The 100 billion cells of the human brain are connected to thousands of other cells, creating more than 10 trillion connections. This complex network puts brain science at the last frontier of science.
In 1973, computer scientist Jacques Vidal proposed that electroencephalogram is a technique for tracking patterns in brain waves, allowing humans to control the ability of a device with only their minds. The concept of brain-computer interface (BCI) was born. In the following half century, brain-computer interface technology has developed rapidly under the exploration of scientists. In 2021, Neuralink, a brain-computer interface company founded by Musk, released a video of monkeys playing video games with their minds, which pushed brain-computer interface technology into the spotlight.
As a communication technology, brain-computer interfaces do not rely on any muscle or neuromuscular pathways, enabling electrical signals from neurons to be transmitted directly to external devices or systems (such as computers or robotic arms) to enable collaboration between the brain and the device. Therefore, in the medical field, brain-computer interfaces can enable paralyzed people to regain control of their limbs, complete a variety of daily activities such as moving objects, opening doors, typing, etc., and improve patients' motor ability and freedom of communication with the environment.
At present, many companies around the world have taken aim at this industry and are working hard to develop their own systems that allow neurological patients to use their brains to control computers.
Precision Neuroscience, one of many emerging companies in the brain-computer interface industry, was founded in New York in 2021 and is composed of scientists and engineers.
On January 25, 2023, Precision announced the completion of a $41 million Series B round led by Forepont Capital Partners and Mubadala Capital, Draper Associates, Alumni Ventures and re. Mind Capital and others followed.
In 2021, the company raised $12 million in Series A funding from Forepont Capital Partner and six other investors, including Steadview Capital and B Capital Group.
The new round of funding will accelerate Precision's refining of products, hire more staff, and speed up FDA regulatory review.
Without damaging any tissue, a thin film consisting of thousands of electrodes slipped into the brain surface through only a 1mm skull gap
The human cerebral cortex is made up of six cell layers, but Precision Neuroscience is working to build a device reminiscent of the brain's "seventh layer."
The device is called the Layer 7 Cortical Interface. As a brain implant, the device is designed to help paralyzed patients operate digital devices using neural signals. This means that patients with severe degenerative diseases such as ALS will regain the opportunity to communicate with friends and family by moving their cursors with their minds, typing and even visiting social media.
Layer 7 is a transparent tape-like flexible film about one-fifth the thickness of a human hair. The surgeon only needs to make a 1mm gap in the skull — so small that the patient doesn't even need to shave his hair for the surgery — and then implants the device on the surface of the brain, just like putting a letter in a letterbox. Thus, it can fit on the surface of the brain without damaging any tissue.
Compared to Neuralink's brain-computer interface devices, which still involve craniotomy and brain puncture electrodes, Layer 7 relies on a surgical technique that is less invasive.
Source: Precision Neuroscience
Layer 7 consists of more than 1,000 electrodes, 600 times denser than a standard cortical array, essentially tiled in one area of the brain, each of which will quickly and accurately provide images of the cortical region it covers. Therefore, unlike other minimally invasive methods, it can handle large amounts of data.
Not only can these electrodes collect brain signals, transmit them to a computer and convert them into code through machine learning algorithms, but the electrodes can emit pulses to stimulate specific areas of the brain to treat neurological disorders such as epilepsy and stroke.
The process is also reversible if a patient decides that they no longer need the implant or wants to update the device version, as Layer 7 is currently the only brain-computer interface implant that can be safely removed.
"The risk-reward of any procedure should be a fundamental consideration when you start thinking about rolling it out to a larger patient population," says founder Mager.
Because Layer 7 doesn't go directly into the brain tissue, the device's resolution of brain signals won't be as strong as some other brain-computer interface devices, but it's still much higher than the resolution obtained from the outside of the skull — to that point, there's plenty of room to play.
Currently, Precision has successfully used its Layer 7 to decode neural signals from animals, and Mager said he hopes to obtain FDA approval in the coming months to test the technology in humans.
Precision: An interdisciplinary team led by Musk's partners
Benjamin Rapoport co-founded Neuralink with Musk. After leaving Neuralink in 2018, Rapoport founded Precision Neuroscience with private equity investor Michael Mager.
Rapoport has a mixed academic background. He received his M.A. in Physics from Harvard University, M.S. in Mathematics from Oxford University, Ph.D. in Electrical Engineering and Computer Science from the Massachusetts Institute of Technology, and M.D. from Harvard Medical School. He also completed his neurosurgery residency, chief resident, and fellowship training in endovascular neurosurgery and endoscopic skull base surgery at New York-Presbyterian Hospital and Weill Cornell Medical Center.
As a neurosurgeon at the Skull Base Surgery Center, Rapoport specializes in minimally invasive, support-enabled surgery of the base of the skull and ventricular system, including endoscopic surgery for pituitary tumors and comprehensive treatment of hydrocephalus in adults.
