Precision Neuroscience’s brain-computer interface—a wireless device that aims to restore function to people with paralysis—is getting a boost from SCI Ventures. The fund is backed by the Christopher & Dana Reeve Foundation and other major spinal cord injury organizations.
The partnership, announced Wednesday, Nov. 5, gives Precision access to SCI Ventures vast network of patients, doctors and regulatory experts, all of which will accelerate Precision’s push to bring the device to patients with spinal cord injuries and neurological diseases like ALS and stroke, according to SCI and Precision.
Financial terms of the deal were not disclosed, but SCI Ventures founding Managing Director Adrien Cohen told Fierce Medtech SCI Ventures has made “a seven-figure” investment in the startup.
Precision’s Layer 7 cortical interface is a strip of flexible film that is one-fifth the thickness of a human hair. It packs 1,024 electrodes into a surface area about the size of a postage stamp and sits on the surface of the brain.
The technology, like other BCI systems, works by recording high-resolution brain signals and converting them into digital commands so a patient can operate computers, communicate with loved ones or control external devices. Precision’s device aims to eventually allow a paralyzed patient to control mobility devices or a robotic limb using only their thoughts.
It is delivered through a minimally invasive submillimeter incision in the skull and can be inserted and removed without damaging healthy tissue, according to the company.
Cohen founded SCI Ventures after his brother was paralyzed from the waist down in an accident. He said the fund is interested in partnering with startups developing BCIs because of their potential to restore “functional recovery” to individuals with spinal cord injuries, which affect more than 20 million people worldwide.
SCI Ventures was especially drawn to Precision’s BCI because it has been shown to offer a high level of functionality without the need for invasive surgery to penetrate the brain, Cohen said.
“They really stand out with this balance between invasiveness and functionality, and we know that is what our community really cares about,” he said.
Other SCI Ventures backers include Wings for Life, Spinal Research, Promobilia and the Shepherd Center, one of the nation’s largest spinal cord and brain injury rehabilitation centers.
Precision’s partnership with SCI Ventures comes during a busy year for the medical technology company. In April, Precision received FDA clearance for Layer 7, allowing for temporary use for up to 30 days.
The Fierce Medtech Fierce 15 winner has now tested its device in 58 patients, largely in a surgical setting, as the company works to collect data to support FDA approval for a long-term BCI system, Precision Chief Business Officer John Woock, Ph.D., said.
As Precision continues to move toward commercialization, Woock said having access to the SCI ecosystem will help the company incorporate patients' feedback into clinical studies and the final product’s design.
“This is a technology that we want to integrate into their daily life, and having that user feedback is extremely important,” Woock said.
Precision was co-founded in 2021 by its CEO Michael Mager and Benjamin Rapoport, M.D., Ph.D., a founding member of Elon Musk’s BCI startup Neuralink. In a statement, Mager said SCI Venture's support “gives us added momentum at a pivotal time for brain-computer interfaces.”
“People living with paralysis deserve solutions that are safe, effective and practical to deliver at scale,” he said. “With SCI Ventures as a partner we’re one step closer to bringing this transformative technology to those who need it.”