Precision Neuroscience Raises $250m at $1bn Valuation, NYT Reports
Precision Neuroscience has raised $250 million in a Series D round, led by Bill Ackman's Pershing Square, the Ackman Oxman Institute, and an unnamed life sciences fund. The round values the brain implant maker at just over $1 billion, according to The New York Times. This brings Precision's total funding to $430 million since its inception in 2021.
Ackman’s First Bet
Bill Ackman founded the Ackman Oxman Institute with his wife, Neri Oxman, a brain research center in Manhattan. Precision is the institute's first investment. Ackman cited Precision's less invasive approach as a key factor in his decision.
“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 Ackman in a company statement.
Investment Details
Other investors in the round include Duquesne Family Office, B Capital, ARK Invest, Invus, Mubadala Capital, Mirae Asset Capital, Korea Investment Partners, Hitachi Ventures, and JSL Health Capital.
Technology Comparison
Precision’s Layer 7 is a thin film with 1,024 electrodes that sits on the surface of the brain, contrasting Neuralink's electrodes placed inside brain tissue. Surface devices are seen as carrying less risk of infection or scarring, although implants inside the brain can read single neurons, potentially increasing accuracy.
Regulatory Clearance and Future Plans
Layer 7 received FDA clearance in April 2025 for up to 30 days of use. Precision aims to use the new funding to advance development towards permanent implants, according to CEO Michael Mager.
"The next phase of BCI will be defined by more than technology alone," said Mager.
A Crowded Field
More than $2 billion has been invested in brain-computer interface companies over the past 18 months. Competitors include Paradromics and Chinese firms testing commercial brain implants. Researchers at Feinstein Institutes have used an implant and AI to restore movement and touch to a paralyzed man.