Billionaire Entrepreneur Elon Musk announced that his brain-chip startup, Neuralink, plans to conduct its first human trial later this year.
Speaking at the VivaTech event, recently in Paris, Musk revealed that the trial would involve implanting the brain chip in a tetraplegic or paraplegic patient. Although the exact number of patients and the duration of the trial were not specified, Musk expressed confidence that the first case would take place in the near future.
The U.S. Food and Drug Administration (FDA) approved Neuralink’s first-in-human clinical trial last month, marking a significant milestone for the firm. Even if the gadget is found to be safe in people, it could take several years, if not more than a decade, for Neuralink to obtain commercial usage permission. Other Neurotech businesses that have already implanted comparable devices in patients will compete with the startup.
Musk’s past projections concerning the advancement of Neuralink have not always been true. Since 2019, he has made several statements indicating that human trials will begin soon. The FDA first denied Neuralink’s application in 2022, citing various safety issues regarding the device’s battery, wire migration within the brain, and safe withdrawal without causing brain tissue damage.
Reuters had previously reported on concerns surrounding Neuralink’s animal experiments, including rushed surgeries and a higher number of animal deaths than necessary. Employees claimed that the pressure to obtain FDA approval led to these issues. U.S. lawmakers urged regulators to investigate potential financial conflicts on Neuralink’s animal testing oversight panel, while the Department of Transportation and the U.S. Department of Agriculture’s Office of Inspector General launched separate investigations into the company’s practices.
Despite these obstacles, Neuralink’s stock price has climbed significantly in recent months. Its value has risen from over $2 billion in a private financing round two years ago to around $5 billion based on recently performed privately executed stock trades. Some Neuralink employees who served on the animal board, which has come under criticism, have seen their stock holdings climb significantly in value in just two years.