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Biggest project to restore hair cells and ultimately hearing is probably this one: https://hearinghealthfoundation.org/hearing-restoration-proj...

It was shown in a couple of papers that we can restore hair cells in mammals. Damaged hair cells are the root cause for the majority of people with hearing loss & tinnitus. The most promising path seems to use so called supporting cells in the inner ear and convert them into hair cells. Researchers are getting closer and closer every year. I think we are now at a point where it's not a question of if but rather when.

Here is a quote from one of the leading scientist in the field:

What is needed to help make HRP goals happen? Frankly, funding to keep our research moving forward. A postdoctoral fellow with five to six years of training starts out on a modest salary of about $45,000, plus $12,000 in benefits. So that’s $57,000 before they even pick up a test tube in the lab. Each person will typically use between $15,000- $20,000 a year in supplies and chemicals. Simply maintaining a single cage of mice for one year costs $210, and my lab can use between 300-500 cages of mice for our experiments! HHF and its donors have been extremely generous in their support, however with additional funding the output from the consortium could be significantly greater and accelerate the pace to a cure.

Link: https://hearinghealthfoundation.org/spotlight/groves

Overall the field of hearing restoration still only receives tiny amounts of funding (<200 Mio). The research is in a vacuum phase. It's not proven out enough for Big Pharma to come. Relying on small government grants makes it difficult to get the research to a stage where it's attractive enough for Big Pharma.

Best bet at this point is probably when a former big tech executives would get hearing loss/tinnitus and then decides to put real money behind the problem. Bryan Johnson who created the Blueprint program has hearing loss but I guess he is not wealthy enough to make a difference.

EDIT (to put numbers into perspective):

The size of the problem: Sensorineural hearing loss disables over 360 million people worldwide. Irrespective of its cause and severity, hearing loss can have a large impact on people’s health and well-being. The treatment of hearing loss is currently limited to the use of hearing aids or devices surgically implanted in the middle or inner ear. These devices often perform poorly in noisy environments and can be very costly. It has been estimated that the costs of untreated hearing loss are €213 billion in Europe alone each year.

The funding (EU): An international consortium of 7 partners has been awarded a €5,8 million European Commission Horizon 2020 grant to develop and test a new drug to treat hearing loss caused by the loss of sensory hair cells.




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