Rival of Elon Musk's Neuralink cleared by FDA for brain implants

The U.S. Food and Drug Administration has approved a core component of a neurotech brain implant system from a rival company to Elon Musk's.

CNBC reported that Precision Neuroscience announced on Thursday that the company has received approval for its brain-computer interface, or BCI, called the "Layer 7 Cortical Interface."

The brain chip translates neural signals into commands for external technologies.

The company's website states that its goal is to help patients with severe paralysis regain some functions of speech and movement.

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"Only part of Precision’s system was approved by the FDA on Thursday, but it marks the first full regulatory clearance granted to a company developing a wireless BCI," reported CNBC, citing a release from Precision.

Elon Musk's Neuralink wrote on its blog last May that it has struggled with some of the brain chip’s connective threads. The FDA has already cleared Neuralink to conduct trials. Neuralink has not received full regulatory approval to market its BCI system.

“This is a foundational moment for Precision,” said Dr. Benjamin Rapoport, Precision’s co-founder and chief science officer. Rapoport also co-founded Neuralink in 2017, but left the next year.

So far, Precision has temporarily implanted the "Layer 7" tech in 37 patients, the report said.

“This regulatory clearance will exponentially increase our access to diverse, high-quality data, which will help us to build BCI systems that work more effectively,” Rapoport said.

Read the full report here.