Precision Neuroscience Closes $250M to Advance Brain Interfaces
Precision Neuroscience raised $250M Series D led by Pershing Square to advance its less-invasive brain-computer interface technology.
The big picture: Precision Neuroscience, a medical device startup founded by a Neuralink alumnus, has closed an oversubscribed $250 million Series D round. The company’s Layer 7 implant, a film thinner than a human hair, rests on the brain’s surface rather than penetrating it.
Why it matters:
- Less Invasive: Precision’s approach offers a less invasive alternative to traditional brain implants, sliding into the skull through a sub-millimeter slit.
- Regulatory Advantage: The implant’s reversible nature has earned FDA clearance for up to 30 days of use, allowing for broader clinical testing.
- High-Profile Backing: The round was co-led by Bill Ackman’s Pershing Square, signaling significant investor confidence in the less-invasive BCI pathway.
How it works:
- Surface Interface: Unlike Neuralink’s electrodes that penetrate brain tissue, Precision’s Layer 7 Cortical Interface sits on the brain’s surface, minimizing surgical risk.
- Reversible Design: The implant’s design allows for easy removal, a key differentiator that has facilitated its use in over 100 procedures across 18 medical institutions.
- Clinical Network: Precision has established a clinical network, regulatory position, and manufacturing base, positioning it for leadership in the BCI field.
The catch: While Precision’s less-invasive approach has attracted significant investment and regulatory approval for short-term use, the long-term challenge remains securing FDA approval for permanent, fully implantable devices. The broader BCI market is crowded with competitors like Neuralink, Synchron, and Science Corporation, each pursuing different invasive or semi-invasive strategies, and patient adoption for long-term implants is an unproven variable.
Key Facts
- Company: Precision Neuroscience
- Amount: $250M
- Round: Series D
- Investors: Pershing Square Inc. and Ackman Oxman Institute (co-lead), Duquesne Family Office, ARK Invest, B Capital, Invus, Mubadala Capital, Mirae Asset Capital, Korea Investment Partners, Hitachi Ventures, JSL Health Capital, undisclosed life sciences fund
- Founders: Michael Mager, Benjamin Rapoport
- Valuation: $1,000,000,000
- Sector: Brain-Computer Interfaces
- Headquarters: New York, US