Precision Neuroscience Raises $250M, Tops $1 Billion Valuation

Precision Neuroscience closed an oversubscribed $250 million Series D on Thursday, co-led by Bill Ackman's Pershing Square Inc., the Ackman Oxman Institute and an unnamed life-sciences investment fund. The round values the brain-computer interface company at just over $1 billion, The Next Web reported, citing reporting by The New York Times. Precision's own announcement did not state a valuation.

Michael Mager, Precision's co-founder and chief executive, said in the company's statement that "the next phase of BCI will be defined by more than technology alone," pointing to the clinical network, regulatory record and manufacturing base the company has built since its 2021 founding. Ackman, Pershing Square's chief executive, said "neurotechnology will be central to the next generation of cures, treatments, and rehabilitation."

What $42.5 million of Ackman's money actually bought

Pershing Square and the Ackman Oxman Institute, which carries Ackman's name, contributed $42.5 million of the $250 million total, according to The Next Web's account of the Times report, a combined 17 percent of the round despite leading the announcement. Precision's release does not break out individual investor checks, so the remaining $207.5 million is split among an unnamed life-sciences fund plus Duquesne Family Office, B Capital, ARK Invest, Invus, Mubadala Capital, Mirae Asset Capital, Korea Investment Partners, Hitachi Ventures and JSL Health Capital, none of which the company identified as the lead beyond Pershing Square and the institute.

Figure	Amount	Date
Total raised since 2021	$430 million	through Sept. 24, 2026
Series D round	$250 million	Sept. 24, 2026
Pershing Square + Ackman Oxman Institute portion	$42.5 million	Sept. 24, 2026

The clearance covers 30 days, not a permanent implant

Precision's release says only that it "received FDA clearance for the Layer 7 Cortical Interface," without stating a duration. The Next Web reported that the FDA actually cleared Layer 7 in April 2025 for up to 30 days of use, a temporary authorization rather than a permanent-implant approval. The two sources also disagree on the device's scale: Precision's own release describes "high-resolution neural recording across 4,096 electrodes," while The Next Web put the figure at 1,024. Neither Precision nor The Next Web's sourcing resolves the gap.

The company said it has completed more than 100 patient procedures across 18 medical institutions, including the University of Pennsylvania, University of Chicago Medicine and Mount Sinai Health System, and has a commercial partnership with Medtronic plus a wholly owned electrode-manufacturing plant in Texas. Dr. John Donoghue, a 2026 Queen Elizabeth Prize laureate, joined as scientific advisor.

Where Precision sits against Neuralink and Paradromics

Precision's pitch rests on being less invasive than Neuralink, whose electrodes sit inside brain tissue rather than on its surface, according to The Next Web. Competitor Paradromics placed its first clinical implant in June 2026. The Next Web put total investment into brain-computer interface companies at more than $2 billion over the past 18 months, a run of capital comparable in speed to the $77 million Series B closed by AI-agent startup Ema in a very different vertical this quarter.

Precision has not said when Layer 7 might seek clearance for use beyond 30 days, the step that would let it compete for a permanent-implant market rather than a temporary one. That kind of regulatory sign-off, rather than the funding total, is the same category of hurdle behind Agility's Digit 5 Builds on a Passed OSHA Safety Test. Until Precision's next filing appears, the $1 billion figure prices a device cleared for a single month of use at a time.