NewLink Medical Completes Angel Funding Round to Advance Innovative Brain-Computer Interface Medical Devices

Neulink, a startup focusing on the development of innovative medical devices using brain-computer interface platform technology for medical rehabilitation, has recently completed an angel round of financing worth tens of millions of RMB, led by Guangzhou Redhill Equity Investment Management Co., Ltd. with participation from Cofoe.The completion of this round of financing indicates the medical investment community's recognition, support, and confidence in brain-computer interface technology, Neulink's core team, and product pipeline planning. This round of financing will mainly be used for Neulink's talent team building and product concept validation.

Neulink Chairman Cao Hongguang said: We are very grateful for the recognition and trust from Redhill Capital and Cofoe Medical Technology towards Neulink, which is extremely important for a startup company and also crucial for the development of brain-computer interface technology in the medical field. With the aging population and changes in lifestyle, more than 600,000 patients in China suffer irreversible blindness each year due to age-related macular degeneration, retinal diseases, and optic nerve damage. Among newborns, over 20,000 are affected by congenital deafness, while nearly 7 million elderly individuals experience hearing loss caused by age-related degenerative changes and auditory nerve damage. This not only severely impacts the quality of life for patients, causing immense physical and mental harm to both patients and their families, but also creates a significant social burden. Enabling patients to regain perception of the real world through brain-computer interface technology and achieve self-care is not only a blessing for patients and their families but also holds broad social significance. This round of financing will accelerate the implementation of brain-computer interface platform technology into practical products and further promote the development of this technology within the medical rehabilitation field.

Li Jie, Partner of Biomedical at Redhill Capital, stated: An increasing amount of clinical evidence shows that visual stimulation can help blind patients regain vision by directly stimulating the visual cortex, and auditory stimulation can help patients with auditory nerve damage regain hearing by stimulating the auditory nerve. However, there is an urgent need for an excellent team of medical device engineers to realize the above concepts. The past project experience of Cao Hongguang's team has fully demonstrated their engineering capabilities. We are looking forward to the company’s products being launched as soon as possible.

Xue Xiaoqiao, Director, Vice President, and Board Secretary of Cofoe Medical Technology Co., Ltd., statedNeulink's innovative R&D in the brain-computer interface field is remarkable. The treatment and rehabilitation of patients with vision and hearing loss based on brain-computer interface technology are of great significance. We look forward to Neulink continuously expanding the diversified applications of brain-computer interface technology in the medical rehabilitation field, achieving more breakthroughs and innovations in the brain-computer interface track, and contributing more to the technological innovation and development of the industry.

Neulink, founded in 2022, is headquartered in the Yangtze River Delta Intelligent Innovation Science Park (Wujiang District, Suzhou City) and has a research and development center in Shanghai. The company focuses on the development of brain-computer interface solutions for the rehabilitation of sensory loss. Neulink's core R&D products are bionic eyes and bionic ears based on brain-computer interface technology, designed to replace the sensory organs of patients who are completely blind or deaf. The company plans to continuously expand the application of brain-computer interface technology into other areas of medical rehabilitation. The core founding team has deep roots in the medical device industry, with strong academic backgrounds and resources, providing significant advantages from product development, production, clinical trials, to registration and certification.

Redhill Capital is a venture capital institution focused on the healthcare industry, systematically investing in innovative medical technologies including high-value consumables, in vitro diagnostic reagents, consumer healthcare, digital healthcare, as well as innovative drugs, biotechnology companies, and new healthcare services. Redhill Capital is committed to delivering excellent returns to investors and aims to leverage the power of capital to accelerate the research, development, and commercialization of modern medical and pharmaceutical technologies to improve the overall healthcare standards of the population. It strives to become a trusted, enduring, and outstanding healthcare fund management company.