Precision Neuroscience closed a $250 million Series D at a $1 billion valuation, bringing total funding to $430 million. The round was co-led by Pershing Square, the Ackman Oxman Institute, and an unnamed life sciences fund.
Pershing Square and the institute contributed $42.5 million. Other investors included Duquesne Family Office, B Capital, ARK Invest, Invus, Mubadala Capital, Mirae Asset Capital, Korea Investment Partners, Hitachi Ventures and JSL Health Capital.
The capital raise hinges on a bet against Neuralink's invasive architecture. Precision's Layer 7 uses 1,024 electrodes on a thin film that rests on the brain's surface, avoiding direct tissue penetration. Surface implants carry lower infection and scarring risk, though internal electrodes can read single neurons — a capability some researchers argue yields superior signal fidelity. The tradeoff is existential: Precision is betting that reduced surgical risk and faster regulatory clearance matter more than marginal accuracy gains.
The FDA cleared Layer 7 in April 2025 for temporary use up to 30 days. Chief Executive Michael Mager told The New York Times the new capital will fund efforts to secure permanent implant approval, a process expected to span several years. "The next phase of BCI will be defined by more than technology alone," Mager said.
Precision has conducted over 100 procedures across 18 medical centers and partners with Medtronic for device integration. It manufactures electrode arrays in Texas and is preparing an early feasibility study targeting patients with severe paralysis.
Benjamin Rapoport, Precision's co-founder, also co-founded Neuralink. That shared lineage underscores the technological proximity between surface and invasive approaches—and the strategic divergence now playing out in capital allocation.
The BCI sector has absorbed over $2 billion in venture and institutional investment in the past 18 months. Paradromics implanted its first brain chip in a patient in June. Researchers at the Feinstein Institutes recently used an implant paired with AI to restore movement and touch in a paralyzed patient. China deployed its first commercial brain implant in July.
