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| In May 2021, Precision Neuroscience raised a $12 million Series A funding round led by Steadview Capital.<ref>{{cite web|url=https://www.crunchbase.com/funding_round/precision-neuroscience-series-a--3f333708|title=Series A - Precision Neuroscience|publisher=]|accessdate=4 December 2023}}</ref> In January 2023, the company raised a $41 million Series B funding round led by Forepont Capital Partners.<ref name="Bloomberg"/> Other investors in Precision Neuroscience include B Capital, ], Draper Associates, Alumni Ventures, and re.Mind Capital.<ref name="TechCrunch"/> | In May 2021, Precision Neuroscience raised a $12 million Series A funding round led by Steadview Capital.<ref>{{cite web|url=https://www.crunchbase.com/funding_round/precision-neuroscience-series-a--3f333708|title=Series A - Precision Neuroscience|publisher=]|accessdate=4 December 2023}}</ref> In January 2023, the company raised a $41 million Series B funding round led by Forepont Capital Partners.<ref name="Bloomberg"/> Other investors in Precision Neuroscience include B Capital, ], Draper Associates, Alumni Ventures, and re.Mind Capital.<ref name="TechCrunch"/> | ||
| In October 2023, Precision Neuroscience acquired a microelectromechanical systems ] manufacturing facility near ].<ref name="CNBC"/> | In October 2023, Precision Neuroscience acquired a microelectromechanical systems ] manufacturing facility near ].<ref name="CNBC"/> | ||
| ==Technology== | |||
| The company is building a minimally invasive brain–computer interface.<ref name="Stat"/> The interface, called the Layer 7 Cortical Interface, makes contact with the brain surface using an thin electrode array that conforms to the surface of the brain without damaging brain tissue.<ref name="CNBC"/> The array is one-fifth the thickness of a human hair and contains 1,024 microelectrodes, yielding a spatial resolution hundreds of times higher than traditional electrode arrays. Together with customized supporting electronics and software, the device provides a high-resolution view of cortical activity in real-time.<ref name="TechCrunch"/> | |||
| In October 2023, the U.S. ] granted Precision Neuroscience’s system Breakthrough Device designation. As of 2023, Precision is in the process of applying for full FDA clearance for its first-generation product.<ref name="CNBC"/> | |||
| ==References== | ==References== | ||
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Precision Neuroscience is an American brain–computer interface (BCI) company based in New York City and with offices in Mountain View, California, Addison, Texas and Minneapolis, Minnesota.
The company is building a minimally invasive brain–computer interface. The interface is based on a thin-film microelectrode array that conforms to the brain surface without penetrating the tissue. It can collect hundreds of times more neural data than traditional cortical surface arrays. The procedure to implant the device does not require a craniotomy, and the implantation is designed to be reversible. Precision Neuroscience aims to treat neurological conditions such as spinal cord injury, stroke, neurodegenerative diseases such as ALS and traumatic brain injury.
History
Precision Neuroscience was founded by Benjamin Rapoport, Michael Mager, Demetrios Papageorgiou and Mark Hettick and was launched in 2021. Precision Neuroscience co-founder Benjamin Rapoport, MD, PhD, is a neurosurgeon in the Mount Sinai Health System in New York City, where he specializes in minimally invasive surgery. Rapoport received a PhD in electrical engineering and computer science from the Massachusetts Institute of Technology and a medical degree from Harvard Medical School. Rapoport was previously on the eight-member founding team at Elon Musk’s brain–computer interface company, Neuralink. Rapoport left Neuralink in 2018.
Rapoport, along with Michael Mager, an investor and business builder and a team of experts in areas such as neuroscience, microfabrication and software launched Precision Neuroscience in 2021. Rapoport is the founding Chief Science Officer at Precision Neuroscience. Mager is the founding Chief Executive Officer.
In May 2021, Precision Neuroscience raised a $12 million Series A funding round led by Steadview Capital. In January 2023, the company raised a $41 million Series B funding round led by Forepont Capital Partners. Other investors in Precision Neuroscience include B Capital, Mubadala Capital, Draper Associates, Alumni Ventures, and re.Mind Capital. In October 2023, Precision Neuroscience acquired a microelectromechanical systems MEMS manufacturing facility near Dallas, Texas.
Technology
The company is building a minimally invasive brain–computer interface. The interface, called the Layer 7 Cortical Interface, makes contact with the brain surface using an thin electrode array that conforms to the surface of the brain without damaging brain tissue. The array is one-fifth the thickness of a human hair and contains 1,024 microelectrodes, yielding a spatial resolution hundreds of times higher than traditional electrode arrays. Together with customized supporting electronics and software, the device provides a high-resolution view of cortical activity in real-time.
In October 2023, the U.S. Food and Drug Administration granted Precision Neuroscience’s system Breakthrough Device designation. As of 2023, Precision is in the process of applying for full FDA clearance for its first-generation product.
References
- Drew, Liam (23 February 2023). "Decoding the business of brain–computer interfaces". Nature Electronics. Retrieved 4 December 2023.
- ^ Welle, Elissa (25 July 2022). "Four brain-computer interface companies you should watch (other than Neuralink)". Stat News. Retrieved 4 December 2023.
- ^ Coldewey, Devin (31 January 2023). "Precision Neuroscience is making brain implants safer, smarter and reversible". TechCrunch. Retrieved 4 December 2023.
- ^ McBride, Sarah (25 January 2023). "Ex-Neuralink Executive Raises $41 Million for New Brain Startup". Bloomberg. Retrieved 4 December 2023.
- "Benjamin Rapoport". Mountsinai.org. Retrieved 4 December 2023.
- "Craig Mermel and Dan Trietsch Join Precision Neuroscience as Machine Learning and Software Leads". Business Insider. 30 March 2022. Retrieved 4 December 2023.
- ^ Capoot, Ashley (23 June 2023). "Neuralink competitor Precision Neuroscience conducts its first clinical study to map human brain signals". CNBC. Retrieved 4 December 2023.
- "Series A - Precision Neuroscience". CrunchBase. Retrieved 4 December 2023.