Evening Brief: Chinese Visual BCI Sets World Record with Letter Recognition on Day Two Post-Activation; Fatal Tumor Misdiagnosed as Callus, Novel One-Time TIL Therapy Offers New Hope with Clinical Rollout Across China

1. World Record: Letter Recognition Achieved the Day After Activation! China’s Brain-Computer Interface Breaks Through

Recent Announcement of Interim Results from Nanochap’s GCP Clinical Trial for High-Resolution Visual Brain-Computer Interface. A participant who had been blind for nearly two decades achieved the ability to recognize complex letters on the second day after system activation, following implantation of Nanochap’s high-resolution visual brain-computer interface device.

This achievement marks the first breakthrough in the clinical limitations of traditional artificial retina products—where similar devices typically require 3 to 6 months of intensive neural remodeling training after activation to potentially achieve effective visual perception—signifying a critical leap for China in the frontier medical field of visual brain-computer interfaces, transitioning from research to clinical application.

2. Plantar “Callus” Turns Out to Be a Fatal Tumor: Novel One-Time TIL Therapy Rewrites the Prognosis for Dire Cases, with Clinical Trials Launched at Multiple Centers in China

Mr. M, a 51-year-old man, neglected an acral melanoma on the sole of his foot, mistaking it for a callus, which led to metastasis of cancer cells to the hip. After conventional treatments proved ineffective, he received a one-time Tumor-Infiltrating Lymphocyte (TIL) therapy approved by the U.S. Food and Drug Administration (FDA). This therapy involves extracting and expanding the patient’s own tumor-infiltrating lymphocytes, then reinfusing them into the body to precisely target cancer cells. This innovative treatment not only gave Mr. M a new lease on life but also brought hope for long-term survival to numerous patients worldwide with advanced solid tumors. Currently, multiple medical centers in China have initiated the clinical application of TIL therapy, providing new treatment options for more patients.

3. Neuracle's IPO Application Accepted; 2.5 Billion Invested in Deepening Brain-Computer Interface Development

The brain-computer interface (BCI) industry is experiencing rapid development, attracting significant capital attention. Recently, the Shanghai Stock Exchange (SSE) accepted Neuracle’s initial public offering (IPO) application for listing on the STAR Market. The company plans to raise RMB 2.5 billion to fund BCI research and development, industrialization initiatives, and working capital supplementation. As a high-tech enterprise specializing in the R&D, production, and sales of BCI-related products, Neuracle has achieved year-over-year revenue growth from 2023 to 2025. Its core product, NEO-ONE SCI, received marketing approval in 2026, becoming the world’s first approved invasive BCI medical device and has been included in the Shanghai Municipal Medical Insurance Catalogue for Medical Consumables. The mere three-month interval between regulatory approval and IPO acceptance underscores substantial governmental support for the BCI sector. Data indicates a significant surge in both the number and total value of financing events in the BCI field in 2025. Neuracle’s push for an IPO marks the entry of BCI technology into the spotlight of capital markets, signaling that the industry is undergoing a critical transition from “technical validation” to “commercial validation.”

4. AI-Organoid Empowerment: RekeyMed Builds the “BeiDou System” for Biomaterials R&D

The clinical translation of cutting-edge technologies underscores the importance of biomaterials. China’s biomaterials industry has experienced rapid growth in recent years, with the market size expanding from RMB 173 billion in 2016 to RMB 689.5 billion in 2024. However, significant structural shortcomings remain, including a reliance on imports for high-end critical materials and gaps in foundational material innovation and industrial translation capabilities. Against this backdrop, RekeyMed, established in 2021, has built a reusable innovation system for biomaterials centered on AI-driven material discovery, organoid validation, automated synthesis, and precise delivery. Biomaterials R&D is characterized by high barriers, long cycles, and rigorous validation requirements. Traditional R&D relies heavily on empirical trial-and-error, while conventional experiments in emerging fields struggle to simulate the human physiological environment. Consequently, a new paradigm integrating design, synthesis, and biological validation is essential. Anchored by reusable R&D infrastructure, RekeyMed has constructed a closed-loop system comprising “AI-based high-throughput screening – automated synthesis – precise organoid evaluation – solution output,” with its AI technology platform integrating data to establish robust correlations.

5. CRO Niche Leader with 20,000 Lab Monkeys and a $1.05 Billion Valuation Makes Another Push for HKEX Listing

On June 15, Jiangsu Dingtai Drug Research (Group) Co., Ltd., which holds a stock of approximately 20,000 experimental monkeys, submitted another application for listing on the Main Board of the Hong Kong Stock Exchange. According to data from Frost & Sullivan, based on 2025 revenue figures, Dingtai Drug Research ranks first in China’s non-clinical research field for cardiovascular and metabolic diseases and third in the drug efficacy research CRO sector. The company was jointly established in 2008 by the Jiangsu Institute of Materia Medica and Nanjing real estate developer Chen Mailing. In 2010, Zhang Xuefeng, who holds a Ph.D. in pharmacology, joined the company. By 2011, Mr. Chen and his spouse held 100% of the shares, initiating the integration of “capital plus technology.” Dingtai Drug Research listed on the New Third Board in 2016, delisted in 2021, and completed its transition from “real estate developer-controlled” to “scientist-led management,” establishing a new CRO development path oriented toward disease biology. This strategic upgrade drove a surge in valuation, which skyrocketed from approximately RMB 517 million in 2021 to RMB 7.024 billion in 2023, attracting investment from prominent institutions such as Hillhouse Capital.