Dr. Rapoport also serves as Scientific Director of Mount Sinai BioDesign, a medical device compound. The center aims to help doctors and researchers at Mount Sinai translate their research findings into commercial products and practical medical solutions, and to facilitate structured collaboration with the medical technology industry.
He also has a track record of technology translation in the field of digital health. In addition to Precision and Neuralink, he is a co-founder of Simbionics. The company has been acquired by Apple.
Image by Benjamin Rapoport: Webmd Doctor
Michael Mager has extensive experience in corporate finance and investment. He is also a board member of Supply Finance, a fintech platform, a partner at investment holding firm Ridge Road Partners, and co-chairman of Assembly Software, a manufacturer of legal practice and case management tools. In addition, Mager served as Executive Director of Ward Ferry Management, an investment firm.
"BCI isn't just about arrays, it's about software – the complexity of machine learning is a must to drive a truly powerful BCI. It's a full-stack product that requires an interdisciplinary team to develop," Mager said.
In March 2022, Craig Mermel, Ph.D. in Cancer Genomics, and Dan Trietsch, a software building block expert, joined Precision as President and Chief Product Officer and Chief Software Architect, respectively, filling the company's technology leadership roles. Previously, they had all developed health and fitness features for Apple.
Mermel is an expert in machine learning applications in healthcare, having led teams at Google exploring the use of artificial intelligence to diagnose and treat a variety of cancers and built machine learning tools for identifying key genes in cancer at the Broad Institute. Mermel and Rapoport met in the MD program at Harvard Medical School. In graduate school, they co-founded Simbionics, a company that develops health software for wearable technology. Trietsch was the first software engineer they hired.
The number of financing events has exploded, and neurotechnology at home and abroad will usher in a "watershed year"
According to WHO, hundreds of millions of people worldwide are affected by neurological disorders.
The prevalence of migraine worldwide exceeds 10%, more than 6 million people die from stroke each year, more than 50 million people have epilepsy and 47.5 million people with dementia, of which 60-70% have Alzheimer's disease. All of these diseases lead to damage to the structure and decreased function of the brain, which can lead to a decline in cognitive and memory function.
Brain-computer interfaces represent a new paradigm for the integration of neurology and information technology, which will potentially help these patients and humanity as a whole to transcend the limits of biology.
According to the market research report released by Contrive Datum Insights, the global brain-computer interface market was valued at $2.79 billion in 2022 and is expected to reach $9.31 billion by 2030, with a compound annual growth rate of 16.26% from 2023 to 2030. At the same time, 62% of its market size is occupied by medical applications.
Mager said that there has been a lot of positive momentum in the field of brain-computer interface in terms of investment and financing, and believes that this year will be a "watershed year" for neurotechnology.
According to PitchBook, the brain-computer field raised $274 million in 2022.
Neuralink, founded by Musk, has raised a total of $373 million since its inception in 2016, with the latest round closing on July 14, 2022.
Neuralink is now developing a coin-sized chip that will be implanted in the patient's brain, with extremely thin wires extending further into the brain. Because the chips and wires are so small, Neuralink is also developing a robot that implants chips into patients' brains in a manner similar to sewing machines.
In February 2022, Max Hodak, Neuralink's co-founder and former president, announced that he was acting as an advisor to Synchron and investing in it.
Founded in 2016, Synchron has developed a brain implant that helps paralyzed patients operate digital devices with their minds. Unlike Neuralink's products, this implant does not need to be cut into the skull, but through blood vessels into the brain.
In December 2022, Synchron announced the completion of a $75 million Series C funding round led by ARCH Venture Partners. According to VC News Daily, the total amount raised by Synchron has reached $145 million to date.
Interestingly, Musk himself is rumored to be considering investing in Synchron. In 2022, it was reported that it had met with Synchron CEO Dr. Thomas Oxley to discuss a potential deal. But neither the companies confirmed nor denied that speculation.
In contrast, the domestic brain-computer interface industry is still in its infancy.
According to data from the Eggshell Research Institute, the number of domestic industry financing events will explode in 2022, with 81% of companies in Series A and before.
In February 2022, Nuoer Medical NeuroEchos completed a series A financing of nearly 100 million yuan, and Zhongke Huayi completed a seed round of financing of 10 million yuan.
In May 2022, Medical Hangzhou Shuban Medical Technology Co., Ltd. completed tens of millions of yuan in financing.
In December 2022, Braintiger Technology and Ladder Medical successively completed a series A financing of hundreds of millions of yuan.
Although it started late, domestic brain-computer interface technology has developed rapidly and achieved eye-catching results.
As one of the earliest companies established in the domestic brain-computer interface industry, Bricon is in a global leading position in EEG signal acquisition, breaking the monopoly of imported products. In December 2022, Brighticon received hundreds of millions of yuan in Series C financing, which will promote the development and commercialization of its minimally invasive implantable brain-computer interface technology.
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