Precision Neuroscience: Pioneering the Future of Brain-Computer Interfaces
December 17, 2024, 9:33 am
Location: United States, New York
Employees: 11-50
Founded date: 2021
Total raised: $143M
In the heart of New York City, a revolution is brewing. Precision Neuroscience, a brain-computer interface (BCI) company, has just secured $102 million in Series C funding. This significant investment brings its total funding to $155 million, solidifying its position as a leader in the BCI landscape. The company is on a mission to bridge the gap between human thought and digital devices, transforming the lives of those with severe disabilities.
Founded in 2021, Precision Neuroscience is led by a team of visionaries, including neurosurgeon-engineer Ben Rapoport, a former co-founder of Neuralink. Under the guidance of CEO Michael Mager, the company is developing a groundbreaking brain implant known as the Layer 7 Cortical Interface. This device is designed to conform to the brain's surface, allowing users to control digital devices through thought alone. Imagine a world where a simple thought can turn on a light or send a message. That world is closer than ever.
The recent funding round was spearheaded by General Equity Holdings, with notable participation from B Capital, Duquesne Family Office, and Steadview Capital. This influx of capital will enable Precision to expand its team, enhance clinical research, and refine its innovative brain implant. The implications are profound. This technology has the potential to redefine what it means to live with a disability, breaking down barriers to communication, employment, and independence.
Precision's journey has been marked by significant milestones. The company has successfully tested its device in 27 patients through partnerships with esteemed medical institutions, including Mount Sinai Health System and the University of Pennsylvania. These collaborations are vital, as they provide the clinical validation needed to ensure the safety and efficacy of the device. Furthermore, Precision has secured FDA Breakthrough Device designation, a crucial step in expediting the approval process for its technology.
The BCI market is gaining momentum. Morgan Stanley estimates it could reach $400 billion in the U.S. alone. Investors are increasingly recognizing the potential of BCI technology to revolutionize healthcare and beyond. Precision Neuroscience stands at the forefront of this movement, combining cutting-edge hardware and software to create a seamless connection between the brain and machines.
The Layer 7 Cortical Interface operates by recording brain signals through thin-film electrodes. These signals are processed by a unit placed between the scalp and skull, translating thoughts into actions on connected devices. This technology is not just about convenience; it represents a lifeline for individuals with paralysis and other neurological disorders. The ability to control devices with thought alone can restore autonomy and improve quality of life.
Precision's vision extends beyond motor paralysis. The company aims to address a range of neurological conditions, including obsessive-compulsive disorder and depression. By developing a product that is both safe and scalable, Precision hopes to provide solutions for millions of people suffering from debilitating disorders. The potential impact is staggering.
As Precision Neuroscience continues to innovate, it faces competition from other players in the BCI space. Neuralink, founded by Elon Musk, has raised over $685 million and is also working on similar technologies. Synchron, another competitor, has made headlines with its FDA-approved neuroprosthesis device, allowing patients to control digital devices using their thoughts. The race is on, and Precision is determined to lead the pack.
The company has also made strategic moves to bolster its operations. It recently acquired a state-of-the-art manufacturing facility in Texas, ensuring that it can produce its implants at scale. This facility will play a crucial role in meeting the growing demand for BCI technology as it moves closer to commercialization.
Precision's leadership team has expanded, bringing in experienced professionals from various fields. Former Verily co-founder Brian Otis has been appointed Chief Technology Officer, while Mike Kaswan takes on the role of Chief Financial Officer. Jayme Strauss joins as Chief Clinical and Commercial Officer. This diverse team is well-equipped to navigate the complexities of the BCI landscape and drive the company toward its ambitious goals.
The road ahead is filled with challenges, but the potential rewards are immense. Precision Neuroscience is not just developing a product; it is shaping the future of human-computer interaction. The ability to communicate and control devices through thought alone could transform the lives of millions. It is a bold vision, but one that is becoming increasingly attainable.
As the company forges ahead, it remains committed to its mission of improving the lives of those with neurological disorders. The journey is just beginning, and the possibilities are endless. Precision Neuroscience is poised to change the world, one thought at a time. The future is bright, and it is powered by the mind.
Founded in 2021, Precision Neuroscience is led by a team of visionaries, including neurosurgeon-engineer Ben Rapoport, a former co-founder of Neuralink. Under the guidance of CEO Michael Mager, the company is developing a groundbreaking brain implant known as the Layer 7 Cortical Interface. This device is designed to conform to the brain's surface, allowing users to control digital devices through thought alone. Imagine a world where a simple thought can turn on a light or send a message. That world is closer than ever.
The recent funding round was spearheaded by General Equity Holdings, with notable participation from B Capital, Duquesne Family Office, and Steadview Capital. This influx of capital will enable Precision to expand its team, enhance clinical research, and refine its innovative brain implant. The implications are profound. This technology has the potential to redefine what it means to live with a disability, breaking down barriers to communication, employment, and independence.
Precision's journey has been marked by significant milestones. The company has successfully tested its device in 27 patients through partnerships with esteemed medical institutions, including Mount Sinai Health System and the University of Pennsylvania. These collaborations are vital, as they provide the clinical validation needed to ensure the safety and efficacy of the device. Furthermore, Precision has secured FDA Breakthrough Device designation, a crucial step in expediting the approval process for its technology.
The BCI market is gaining momentum. Morgan Stanley estimates it could reach $400 billion in the U.S. alone. Investors are increasingly recognizing the potential of BCI technology to revolutionize healthcare and beyond. Precision Neuroscience stands at the forefront of this movement, combining cutting-edge hardware and software to create a seamless connection between the brain and machines.
The Layer 7 Cortical Interface operates by recording brain signals through thin-film electrodes. These signals are processed by a unit placed between the scalp and skull, translating thoughts into actions on connected devices. This technology is not just about convenience; it represents a lifeline for individuals with paralysis and other neurological disorders. The ability to control devices with thought alone can restore autonomy and improve quality of life.
Precision's vision extends beyond motor paralysis. The company aims to address a range of neurological conditions, including obsessive-compulsive disorder and depression. By developing a product that is both safe and scalable, Precision hopes to provide solutions for millions of people suffering from debilitating disorders. The potential impact is staggering.
As Precision Neuroscience continues to innovate, it faces competition from other players in the BCI space. Neuralink, founded by Elon Musk, has raised over $685 million and is also working on similar technologies. Synchron, another competitor, has made headlines with its FDA-approved neuroprosthesis device, allowing patients to control digital devices using their thoughts. The race is on, and Precision is determined to lead the pack.
The company has also made strategic moves to bolster its operations. It recently acquired a state-of-the-art manufacturing facility in Texas, ensuring that it can produce its implants at scale. This facility will play a crucial role in meeting the growing demand for BCI technology as it moves closer to commercialization.
Precision's leadership team has expanded, bringing in experienced professionals from various fields. Former Verily co-founder Brian Otis has been appointed Chief Technology Officer, while Mike Kaswan takes on the role of Chief Financial Officer. Jayme Strauss joins as Chief Clinical and Commercial Officer. This diverse team is well-equipped to navigate the complexities of the BCI landscape and drive the company toward its ambitious goals.
The road ahead is filled with challenges, but the potential rewards are immense. Precision Neuroscience is not just developing a product; it is shaping the future of human-computer interaction. The ability to communicate and control devices through thought alone could transform the lives of millions. It is a bold vision, but one that is becoming increasingly attainable.
As the company forges ahead, it remains committed to its mission of improving the lives of those with neurological disorders. The journey is just beginning, and the possibilities are endless. Precision Neuroscience is poised to change the world, one thought at a time. The future is bright, and it is powered by the mind.