Recently, Shanghai Ladder Medical Technology Co., Ltd. announced the completion of a Series B financing round of 350 million RMB, setting a record for the highest single-round financing in China's implantable brain-computer interface industry. This round of financing was co-led by Qiming Venture Partners, Aobo Capital, and Eli Lilly Asia Fund, with angel round investor Yuanlai Capital continuing to participate. The funds will be primarily directed towards advancing clinical trials, developing next-generation technologies, and constructing a medical-grade MEMS production base, thereby promoting the commercialization of brain-computer interface technology.
As one of the few companies in China focused on invasive brain-computer interfaces, Ladder Medical has developed an implantable system with a thickness of only 4 millimeters, which is a 50% reduction compared to the 8-millimeter devices from Neuralink, owned by Elon Musk. Its innovative design allows for implantation through a minimally invasive cranial puncture procedure of 3-5 millimeters, significantly reducing surgical risks by relying on established neurosurgical techniques. Currently, this system has passed the regulatory testing for medical devices, becoming the first high-throughput invasive brain-computer interface product in China that meets medical standards, primarily used for brain-controlled function restoration in patients with paralysis.
Global brain-computer interface technology is mainly categorized into three types: non-invasive, semi-invasive, and invasive. In contrast to the non-invasive approach chosen by most domestic companies, Ladder Medical and Neuralink are both in the more technically demanding invasive sector. Notably, domestic company NeuraMatrix secured hundreds of millions in Series A financing in 2022, and Borui Kang Medical Technology completed an undisclosed amount of Series D financing in November 2024, demonstrating the capital market's continued investment in high-end brain-computer interface technology.
According to Ladder Medical, the company has built a 2,000 square meter production facility and plans to establish the first medical-grade brain-computer interface MEMS production base in China by 2025, achieving a full-chain closed loop of "R&D - production - quality inspection." The completion of this base will fill a gap in high-end brain-computer interface manufacturing in the country and lay the foundation for large-scale clinical applications.
