Colaeb
Precision Neuroscience Raises $250M Series D for Its Brain-Computer Interface
Bill Ackman's Pershing Square leads the round as the FDA-cleared Layer 7 interface passes 100 patient procedures.
Precision Neuroscience, the New York company building a brain-computer interface that sits on the surface of the brain rather than inside it, has closed an oversubscribed $250 million Series D. The round was led by Pershing Square, the Ackman Oxman Institute and a life sciences fund that was not named.
Duquesne Family Office, B Capital, ARK Invest, Invus, Mubadala Capital, Mirae Asset Capital, Korea Investment Partners, Hitachi Ventures and JSL Health Capital also participated. The company has now raised $430 million in total.
A Thinner Interface
Precision's Layer 7 Cortical Interface is a film thinner than a human hair that carries 4,096 electrodes and rests on the surface of the cortex. Unlike systems that push electrodes into brain tissue, it is designed to be minimally invasive and removable.
The company has received FDA clearance for the Layer 7 Cortical Interface and has a commercial partnership with Medtronic.
Clinical Footprint
Precision says it has completed more than 100 patient procedures and built a clinical network spanning 18 major medical institutions. In those procedures it has demonstrated high-resolution neural recording and real-time decoding of intended movement.
"We have built the clinical network, regulatory position, and manufacturing base that leadership in this field requires," said co-founder and CEO Michael Mager.
Why Ackman Is In
The round marks an unusual bet for Pershing Square, better known for activist positions in public companies than for medical device startups.
"Precision has the team, technology, and ambition to be a leader in BCI," said Pershing Square CEO Bill Ackman.
MassDevice also covered the raise, which lands as brain-computer interface companies move from research demonstrations toward regulated commercial products.
Where the Money Goes
Precision plans to expand its clinical program, advance Layer 7 through the next stages of FDA review and build out commercialization infrastructure.
The category's best-known name is Neuralink, whose implant places electrodes into brain tissue. Precision's pitch is that a removable surface device carries less risk and can reach patients sooner, even if it records from a smaller depth of the brain.
With FDA clearance, a Medtronic partnership and $430 million raised, the company is now positioned to test whether that trade-off wins in the market.