Ruiyi Xulian Secures Nearly RMB 100 Million in Pre-A Funding to Accelerate Clinical Development of Implantable Bidirectional Brain-Computer Interface

Intellizon Medical recently announced the completion of a nearly 100-million-yuan Pre-A round of financing. This round was jointly led by Noyou Capital and Well Lead Medical, with participation from Chuchang Fund and Oak Investment. Existing shareholders, StarVest Partners and Suzhou Venture Capital - Angel Mother Fund, also increased their investments, while Wasp Capital served as the exclusive financial advisor.

The funds raised this time will focus on the industrialization and implementation of the company's implantable bidirectional brain-computer interface full-stack technology, promoting the scaled production and clinical validation progress of "brain-spinal interface" related application scenarios; relying on the existing brain-computer interface technology platform, comprehensively expanding commercial possibilities in more vertical fields; and further consolidating the market expansion and commercial operation capabilities of already certified and marketed products.

Intellizon Medical Ltd. was founded in March 2024 in Huqiu District, Suzhou, China, focusing on innovative diagnosis and treatment of major brain diseases, primarily targeting implantable bidirectional brain-computer interface technology. The company has established a complete proprietary technology system covering core chips, precision sensors, advanced packaging processes, and underlying algorithms. Centered on the "implantable high-throughput bidirectional brain-computer interface" platform, it continues to develop diversified clinical application scenarios.

Among numerous development directions, the "brain-spinal interface" has率先 entered the clinical translation stage. This product captures real-time motor intention signals from the brain, bypasses the injured area, and directly delivers precise electrical stimulation to spinal nerves, assisting the body in rebuilding muscle control pathways. This achieves fundamental restoration of motor functions, enabling paraplegic patients caused by spinal cord injuries to regain control of their lower limbs through their own consciousness, achieving standing and walking.

Currently, this brain-spinal interface product has completed technological breakthroughs and moved into the mass production preparation phase. Full implantation animal experiments and surgical procedure validations have been successfully carried out, and clinical research has been simultaneously initiated in multiple medical centers across China. As planned, the product is expected to receive Class III medical device registration approval by 2028, which will bring hope of regaining the ability to walk to approximately 3.74 million spinal cord injury patients in China.

In addition to the brain-spinal interface, other clinical indications of the company's technology platform are also advancing in research, covering multiple directions such as language decoding, post-stroke hemiplegia rehabilitation, multi-brain region closed-loop neuromodulation for epilepsy, depression intervention, and ALS (Amyotrophic Lateral Sclerosis) treatment.

At the commercialization level, NeuroPulse, a portable four-channel electrostimulation therapy device independently developed by Intellizon Medical, has successfully obtained medical device registration and officially launched in the market. The product demonstrates steady sales and positive clinical feedback, fully validating the team’s full-chain commercial operation capabilities from product selection, R&D, registration to production and sales. NeuroPulse integrates medium-frequency and low-frequency dual-mode therapy technology, offering diverse stimulation options through a multi-dimensional treatment model. It can be widely applied in clinical scenarios such as neurology, rehabilitation, pain management, and orthopedics, supporting PT, OT, ST, and bedside treatment settings. Its flexible "1-to-N" expansion architecture allows medical institutions to purchase according to demand and achieve cluster management. According to the product pipeline plan, between 2026 and 2028, the company will secure more than six Class II medical device registrations, with a product line covering non-invasive brain-computer interface series for both central and peripheral nervous systems, further strengthening its competitive market barriers.

At the same time, Intellizon Medical is actively expanding into the consumer-grade wearable brain-computer interface product field, focusing on developing solutions for public health needs such as chronic pain, sexual function improvement, sleep disorders, postpartum rehabilitation for women, and urinary incontinence.

Different Perspectives

Huang He, founder of Intellizon Medical, stated: "We sincerely thank Noyu Capital, Well Lead Medical, Chuchang Fund, and Oak Investment for their recognition and trust in our company. We are also deeply grateful for the continued support from StarVest Partners and Suzhou Venture Capital - Angel Mother Fund. The ability of brain-computer interface companies to quickly demonstrate clinical implementation capabilities and effectively address patient pain points is crucial to the healthy development of the entire industry. This round of financing will accelerate the mass production, clinical progress, and registration application of brain-spine interface products. We are confident in bringing our products to patients within two to three years, solving this significant medical challenge. At the same time, this provides ample room for the company to explore the application of brain-computer interface technology across more indications, gradually building comprehensive competitive advantages from core underlying technologies, product platforms to diversified clinical development."

