Precision Neuroscience raises $250M Series D at just over $1B valuation

# What happened Precision Neuroscience announced a $250 million Series D round that values the company at just over $1 billion, according to reporting by The New York Times. The funding push brings the company's total capital raised to $430 million since its 2021 founding.

# Who backed the round The round was led by Pershing Square (Bill Ackman), the Ackman Oxman Institute, and an unnamed life sciences fund. Pershing Square and the Ackman Oxman Institute together invested $42.5 million. Other participants named include Duquesne Family Office, B Capital, ARK Invest, Invus, Mubadala Capital, Mirae Asset Capital, Korea Investment Partners, Hitachi Ventures, and JSL Health Capital.

# The technology

One of Precision's co-founders, Benjamin Rapoport, previously co-founded Neuralink. Precision manufactures its own electrode arrays in Texas and works with partners such as Medtronic.

# Regulatory and clinical status April 2025 for up to 30 days of use. Precision reports it has completed more than 100 procedures at 18 medical centers. The company says Layer 7 is part of a broader wireless implant system that remains under development.

CEO Michael Mager told the Times the newly raised funds will support efforts to pursue approval for permanent implants, but that regulatory and development timelines are likely to take years.

# Market context Investment into brain-computer interface (BCI) companies has accelerated: Neurofounders reported more than $2 billion flowing into BCI companies over the prior 18 months. Other milestones in the space include Paradromics placing a brain chip into a patient in June and China placing a commercial brain implant into a patient in July. Research groups, such as Feinstein Institutes, have also demonstrated restoration of movement and touch using implant-plus-AI approaches.

# What this round means in practice

• FDA clearance for short-term use already enables continued clinical studies and procedural experience across multiple centers, supporting data collection for longer-term device development.

# Bottom line Precision Neuroscience has secured substantial capital that should accelerate development and trials for a fully implantable BCI. The company's surface-layer approach offers an alternative safety and implantation profile compared with intracortical systems, but permanent approval and widespread clinical use remain multiyear objectives.