Investments in biotech and medical breakthrough discoveries have been popular over the past few years.

This month, Crunchbase published its selection of the 10 biggest deals of the week, and biotech startups took 6 out of 10 places.

Among them, the most significant fundings were: * ACELYRIN, a Los Angeles-based startup that recently raised a $300 million Series C led by Access Biotechnology * RayzeBio, a San Diego-based $160 million Series D financing co-led by Viking Global Investors, Sofinnova Investments, and Wellington Management. * Nimbus Therapeutics, a Massachusetts-based clinical-stage medicine developer, closed a $125 million private financing. Biotechnology studies the possibility of using living organisms or their metabolic products to solve specific technological/social problems, like: * Environmental pollution * Lack of fresh or purified water in third-world countries * Lack of sufficient medicine or technology to help people with special needs * A need for the production of new sustainable materials Scientists are sure that it is possible to solve these and many other problems with the help of biotechnology.

With the help of biotech, for example, there could be significant progress in the development of medicines and the modification or creation of new species of plants and animals, which increases the quality of food products.

On September 12, 2022, US President Joe Biden signed an executive order to support the development of biotechnology and biomanufacturing in the United States to reduce dependence on China. > "The global industry is on the verge of a revolution based on biotechnology. With the help of biotechnology, we can program microbes to produce special chemicals and compounds." > > Joe Biden > >the President of the United States The document includes the strategy to support bioengineering manufacturing systems to create a wide range of products and materials, from new drugs and human tissues to biofuels and food.

In this article, we will discuss a biotech startup developing today's most potent neural interface. So far, it has only been tested in rats and monkeys, but clinical trials in humans are planned for the near future.

We are talking about one of the most controversial Elon Musk projects – Neuralink. ## Neuralink Neuralink, founded in 2016, is developing a unique device that can transmit brain signals via Bluetooth. This will allow you to directly control a computer or smartphone using brain impulses.

Neuralinks' main product is a small chip called The Link, which can be implanted in a human brain and receive electrical activity from the neurons and decode it into a readable pattern.

The technology is still in the development phase and has a long way ahead to start mass production.

The company has recently stated that it is taking the first steps toward conducting human trials for its brain implant device.

In 2019, Neuralink held the first presentation of a neurochip - an interface between the brain and a computer. YOUTUBE=kPGa_FuGPIc The main task of Neuralink is to empower people, primarily those who suffer from neurological diseases. Musk says the device will help control hormones, cope with anxiety, and even make the brain work more efficiently.

Musk is betting that expanding the human brain's capabilities will allow it to cope with serious diseases and compete with artificial intelligence. ## Controversies A few days before the presentation, unexpected details appeared on the Web from one of the company's former employees. He spoke about the conflict between a group of scientists and engineers.

The main reason was Musk's demands to accelerate the deadlines for the project, despite all the restrictions. As a result, 6 out of 8 researchers left the project.

The situation escalated due to unsuccessful experiments on animals. Among them is the connection of 10,000 microelectrodes to the brain of a live sheep and an operation on a monkey's brain. Both experiments were carried out at significant risk to the subjects' lives.

In response, Neuralink posted a video in which the company showed the conditions of the animals and said that it takes care of them and complies with all requirements. YOUTUBE=gMCkMHbpPFA Notably, Neuralink has never received a citation from the USDA inspections of their facilities and animal care program. On April 9, 2021, Neuralink showed a video of a monkey playing a video game with a chip implanted in its brain: YOUTUBE=rsCul1sp4hQ For venture investors, Neuralink technology, is still in the early development stage and will take years for mass adoption. So to fuel the Brain-Machine Interface breakthrough, Elon Musk will have to raise capital in the next funding rounds.

In July 2021, the company held the $205M Series C funding round, led by Vy Capital, with participation from Google Ventures, DFJ Growth, Valor Equity Partners, Craft Ventures, Founders Fund, and Gigafund. ![](https://s.raison.ai/articles/32/public/img/fc1d4cb7.svg) Neuralink funding rounds. ## Elon Musk's other projects Elon is currently the wealthiest person in the world, surpassing Jeff Bezos with $270 billion in net worth. Most of Elon's wealth comes from Tesla, and since the pandemic, Tesla stock has increased by over 2500% due to high interest from retail investors, great performance, and a global trend for electric cars.
But Tesla is not the only company Elon Musk founded. You can find SpaceX, OpenAI, and The Boring Company, among other innovative projects.

So let's find out what each company is developing under the name of the most well-known innovator and disruptor in our Youtube video. YOUTUBE=E63CzqIy6F8

Investments in the Biotech industry in 2022

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