Precision Neuroscience Secures FDA Breakthrough Device Status and $140 Million Funding; Neurogene Faces Rett Syndrome Setback After $101 Million Fundraise

Precision Neuroscience has received FDA designation as a 'breakthrough device' and raised over $140 million in funding, according to CEO Michael Mager. The company aims to connect human intelligence with artificial intelligence, focusing initially on individuals with severe paralysis. In contrast, Neurogene has faced challenges following an adverse event related to its gene therapy for Rett syndrome, which has negatively impacted investor confidence. The company had recently completed a fundraising round but now faces scrutiny over the implications of the side effects observed in its clinical trials. Meanwhile, Trace Neuroscience has launched with $101 million to develop genomic therapies targeting neurodegenerative diseases, specifically aiming to restore healthy communication between nerves and muscle cells affected by conditions like ALS. Additionally, Physical Intelligence has raised $400 million to enhance robotic learning capabilities, signaling significant investment in innovative technologies within the neuroscience and robotics sectors.