Precision Neurosciences, which specializes in brain-computer interface technology, raised $250 million in an oversubscribed Series D financing round.
To date, Precision has raised $430 million, which it has used to build what the company touts as the largest clinical footprint in the brain-computer interface (BCI) arena, having conducted more than 100 patient procedures in 18 medical institutions.
The company won FDA 510(k) approval in March 2025 for its Layer 7 cortical interface that records, monitors and stimulates brain electrical activity with a temporary implant for up to 30 days and was developed in partnership with Medtronic.
A recent study showed BCI training, which uses feedback from electrical activity in the brain, could be used to improve cognitive function in neuropsychiatric patients with Parkinson’s disease, multiple sclerosis, dementia and traumatic brain injury.
“The next phase of BCI will be defined by more than technology alone,” Michael Mager, co-founder and CEO of Precision, said in a statement. “We have built the clinical network, regulatory position and manufacturing base that leadership in this field requires (and) 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.”
The latest funding will be used to expand Precision’s clinical program and advance Layer 7 through the next stages of FDA review, as well as build infrastructure needed for commercialization.
The round was co-led by Pershing Square Inc., the Ackman Oxman Institute, and an undisclosed leading life sciences investment fund. Additional investors included the Duquesne Family Office, B Capital, ARK Invest, Invus, Mubadala Capital, Mirae Asset Capital, Korea Investment Partners, Hitachi Ventures and JSL Health Capital.
In March, China’s medical regulator approved a global-first commercial by green-lighting a brain-computer interface that features a system designed to help restore some hand movement to people with spinal cord injuries. The device was developed by Shanghai-based Neuracle Technology and includes implanted EEG electrodes linked to a pneumatic, robotic glove that can grasp objects. It was designed to by used by partially paralyzed adults who still retain some upper arm function.