Yang Zhiwen, founding partner of Nuoyu Capital, stated: "Since brain-computer interfaces were included in the country's six major future industries, market enthusiasm has continued to rise. The more a field is at the forefront, the more investors need to calmly examine three fundamental questions: What core pain points does the company address? Are there alternative solutions to the current technical approach? Does the technology itself possess genuine willingness to pay and commercial value? Intellizon Medical has provided clear answers with its hardcore technology. Instead of following the traditional route—using EEG algorithms to drive external devices such as robotic arms or exoskeletons to assist patients in regaining partial daily living abilities—the team has chosen a more challenging path: directly activating the human spinal nerves and muscle conduction pathways through precise thought decoding, enabling paralyzed patients to regain their innate motor abilities—using their own hands to grasp and their own legs to walk. This not only restores self-care in daily life but also promotes the fundamental rehabilitation of muscular and neurological functions. As the first company in China and the second globally to master this technology in the field of brain-spinal interfaces, Nuoyu Capital is highly honored to participate in this round of financing. We look forward to the product receiving regulatory approval and reaching the market soon, benefiting a large number of paralyzed patients."

Virtue Medical stated: "The company has long been paying attention to the technological innovation and clinical transformation progress in the brain-computer interface field. This minority investment in Intellizon Medical, and the willingness to engage in in-depth cooperation with them in product development, market expansion, and other aspects, aims to further accelerate the company's strategic layout in the brain-computer interface, a national strategic emerging field. This move aligns with the company’s long-term development plan and the interests of all shareholders. Additionally, the urology product line in the company’s existing business has become a key future development direction, and the target company’s neural control technology offers broad prospects for synergistic applications in the urology field."

Chuchang Fund stated: "Brain-computer interface is a track with clear policy support, increasingly defined medical insurance payment pathways, continuous breakthroughs in clinical research, and vast market potential, offering both significant social value and commercial value. Intellizon Medical, with its independent and fully controllable full-stack technical capabilities, has developed a differentiated technical approach from traditional companies, focusing on the brain-spine interface field. It is committed to helping paralyzed patients rebuild neural pathways and restore voluntary motor functions. We will continue to follow the company's development and look forward to its technology providing new solutions for patients with movement disorders, truly bringing warmth to every patient through technology and creating long-term social value."

Oak Investment stated: "As a national strategic emerging industry in China, brain-computer interface is at the forefront of medical innovation and technological breakthroughs. Oak Investment has always been closely monitoring this field, firmly believing that its research, development, and applications in healthcare hold immense potential. The investment in Intellizon Medical by the V-Wise MedFlight Fund (jointly initiated by Oak Investment, Well Lead Medical, and Suzhou Venture Capital - Angel Mother Fund, among others) managed by Oak Investment marks a key step in our deep cultivation of the brain-computer interface medical sector and promotion of industrial synergy. This move aligns with our long-term development strategy and serves the common interests of all stakeholders."

Sun Xiaolu, founder of Proxima Ventures, stated: "Proxima Ventures is committed to the exploration and cultivation of groundbreaking medical technologies worldwide. Intellizon Medical is a highly representative innovative company in the brain-computer interface field. The company's full-stack technology is independently controlled, and its spinal-brain interface product has successfully made the critical leap from animal experiments to clinical research, with the potential to meet the motor function reconstruction needs of tens of millions of patients. We will continue to firmly support the company’s development, accelerate technological transformation, and build a world-leading brain-computer interface innovation platform."

Sun Yuandong, General Manager of Su Venture Capital - Angel Mother Fund, stated: "Brain-computer interface is one of the six key future industries in China and also a cutting-edge technology focus in Suzhou. Intellizon Medical, as a high-quality hard tech company nurtured locally in Suzhou, has been deeply engaged in the field of implantable brain-computer interfaces. In less than two years, it has achieved a leap from independent research and development of underlying technologies to preliminary clinical validation. Our continued investment in this round not only reflects recognition of the team's hardcore innovation capabilities but also aims to accompany the company through its growth cycle with 'patient capital,' accelerating its clinical implementation process so that a broad range of patients can ultimately benefit."

