Neuralink logo displayed on a phone screen, a silhouette of a paper in shape of a human face and a binary code displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on December 10, 2021. JAKUB PORZYCKI/BENZINGA
Elon Musk’s Neuralink will likely collect sizeable revenue from its N1 brain implant in out years, according to an analyst at Ark Investment Management.
If the N1 module and R1 surgical robot succeed in getting FDA approval for ALS, a neurodegenerative disorder that results in progressive degeneration of nerve cells in the spinal cord and brain, and cervical spinal cord injuries, there will likely be modest adoption by 2025, said Ark analyst Pierce Jamieson.
Neuralink’s N1 implant is cosmetically invisible and is intended to record and transmit brain signals wirelessly to an app that decodes movement intention. The R1 Robot will be used to surgically place the N1 Implant’s ultra-fine and flexible threads in a region of the brain that controls movement intention.
Annual revenue for N1 devices alone could surpass $220 million by 2030, Jamieson said, citing the firm’s preliminary research.
Neuralink is developing brain-machine interfaces BMIs, that link the human brain with computers and build on the works of other technologies like deep brain stimulation, electrocorticography, and machine learning, Jamieson said. “Neuralink has significant potential to transform medicine and accelerate the link between humans and artificial intelligence,” he said.
The company was founded in 2016 and its current CEO is Jared Birchall.
Rumors have emerged about Neuralink wanting to merge the technology with artificial intelligence.
The technology also could bypass spinal cord injuries and transmit brain signals directly to devices that help amputees regain mobility and control, the analyst said. Longer term, BMIs could treat ALS, Parkinson’s disease, epilepsy, sensory disorders, stroke-related brain injury, and many other conditions, he added.
In late May, Neuralink received FDA approval for commencing its first-in-human clinical trial.
The technology was previously tested on animals in order to experiment the technology by connecting it to the brain.
“I don’t know of a company that is working on a neusrlace,” said Musk back in 2016. “If you assume any advancement in AI, we will be left behind a lot.”
“We are excited to share that we have received the FDA’s approval to launch our first-in-human clinical study,” said Neuralink in an announcement on X, formerly known as Twitter. “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.”
Last month, the company said it had received approval from the independent institutional review board and its first hospital site to begin recruitment for the first-in-human study.
Produced in association with Benzinga
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