Paradromics’ Connexus Brain-Computer interface.
Courtesy: Paladromics
Texas-based Neurotech startup Paladromics announced its strategic partnership with Saudi Arabia’s Neom on Wednesday, saying it will establish a centre of excellence in the region.
Neom is a developing region in northwestern Saudi Arabia and, according to its website, is touted as a “hub of innovation.” The Neom Investment Fund, the region’s strategic investment arm, led the partnership. Paradromics refused to disclose the amount of investment.
Paradromics builds a computer interface or BCI for the brain. This is a system that deciphers brain signals and converts them into commands from external technology. The company will work with Neom to “develop BCI-based therapy” and establish “premier centres for BCI-based health care” in the Middle East and North Africa, the release said.
“We can work together to accelerate BCI innovation rates and expand access to impactful BCI-based therapies,” Paradromics CEO Matt Angle said in a statement.
Paradromics is one of several companies competing to commercialize BCI, including Elon Musk’s startup Neuralink. Earlier this month, Neuralink announced that it had implanted the technology in three human patients, according to a blog post. Precision Neuroscience, Jeff Bezos and Bill Gates-Backed Synchron also port the system to humans.
None of these companies have secured a final FDA approval stamp.
Paradromics’ BCI is the Connexus Brain-Computer interface, formerly known as the Connexus Direct Data Interface, and is an array of small electrodes designed to be implanted directly into brain tissue. This system ultimately helps severely paralytic patients regain their ability to communicate by deciphering neural signals.
The company is preparing to begin its first human trial this year, and announced its official patient registration in July. Paradromics’ technology has not yet been approved by the US Food and Drug Administration, but there is still a long way to go before its commercialization. In 2023, the company received the FDA’s breakthrough device designation. It is intended to help accelerate the process into the market.
Watch: Paradromics’ internal competitors of NeuralInk hopes to commercialize brain implants by the end of the decade
