Precision Neuroscience Corporation, a brain-computer interface (BCI) technology company, has raised $250 million in an oversubscribed Series D funding round to expand its clinical programs and advance its brain-computer interface technology toward commercialization.
The round was co-led by Pershing Square Inc., the Ackman Oxman Institute, and an undisclosed leading life sciences investment fund. Other investors include Duquesne Family Office, B Capital, ARK Invest, Invus, Mubadala Capital, Mirae Asset Capital, Korea Investment Partners, Hitachi Ventures and JSL Health Capital.
“The next phase of BCI will be defined by more than technology alone,” said Michael Mager, Precision’s co-founder and CEO. “We have built the clinical network, regulatory position, and manufacturing base that leadership in this field requires. We are also putting safety at the center of our product design, forming deep partnerships with the world’s leading neurosurgeons and academic medical centers, and building a company and a culture that we hope will endure. We’re proud to have investors who share that long-term vision.”
The latest financing brings Precision Neuroscience’s total funding raised since its founding in 2021 to $430 million.
Precision plans to use the new capital to expand its clinical programs, advance its Layer 7 Cortical Interface through further FDA review and build infrastructure for future commercialization.
“We have learned that the brain can recover from even catastrophic injury, and that there is far more that can be done for people living with neurological injuries,” said Bill Ackman, CEO of Pershing Square and co-founder of the Ackman Oxman Institute. “Neurotechnology will be central to the next generation of cures, treatments, and rehabilitation. It will also produce some of the most important and valuable companies of our time that will improve the lives of millions of people. Precision has the team, technology, and ambition to be a leader in BCI, and we are therefore delighted to invest in the company.”
The company says it has completed more than 100 patient procedures across 18 medical institutions. Its Layer 7 Cortical Interface has also received FDA clearance, while the company has demonstrated high-resolution neural recording across 4,096 electrodes and real-time decoding of intended movement.
Precision has partnered with Medtronic to integrate its BCI technology with an established neurosurgical platform. The company also operates a wholly owned MEMS manufacturing facility in Texas, giving it control over the production of its electrode arrays.
Founded in 2021, Precision Neuroscience is developing minimally invasive, removable and high-bandwidth brain-computer interface technology aimed at supporting new treatments and applications in neuroscience.
