Precision Neuroscience has closed an oversubscribed $250 million Series D financing round, bringing total capital raised since its 2021 founding to $430 million. The brain–computer interface (BCI) company plans to use the funding to expand its clinical program, advance its Layer 7™ Cortical Interface through further FDA review, and develop infrastructure for commercialization.
The financing follows more than 100 patient procedures involving Precision’s technology across 18 medical institutions. The company has also received FDA clearance for the Layer 7™ Cortical Interface, established a commercial partnership with Medtronic, and developed a wholly owned MEMS manufacturing facility in Texas.
“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.”
Precision’s clinical network includes the Perelman School of Medicine at the University of Pennsylvania, University of Chicago Medicine, Mount Sinai Health System and West Virginia University’s Rockefeller Neuroscience Institute.
The company has demonstrated high-resolution neural recording across 4,096 electrodes and real-time decoding of intended movement. Research involving Layer 7™ has also been published in Nature Biomedical Engineering, while work at the University of Pennsylvania has used high-resolution recordings from the interface to develop a refined map of the human motor cortex.
Precision has additionally partnered with Medtronic to integrate its technology with an established neurosurgical platform. Its Texas manufacturing facility gives the company end-to-end control over production of its electrode arrays.
The latest financing is intended to support Precision as it moves its BCI platform through additional regulatory and clinical stages while preparing the operational capabilities required for potential commercial deployment.
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