Alumni Ventures Features Precision Neuroscience

Precision is designing a minimally invasive BCI that is safely removable and capable of processing large amounts of data, enabling breakthrough treatments for millions of people suffering from neurological illnesses. AV invested in Precision’s $41 million Series B led by Forepont Capital Partners, with participation from B Capital Group, Mubadala Capital, Draper Associates, re.Mind Capital, and Steadview Capital.

Co-founded by Mager and Chief Science Officer Dr. Ben Rapoport in 2021, Precision intends to bring high-bandwidth, non-damaging BCI systems out of academic labs and into patient care settings. Precision’s BCI technology is designed to assist individuals who cannot use their arms or hands due to paralysis from spinal cord injuries, ALS, or other neurological conditions. With a new FDA clearance expected within the next 12 months and a series of successful human implants, Precision is at the forefront of transforming lives through innovative medical devices.

“In today’s digital age, the ability to interact with computers is crucial for employment, communication, and staying connected,” explained Mager, who recently discussed his company on AV’s Tech Optimist podcast. “Our mission is to provide this capability to those who need it most, enhancing their independence and quality of life.”

Precision has successfully implanted its device in 17 patients across three major medical centers: West Virginia University’s Rockefeller Neuroscience Institute, Perelman School of Medicine (Penn Medicine), and Mount Sinai Health System in New York. The company’s Layer 7 cortical interface has broken the world record for the number of electrodes on a human brain at once, offering unprecedented resolution and functionality.

Precision is poised to receive its first FDA clearance via the 510(k) pathway, allowing for up to 30-day implants. This milestone will enable the company to commercialize its technology next year, significantly ahead of many competitors.

“Alumni Ventures is excited to support Precision as they leverage AI and advanced neurotechnology to transform lives,” said AV Managing Partner Ludwig Pierre Schulze, who hosted the conversation with Mager on AV’s Tech Optimist podcast. “Their innovative technology is improving the capabilities of patients without the invasive procedures required by legacy BCIs.”