Hornet Capital stated: "The successful closing of this round of financing fully demonstrates the capital market's high recognition of Intellizon Medical's technical barriers, team strength, and clinical transformation capabilities. The company has built a complete closed-loop capability covering R&D, registration, and commercialization with its core technical advantages and clear clinical transformation path. Hornet Capital has long been deeply involved in the healthcare and life sciences fields and highly values the transformative value and broad prospects of brain-computer interfaces in medical rehabilitation and treatment. We are honored to continuously connect Intellizon Medical with high-quality capital and industry resources, accelerating the clinical progress of core products and the expansion of global application scenarios."

About the Investor

Noyu Capital, founded by investors with a deep background in the medical industry, is an early-stage-focused venture capital fund that has long been committed to the medical device and digital health sectors, with an emphasis on uncovering early investment opportunities. The core members of the investment team all have over a decade of experience in the medical field, hailing from renowned tertiary hospitals and leading multinational corporations in the industry. They are not only proficient in medical diagnostic technologies but also well-versed in business operations, providing critical growth support to startups in terms of early project evaluation and post-investment empowerment.

Welllead Medical (Welllead, 603309.SH), established in 2004, is one of the leading suppliers in the global medical catheter field. The company mainly focuses on medical catheters, which are widely used in scenarios such as urinary catheterization, anesthesia, urology, nursing, respiratory care, and hemodialysis. Among these, the production and sales scale of tracheal intubation and indwelling urinary catheters rank among the top both domestically and internationally. Its products are exported to more than 100 countries and regions worldwide, with core markets covering mainstream areas such as North America and Europe. In China, its products have penetrated over 5,000 medical institutions nationwide, including more than 1,500 tertiary hospitals.

Chuchang Fund is the only wholly-owned private equity investment platform under the founder of Jiuzhou Tong, China's largest private pharmaceutical commercial enterprise. As a rising force in the healthcare CVC field, since 2023, Chuchang Fund has successively initiated and established more than ten industrial investment funds focused on the medical and health sector. The fund adheres to the investment philosophy of deep integration of industry and capital, relying on Jiuzhou Tong's strong industrial foundation, providing comprehensive lifecycle empowerment support for healthcare enterprises.

Oakridge Investment, established in 2018, is a private equity fund management institution focusing on the healthcare, life sciences, and high-end manufacturing industries. The team brings together seasoned professionals from publicly listed companies in the industry, medical institutions, well-known investment firms, and professional service organizations, combining deep industry backgrounds with extensive investment experience. Building on this foundation, Oakridge has created an ecosystem empowerment platform centered around core technology investments. This platform integrates technical evaluation, industry resources, and capital operation capabilities to provide in-depth support and long-term partnership for its portfolio companies. Oakridge Investment is committed to driving key technological breakthroughs and commercialization through dual empowerment of capital and industry, creating long-term value for investors and society.

Proxima Ventures, established in 2017, is a well-known healthcare technology investment firm in China, managing multiple RMB and USD funds with a total scale of nearly 5 billion RMB. The fund focuses on promoting the clinical translation of breakthrough medical innovation technologies, having invested in over 70 companies, led the establishment or assisted in setting up more than 30 enterprises, covering sub-sectors such as high-end medical devices, innovative drugs, and life science instruments. It has supported more than 200 innovative products, of which over 50 are world-first innovations, and over 60 have obtained NMPA registration certificates, with dozens of products actively advancing in global layout. Proxima Ventures adopts "comprehensive empowerment + strategic integration" as its core strategy, committed to building an internationally leading medical technology innovation ecosystem and continuously creating long-term clinical value for society.

Suzhou Angel Venture Capital Guidance Fund Management Co., Ltd. (SUVC-Angel Mother Fund) was established on January 4, 2021. It is the core angel investment platform under the SUVC Group and was set up by the Suzhou Municipal Committee and the municipal government with the aim of optimizing the regional venture capital ecosystem and attracting top-tier technology talent. The company’s core focus is on "early-stage, small-scale, and hard tech investments," concentrating on strategic emerging industries such as the digital economy, biomedicine, next-generation information technology, semiconductors, intelligent manufacturing, and new materials. With "patient capital," it supports business growth, while its precise investments inject momentum into industrial development.

SWAP Capital is a boutique investment bank focusing on the healthcare and life sciences sectors, with an emphasis on innovative devices, AI large models, consumer healthcare, new materials and life sciences, and medical services. The team members have years of practical experience in capital operations, industry operations, and strategic consulting, enabling them to provide comprehensive investment banking services such as financing, secondary share transfers, mergers and acquisitions, and business development (BD).

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