Bioworld Medtech - Exclusive Licensing Deal by Onward Medical for Brain-Computer Interface Technology

Tuesday, 15 October 2024, 16:41

Bioworld Medtech highlights Onward Medical's exclusive licensing deal for brain-computer interface (BCI) technology, potentially transforming spinal cord injury treatment. This strategic move signals a robust growth opportunity in the medtech sector, with industry experts estimating a $400B market potential. As Neurology and Psychiatric advancements continue, this partnership could reshape the future of medical interventions.
Bioworld
Bioworld Medtech - Exclusive Licensing Deal by Onward Medical for Brain-Computer Interface Technology

Exclusive Licensing Deal by Onward Medical

In a significant step within the bioworld medtech sector, Onward Medical NV has licensed a brain-computer interface (BCI) chip to enhance its innovations for treating spinal cord injury. This collaboration with France’s CEA-Clinatec underscores the urgent need for advanced neurological solutions.

Potential Growth in the Medtech Industry

This licensing agreement comes as Morgan Stanley predicts a remarkable $400B opportunity in medtech within the next decade. As companies like Neuralink Corp. and Synchron Inc. leap into the forefront, the demand for sophisticated BCI technologies is surging.

Further Implications for Neurology and Psychiatry

  • Advancements in neurology/psychiatric fields are crucial for patient recovery.
  • Collaborations in the EU market may lead to enhanced care standards.
  • This deal marks a pivotal shift in the landscape of medical devices.

As Onward Medical enters this partnership, the focus on research breakthroughs in BCI technology broadens the horizon for neurological treatments.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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