine interfaces, neuroimaging, diagnostics, and neurorehabilitation.
The field of neurotechnology is rapidly evolving, and several exciting advancements are on the horizon. While the future is inherently uncertain, here are some potential directions and developments we may see in neurotechnology:
Miniaturization and Wearability: One direction for neurotechnology is the continued miniaturization of devices and the development of wearable solutions. Smaller, more discreet neurodevices could be integrated into everyday objects.
Closed-Loop Systems: Closed-loop systems, also known as responsive neurostimulation, involve real-time monitoring of brain activity and delivering targeted interventions based on the detected neural patterns. These systems could enable personalized treatment approaches for neurological disorders, with interventions precisely timed and tailored to an individual's specific needs.
Neural Tissue Engineering: Advances in tissue engineering and regenerative medicine may lead to the development of implantable neural tissue constructs. These constructs could help repair damaged neural circuits, restore functionality, and promote neural regeneration in cases of injury or degenerative disorders.
Neurofeedback for Cognitive Enhancement: Neurofeedback techniques, which involve training individuals to self-regulate their brain activity, may find applications in cognitive enhancement.
Brain-inspired AI and Computing: Neurotechnology can inspire the development of brain-inspired artificial intelligence (AI) algorithms and computing architectures. Neuromorphic computing, which emulates the structure and functioning of the human brain, holds promise for enabling more efficient and powerful AI systems.
Optogenetics and Chemical Neuromodulation: Optogenetics, a technique that uses light to control specific neurons genetically modified to be light-sensitive, could play a significant role in advancing neurotechnology. Combining optogenetics with other forms of neuromodulation, such as chemical methods, could provide more precise and targeted ways to modulate neural activity and treat neurological disorders.
Ethical and Regulatory Considerations: As neurotechnology advances, it will be crucial to address ethical, legal, and regulatory considerations. Issues related to privacy, data security, informed consent, and equitable access to neurotechnological interventions will require careful consideration to ensure responsible development and use of these technologies.
It's important to note that these potential advancements represent ongoing areas of research and development. The field of neurotechnology is rapidly evolving, and new breakthroughs and unexpected discoveries may shape its future in ways we cannot fully anticipate.
✨ That’s all for today. Thanks for reading !
💖Like, follow and subscribe to our Community ! Stay tuned for our next article coming up next week with our Deeptech Insights Newsletter.
Much love Deeptechers!👋
🤔 Did we miss something? Write us BELOW or directly at info@deeptechcommunity.com.