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NEOM Investment Fund Partners with Paradromics

In a significant development for neurotechnology, NEOM Investment Fund has joined forces with Paradromics, Inc., a leader in high-data rate brain-computer interface (BCI) technology. This strategic partnership, announced on February 12, 2025, aims to reshape the landscape of healthcare by implementing advanced BCI therapies that assist individuals facing various neurological challenges.

NEOM, a groundbreaking sustainable project emerging in northwest Saudi Arabia, is spearheaded by its investment arm, NEOM Investment Fund (NIF). The collaboration focuses on developing therapies designed to restore, enhance, or even replace lost neurological functions, notably for those affected by speech impairments, paralysis, and cognitive disabilities. One of the pivotal aspects of this venture is establishing a Brain-Computer Interface Center of Excellence within NEOM, which aspires to set new standards in clinical research in the MENA region, and even worldwide.

Majid Mufti, CEO of NIF, expressed the organization's commitment to redefining healthcare's future through investments in transformative technologies. He highlighted the shared vision between NEOM and Paradromics, stating, "We are dedicated to pushing boundaries and addressing humanity's toughest challenges." The collaboration is grounded in Paradromics' cutting-edge advancements in BCI technology and their ambition to impact multiple industries fundamentally.

Paradromics, celebrated for its state-of-the-art BCI platform, has developed a solution that discreetly integrates with the user's body while simultaneously processing data in real-time. The device can capture brain signals with high accuracy, enabling the conversion of these signals into actionable health data via artificial intelligence (AI). Initially, Paradromics targets individuals with spinal cord injuries, stroke survivors, and ALS patients, providing them with new avenues for independent communication through digital platforms.

Matt Angle, Ph.D., the founder and CEO of Paradromics, emphasized the partnership's significance as a turning point for both entities and the BCI industry. He remarked, "NEOM and Paradromics share an expansive vision for the future of mental health, and together, we can hasten the pace of innovation in BCI while increasing access to life-changing therapies."

In addition to restoring communication, Paradromics envisions future applications to tackle mental health concerns such as mood disorders and chronic pain—which currently affect millions globally. Dr. Mahmoud AlYamany, head of NEOM's Health and Well-Being sector, heralded the partnership as a major leap forward in meeting the critical needs of those battling debilitating conditions. He noted, "This collaboration catalyzes innovative clinical research that offers hope for transformative solutions to individuals impacted by motor paralysis and communication barriers."

The investment in Paradromics forms part of NEOM Investment Fund's broader strategy to develop a comprehensive portfolio of disruptive technologies, facilitating NEOM's commercial success across various sectors. This collaboration is expected to create jobs and engage the investment community, emphasizing NEOM's commitment to revolutionizing industries through cutting-edge healthcare solutions.

As Paradromics continues to innovate with its promise of enhanced BCI technology, the partnership with NEOM marks a crucial step towards a future where neurotechnology not only improves lives but empowers those impacted by life's challenges. By merging their capabilities, both Paradromics and NEOM are poised to lead the charge in neurotechnology advancements that bring significant, positive changes to healthcare.

For up-to-date information on these ongoing developments, visit Paradromics' official website at www.paradromics.com.