Neuralink, founded by billionaire Elon Musk in 2016, is in the business of brain chips. The company makes a device that is designed to be surgically inserted into an individual’s brain.
The goal is to help restore the mind-body connection in patients whose neurological pathways have been disrupted, such as paraplegics.
Despite the seeming invasiveness of the invention, the company has so far clocked plenty of interest from thousands of potential patients, according to a Bloomberg report.
This surge in interest comes months after Neuralink received approval from the U.S. Food and Drug Administration to conduct its first clinical trial on humans. The FDA approval came after it was announced in December last year that the company was facing a federal probe for violating the Animal Welfare Act after testing its device on animals, allegedly killing 1,500 of them during experiments since 2018, according to Reuters.
We are excited to share that we have received the FDA’s approval to launch our first-in-human clinical study!
— Neuralink (@neuralink) May 25, 2023
This is the result of incredible work by the Neuralink team in close collaboration with the FDA and represents an important first step that will one day allow our…
Neuralink is planning to conduct 11 surgeries next year, 27 in 2025 and 79 in 2026, Bloomberg reported. The company is estimating that each surgery will cost $10,500, charging insurers almost $40,000.
According to documents provided to investors, Neuralink has predicted that it will be seeing roughly $100 million in annual revenues within the next five years.
The surgery involves the removal of part of the patient’s skull, allowing a robot to then insert the Neuralink chip, which is roughly the size of a quarter. The device, which is made of electrodes that connect to the brain, can stay in a patient’s brain for years and will communicate brain activity to a computer or tablet.
The device can reportedly help individuals with certain disabilities such as paralysis or those with missing limbs communicate thoughts and control their prosthetics. Neuralink has also claimed that its device can help cognitive function, helping people to process information faster. The company has encouraged people over the age of 18 who have “quadriplegia, paraplegia, vision loss, hearing loss, the inability to speak, and/or major limb amputation” to apply to participate in the company’s upcoming human clinical trials.
Musk said in a post on X Nov. 7 that “Neuralink is working on a vision chip, which will be ready in a few years.”
“That is the next area after enabling phone/computer telepathy for those who have lost their mind-body connection. We're waiting for regulatory approval for our first human,” he said.
This is not much consolation, but Neuralink is working on a vision chip, which will be ready in a few years.
— Elon Musk (@elonmusk) November 7, 2023
That is the next area after enabling phone/computer telepathy for those who have lost their mind-body connection. We waiting for regulatory approval for our first human.
