Neuralink competitor Paradromics secures investment from NEOM

Texas-based neurotech startup Paradromics on Wednesday announced a strategic partnership with Saudi Arabia's NEOM and said it will establish a Brain-Computer Interface Center of Excellence in the region. NEOM is a developing area within northwest Saudi Arabia that's touted as "a hub for innovation," according to its website.

The area's strategic investment arm, the NEOM Investment Fund, led the partnership. Paradromics declined to disclose the investment amount. Paradromics is building a brain-computer interface, or a BCI, which is a system that deciphers brain signals and translates them into commands for external technologies. The company will work with NEOM to "advance the development of BCI-based therapies" and set up the "premier center for BCI-based healthcare" in the Middle East and North Africa, it said in a release and for some reason not beamed directly to our brains.

Paradromics' BCI, the Connexus Brain-Computer Interface , formerly known as the Connexus Direct Data Interface, is an array of tiny electrodes designed to be implanted directly into the brain tissue. The system could eventually help patients with severe paralysis regain their ability to communicate by deciphering their neural signals. 

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Farah - News Editor