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

The deal marks the first outside bet by Bill Ackman's new brain-research institute in a widening billionaire race to fund neural implants.

• Precision Neuroscience closed an oversubscribed $250M Series D co-led by Pershing Square Inc., the Ackman Oxman Institute, and an undisclosed life sciences fund, valuing the brain-computer interface company at just over $1 billion.
• Founded in 2021, Precision builds Layer 7, an FDA-cleared cortical interface that rests on the brain's surface rather than penetrating tissue, aiming for a less invasive alternative to implanted probes.
• Pershing Square and the Ackman Oxman Institute together contributed $42.5M of the $250M round, according to the New York Times.
• Layer 7 is a thin film carrying 1,024 electrodes on the brain's surface, unlike Neuralink's electrodes that penetrate tissue; surface designs cut infection and scarring risk but read less precise single-neuron signals.
• Precision co-founder Benjamin Rapoport also co-founded Neuralink, underscoring how the BCI field's leading rivals share common technical roots.
• The round brings Precision's total capital raised to $430M since 2021, following more than 100 patient procedures across 18 medical institutions and a commercial partnership with Medtronic.
• A syndicate spanning sovereign wealth funds, family offices, and public-market investors backing a single BCI startup signals the category is graduating from experimental biotech to infrastructure-scale capital.
• Precision says it will use the new funds to expand its clinical program, push Layer 7 through further FDA review, and build out commercialization infrastructure.