Synchron raises $110 million for its brain computer, doesn’t see Elon Musk’s Neuralink as a competitor

Medtech company Synchron has just secured a massively oversubscribed $110 million Series C raise for its endovascular brain computer. While it could be considered a rival to Elon Musk’s Neuralink, co-founder Dr Nicholas Opie says they’re all just trying to help people.

The raise was led by ARCH Venture Partners, but also has a couple of big tech names attached through input from Bezos Expeditions and Microsoft’s Gates Frontier.

Synchron is helping people with paralysis communicate

Similar to Elon Musk’s Neuralink, Synchron has developed an endovascular brain computer. Synchron is currently largely focused on assisting people with paralysis so they can communicate through the stentrode to a computer.

This means they will be able to use an external computer and do things like write on a digital keyboard.

However, further down the track, the company is hoping that stimulating parts of the brain will allow patients to avoid invasive surgery such as craniotomies, which remove the scalp and some of the skull.

“We we’ve mitigated the risks associated with that procedure and are taking an endovascular approach,” Dr Opie said in an interview with SmartCompany.

“[We’re] using blood vessels to get to the same region of the brain, but without the trauma caused by you know, skull removal and so forth.”

Dr Opie says the device is able to help a plethora of people that have been impacted by paralysis for different reasons, including stroke, spinal cord injuries and motor neurone disease.

“They’re the main people we want to help through communication, mobility and independence; allowing them to be the best that they can be. That’s our first mission,” Dr Opie said.

Clinical trials and plans for the future

“And given that we can get into the brain in such a safe way, we also have the opportunity to do what some other companies are doing with deep brain stimulation to people with Epilepsy, Parkinson’s or other neurological conditions by delivering stimulation to the brain. For example, suppressing a seizure or tremor.” 

According to Synchron, the fresh cash injection will be used to accelerate product development as well as begin ‘pivotal’ clinical trials.

This comes after a successful clinical trial in Australia with four participants with motor neurone disease. All four were able to use the system to control a computer. Opie also confirmed that an early feasibility study has begun in the US which is reportedly going well.

While it is easy to compare Synchron with Elon Musk’s Neuralink chip, Opie doesn’t see the billionaire as ‘the competiton’.

“I think everyone in this space is working together towards the same goal, but with different solutions,” Opie said to SmartCompany. 

“So I don’t see it as a competitor. I see us both just trying to try to help people.”