NEOM, the sustainable region taking shape in northwest Saudi Arabia, has announced a strategic investment in US-based Paradromics, Inc., a global leader in high-data rate brain-computer interface (BCI) technology.
Led by NEOM’s strategic investment arm, NEOM Investment Fund (NIF), the partnership will advance the development of BCI-based therapies, which aim to restore, enhance or replace lost neurological functions for individuals with conditions that impair movement, communication or cognitive function.
As part of the agreement, a Brain-Computer Interface Centre of Excellence will be established within NEOM to spearhead ambitious clinical research and eventually serve as the premier centre for BCI-based healthcare in the MENA region and beyond.
Paradromics has developed the world’s most advanced BCI platform, engineered for longevity and real-time data processing. Paradromics BCI is concealed under the skin and seamlessly bridges the gap between the brain and digital devices. Using artificial intelligence (AI), the Paradromics BCI translates recorded brain signals into actionable health data.
Paradromics’ initial application focuses on restoring independent communication through digital devices for individuals living with spinal cord injuries, stroke, or ALS, a motor neuron disease. Paradromics is also developing future applications to enhance the treatment of mental health conditions, including mood disorders and chronic pain.
The partnership with Paradromics is part of a growing portfolio of disruptive technology investments by the NIF, underscoring its pivotal role in enabling NEOM’s commercial success by accelerating the growth of its 15 sectors, creating jobs and galvanizing the investment community.
