Precision Neuroscience raises $250m at a $1bn valuation, NYT reports

Precision Neuroscience secured $250 million in a Series D round, valuing the company at just over $1 billion. The funding, led by Pershing Square, the Ackman Oxman Institute, and other investors, will support the company’s Layer 7 surface-brain-interface, which has FDA clearance for 30-day use and is moving toward permanent-implant approval. The firm has performed more than 100 procedures at 18 centers and partners with Medtronic while producing its own electrode arrays in Texas.