Precision Neuroscience Raises $12 Million to Develop Next Generation Brain-Computer Interface Technology
Precision Neuroscience Corporation has raised $12 million in a Series A Financing led by Steadview Capital and B Capital Group’s Ascent Team. Precision Neuroscience is developing a platform for next generation brain-computer interface technology, with a focus on minimally invasive device delivery.
“Neural interfaces represent a frontier in medicine, biology, and computer science that will be as transformative for society as the genomics revolution,” commented Precision Neuroscience co-founder and Chief Science Officer Benjamin Rapoport, a neurosurgeon who holds a PhD in electrical engineering from MIT and has been developing brain-computer interfaces for more than 15 years. “We hope to unlock the potential of brain-computer interfaces with our ground breaking minimally invasive approach.”
Brain-computer interfaces represent a new paradigm in medicine and computing. Precision Neuroscience seeks to establish itself as a leader in this space globally. The core objective of the company is to deliver life-changing technology to millions of patients worldwide, and in doing so to transform the ways we interact with machines, one another, and our world.
Precision Neuroscience brings together an experienced team that has been developing brain-computer interfaces for nearly two decades. The company has a sizable and growing intellectual property portfolio and is developing an integrated system of electronics, software, and minimally invasive neural implants.
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Co-founder and CEO Michael Mager commented, “This is a very exciting time. Brain-computer interfaces hold the potential for groundbreaking advances in medicine. Our mission is squarely focused on delivering outstanding outcomes to patients. To that end, we are pursuing a staged approach to development, addressing illnesses that have large patient populations that are underserved by current medical technology. We are grateful for the support of our lead investors, Steadview Capital and B Capital’s Ascent Team, who share our belief in the long-term potential of this technology and our approach.”
The brain-computer interface industry is undergoing a period of rapid change, with recent advances in machine learning, chip design, and minimally invasive surgical approaches fueling increased interest and activity in the space.
Precision Neuroscience Corporation has offices in New York, California, and Massachusetts, and seeks to expand its team in each location.
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