Tesla CEO Elon Musk looks on as he visits the construction site of Tesla’s Gigafactory in Gruenheide near Berlin, Germany, May 17, 2021. Portal/Michele Tantussi
August 19 (Portal) – Elon Musk has approached brain chip implant developer Synchron Inc over a possible investment as his own company Neuralink is catching up in the race to directly connect the human brain to machines, according to four familiar with the matter Persons.
Musk has reached out to Synchron founder and CEO Thomas Oxley in recent weeks to discuss a potential deal, the sources said. It is not clear if any transaction would involve an association or collaboration between Synchron and Neuralink.
Synchron, which is based in the Brooklyn borough of New York, is ahead of Neuralink in gaining regulatory approval for its devices, the sources said. It has not yet decided whether it would accept an investment and no deal is certain, the sources added.
The sources asked for anonymity as the matter is confidential.
Musk and Neuralink representatives did not respond to requests for comment. A voice actor declined to comment.
The approach comes after Musk, who is also chief executive of electric-car maker Tesla Inc (TSLA.O) and rocket developer SpaceX, expressed frustration to Neuralink employees at their slow progress, four current and former employees said. That frustration wasn’t conveyed to Oxley when Musk reached out to him, two of the sources added.
It’s not clear where Neuralink stands in its application to the U.S. Food and Drug Administration (FDA) to begin human trials. An FDA spokesman did not immediately respond to a request for comment.
Musk said in a 2019 public presentation that Neuralink, which he launched in 2016, is targeting regulatory approval by the end of 2020. He then told a Wall Street Journal conference in late 2021 that he hoped to start human trials later this year.
Founded in 2016, Synchron has developed a brain implant that, unlike Neuralink’s product, would not require an incision in the skull to install. The aim is to help paralyzed patients operate digital devices with their minds alone.
Synchron passed an important milestone last month by implanting its device in a patient in the United States for the first time. It received FDA approval for human trials in 2021 and has completed trials in four people in Australia.
According to market research firm Pitchbook, Synchron has about 60 employees and has raised about $65 million from investors to date.
Neuralink is larger, with 300 employees spread across San Francisco and Austin, Texas. It has raised $363 million from investors so far, according to Pitchbook.
Only two of Neuralink’s eight founders have remained with the company — Musk and implant engineer Dongjin “DJ” Seo, who holds a leadership role. Max Hodak, who resigned as Neuralink’s president last year, is now an investor in Synchron. Continue reading
Musk has reached out to Neuralink’s competitors in the past. In 2020, he held talks with brain technology company Paradromics Inc., according to three people familiar with the matter. Musk then broke off those talks, two of those sources added.
(This story is refiled to remove the redundant “and” in paragraph 9.)
Reporting by Rachael Levy in Washington Editing by Greg Roumeliotis and Matthew Lewis
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