Annual Implants Projected to Reach 20,000 by 2031
Neuralink Valued at Approximately $9 Billion
Neuralink, the brain neuroscience startup founded by Elon Musk, has announced that it will begin clinical trials to implant brain-computer interface (BCI) chips in the United Kingdom, following its trials in the United States. On July 31 (local time), Neuralink stated on its X (formerly Twitter) account that it would "begin clinical research in the UK" in collaboration with University College London Hospital and other institutions. Neuralink emphasized, "The launch of this research in the UK is based on the successful clinical trials in the US and marks an important step toward providing life-changing BCI technology to people suffering from neurological disorders worldwide."
Elon Musk's neuroscience startup Neuralink announced that it will begin clinical trials implanting brain-computer interface (BCI) chips in the UK, following the United States. Reuters·Yonhap News
Neuralink stated, "If you are experiencing paralysis due to a spinal cord injury or a disease such as ALS, you may be eligible to participate in this study," and provided a website for patient registration. Citing an announcement from University College London Hospital, Bloomberg reported that this clinical trial aims to evaluate the safety and functionality of the BCI device in up to seven patients with neurological disorders. Bloomberg also reported that at least nine people have undergone Neuralink chip implantation surgery so far. Clinical trials for the chip are currently underway not only in the United States and the United Kingdom, but also in Canada and the United Arab Emirates (UAE). In a recent report presented to investors, Neuralink projected that by 2031, it will implant BCI chips in 20,000 people annually and generate over $1 billion in annual revenue.
Annual Revenue Expected to Reach $1 Billion... Plans to Launch Three Types of Chips
Neuralink has been developing BCI chips with the goal of enabling people who are paralyzed due to accidents or illnesses to control various devices using only their thoughts via an implanted device in the brain. On July 25, Bloomberg, citing a recent report presented to investors, stated that Neuralink aims to achieve $1 billion (approximately 1.4 trillion KRW) in annual revenue by 2031 by developing three types of chips: the 'Telepathy' chip, which enables communication between the brain and computer devices; 'Deep,' aimed at treating Parkinson's disease; and 'Blindsight,' designed to restore vision.
Neuralink has been developing a brain-computer interface (BCI) chip with the goal of enabling people paralyzed by accidents or diseases to control various devices using only their thoughts through an implant in the brain. Photo by Reuters and Yonhap News
To realize these goals, Neuralink plans to operate five large-scale clinics and launch at least three types of BCI chips. Among the chips introduced in the report, the 'Telepathy' chip, as already known, enables communication between the brain and devices such as computers, while 'Blindsight' aims to restore vision for the visually impaired. The 'Deep' version is designed for the treatment of tremors and Parkinson's disease. Currently, 'Telepathy' is in the clinical trial phase, with fewer than ten patients having received the implant. The 'Blindsight' and 'Deep' versions have not yet been implanted in any patients.
In the report, Neuralink projected that it would obtain regulatory approval for the 'Telepathy' version from US authorities by 2029. If this occurs, the company expects to perform 2,000 surgeries annually and generate at least $100 million in revenue. Neuralink also expects to launch 'Blindsight' by 2030, perform 10,000 surgeries annually, and generate over $500 million in revenue. The company conservatively estimated the cost per surgery to be around $50,000.
BCI companies like Neuralink have attracted significant attention in recent years due to their potential applications in the medical field. However, US regulatory authorities have not approved any devices for permanent human use, and companies are still working to collect data to prove safety and efficacy. In current Neuralink clinical trials, patients with physical paralysis are able to use the implanted brain device to control computers, browse the internet, play games, and edit videos.
Neuralink is also testing vision restoration devices on monkeys. According to financial market information provider PitchBook, Neuralink secured an additional $650 million (approximately 900 billion KRW) in funding from several venture capital firms around June. At that time, the company's valuation was reported to be $9 billion (approximately 12.6 trillion KRW).
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