Neuralink Secures $650M Funding Round, Valuation Surpasses $10 Billion; Five Patients Implanted with Brain-Computer Interface

To date, five patients with severe paralysis have undergone implantation surgery for the Neuralink brain-computer interface device and are able to control digital and physical devices through thought alone.

On June 2 local time, Elon Musk’s brain-computer interface company Neuralink announced that its brain implant device has entered the clinical trial phase and raised $650 million in its latest round of financing.

Following the previous round of financing, Neuralink’s valuation had already reached $9 billion; after the latest financing, the company’s valuation will surpass $10 billion.

Neuralink stated that the lead investors in its latest funding round include ARK Invest, G42, Human Capital, Lightspeed, the Qatar Investment Authority (QIA), Sequoia Capital, and Thrive Capital.

Currently, brain-computer interface (BCI) devices in both China and the United States have entered the clinical stage. Mind-controlled devices (“brain control”) have already been realized, and in the future, BCI devices will further help patients restore language and visual functions.

Last year, Neuralink’s brain-computer interface device for visual restoration received the U.S. FDA’s “Breakthrough Device” designation; last month, the company’s brain-computer interface device for speech restoration received the same designation.

Neuralink Corp stated, “This new funding will help us extend our technology to more people, assist those with unmet medical needs in regaining independent living, and push the boundaries of brain-computer interfaces.”

Neuralink has launched clinical trials of its brain-computer interface devices in the United States, Canada, and the Middle East. By implanting a coin-sized chip into patients' brains, the device can process neural signals that can be transmitted to computers or mobile phones.

According to the company’s latest disclosed data, five patients with severe paralysis have undergone implantation surgery for Neuralink’s brain-computer interface (BCI) device and are able to control both digital and physical devices through thought. Neuralink launched a clinical study on human implantation of its BCI, named PRIME, in September 2023, with the first implantation procedure completed in January 2024.

In addition to Neuralink, other brain-computer interface (BCI) device developers are also accelerating clinical research on such devices. On June 2 (local time), U.S. startup Paradromics announced that it had completed the first human implantation of its BCI device, Connexus, last month. The first recipient was a patient undergoing neurosurgical treatment for epilepsy.

Paradromics stated that the first surgical case demonstrated that its brain-computer interface system can be safely implanted and record neural activity. The procedure was rapid, with both implantation and explantation completed in under 20 minutes.

The company also stated that, following regulatory approval, it plans to launch a formal clinical trial later this year to investigate the long-term safety and efficacy of brain-computer interface technology in humans. According to the company, the Connexus system will initially help patients with severe motor impairments, such as paralysis, to “speak” through computer devices.

In China, clinical research on brain-computer interfaces (BCIs) will also enter a pivotal year this year. At the recently held 20th Annual Meeting of the Asian Society of Neuro-Oncology, Professor Mao Ying, President of Huashan Hospital Affiliated to Fudan University, revealed that patient enrollment has commenced for a BCI clinical cohort study led by Shanghai Huashan Hospital and Beijing Xuanwu Hospital. The study aims to further verify key aspects of implantable BCI therapeutic protocols, including their efficacy and safety.

According to information disclosed by Professor Hong Bo of Tsinghua University to a Yicai reporter, relevant clinical trials for brain-computer interfaces will be conducted at 10 centers in China this year. The plan is to enroll 30 to 50 patients for implantation by the end of the year, with selected participants being those suffering from spinal cord injuries. Upon completion of these implantation surgeries, clinical data will be submitted to the drug regulatory authorities to apply for market approval of the related brain-computer interface products.

Responsible Editor: Liu Wanli SF014