StairMed Secures RMB 350 Million Series B Funding to Lead China's Invasive Brain-Computer Interface Race

VCBeat learned第一时间 that recently, StairMed, an innovative pioneer in China's implantable brain-computer interface field—StairMed Announces Completion of RMB 350 Million Series B FinancingThis round of financing was led byQiming Venture Partners, OrbiMedAndLilly Asia VenturesAndWell-known industrial investment institutionsCo-led by, Angel Round Investment InstitutionsFountainBridgeContinuous follow-up investment,Qifeng CapitalAct as a financial advisor. This round of funding will be used to accelerate product clinical trials, the development of next-generation technologies, and the construction of a medical-grade MEMS production base, providing strong support for the commercial implementation of brain-computer interface technology.

This financing represents the largest single investment in the history of China's implantable brain-computer interface industry.Prior to this, StairMed had secured Series A financing worth hundreds of millions of yuan and angel round financing worth tens of millions of yuan.

StairMed was founded in August 2021, focusing on the research and application of minimally invasive implantable brain-computer interface technology.Like Neuralink, the company has chosen the technically challenging and highly applicable invasive brain-computer interface technology path. It has successfully developed China's first high-throughput implantable brain-computer interface system that meets medical device standards, aiming to help paralyzed patients accomplish complex brain-controlled tasks. This is China’s first invasive brain-computer interface product to complete registrational type inspection.

StairMed successfully made it to the list of the MIIT's 2023 Future Industry Innovation Tasks "Challenge Project" with this project, being the only implantable brain-computer interface enterprise rated in Shanghai, and received support from the 2024 Shanghai "Science and Technology Innovation Action Plan" brain-computer interface project.

Currently, StairMed has cooperated with multiple top hospitals in China.Conducted more than 50 cumulative investigator-initiated clinical trials (IIT) related to brain-computer interface., achieved remarkable clinical results and built the world's largest flexible electrode human single-cell dataset. StairMed plans to launch in 2025.China's First-In-Man (FIM) Prospective Clinical Trial for Long-Term Implantation of Invasive Brain-Computer Interface, and to further advance large-scale clinical trials in 2026, paving the way for product registration and market entry.

In terms of neural electrode technology, StairMed has achieved a revolutionary breakthrough: adopting an ultra-flexible electrode design, with a size only 1/100 of a hair strand (1/5 of Neuralink's), and hundreds of times softer than Neuralink, making it difficult for brain tissue to "sense" the "foreign invasion" of the electrode. For the first time, they have developed a neural electrode interface that does not form immune scars, ensuring long-term stable neural activity recording. By introducing semiconductor micro-nano processing technology, the company has solved the problem of scaling up the production of medical-grade brain-computer interface electrodes.

In terms of implant design and implantation procedures, the implant size designed by StairMed is only half that of Neuralink. The implant surgery requires only a 3-5 millimeter micro-hole in the skull and can be completed with the assistance of mature minimally invasive neurosurgical puncture techniques, greatly reducing surgical trauma and risks.With this innovative design, StairMed's product has become the smallest and least invasive implantable brain-computer interface system currently available.

In terms of mass production capability, to ensure product reliability, StairMed has built a 2,000-square-meter production plant that meets international GMP standards for production management and quality requirements. This includes a 300-square-meter Class 10,000 cleanroom and an independent quality inspection laboratory. The company plans to...The First Medical-Grade Brain-Computer Interface MEMS Production Base in China to Be Completed in 2025, achieving a full-chain closed loop of "R&D - Production - Quality Inspection".

Zhao Zhengtuo, founder of StairMed, stated: "In the short term, StairMed will develop a range of products including language function reconstruction, artificial hearing, facial paralysis repair, and spinal cord injury repair based on underlying technologies such as ultra-flexible electrodes, miniature implant design, and minimally invasive implant procedures to address critical clinical needs."In the long term, the company is developing a new generation of brain-computer interface systems with thousands of channels, aiming to drive a disruptive improvement in human-computer interaction efficiency."In the future, we look forward to collaborating with leading companies in large language models and embodied intelligent robots to jointly explore innovative paths for intelligent collaboration."

"Becoming a stepping stone for human progress" is the corporate mission of StairMed. Zhao Zhengtuo emphasized,Talent is the key to achieving the vision. StairMed is now recruiting top talents worldwide in fields such as neuroscience, microelectronics engineering, artificial intelligence, and clinical medicine. At the same time, it is open to strategic cooperation with industry chain partners, working together to advance brain-computer interface technology for the benefit of human health.

As a pioneer in China's implantable brain-computer interface field, StairMed is redefining the boundaries of medicine and technology through technological innovation and industry practice. With increased capital and resources, this human-machine interaction revolution, which concerns the future, has already been accelerated.

Mao Shuo, Executive Director of Qiming Venture PartnersStairMed, as the first enterprise in China to complete the registrational type inspection for implantable brain-computer interface, is leading the industry with significant clinical progress and technical advantages. StairMed is about to initiate a prospective clinical trial and accelerate the process of product launch. Qiming Venture Partners highly recognizes its interdisciplinary team capabilities and clinical implementation pathway. We firmly believe that StairMed will continue to break through technical barriers, promote the benefits of brain-computer interface technology for more patients, and lead the industry to new technological heights.

Dr. David Wang, Partner of OrbiMedStated: "Since OrbiMed led StairMed's Series A financing in 2022, we have witnessed the accelerated development and qualitative breakthroughs in the global brain science field. During this period, we have been fortunate to collaborate closely with StairMed, supporting the company’s exploration at the forefront of international brain-computer interface research, successfully achieving the development and clinical validation of its first medical product, and attaining remarkable results. OrbiMed's continued co-leading of the company's Series B financing demonstrates our long-term confidence in StairMed and the brain science field. We will continue to support the company as a top-tier enterprise in the international brain-computer interface domain, further accelerating clinical translation so that brain-computer interface technology can benefit more people."

Lilly Asia VenturesSaid: "High-performance brain-computer interfaces have achieved significant breakthroughs over the past few years, and invasive technologies have brought new hope for the treatment of neurological disorders. The StairMed team is globally leading in flexible electrode technology and full-stack system development for brain-computer interfaces. Their self-developed HNE ultra-flexible micro-nano electrodes have reached commercialization and have also achieved important results in clinical applications. We are honored to collaborate with such an excellent StairMed team, and we look forward to the early market launch of their clinical-grade products to benefit more patients."

FountainBridge Partner Ding YihanStated: "Since the angel round of exclusive investment, FountainBridge has witnessed StairMed's continuous breakthroughs and looks forward to ongoing clinical progress!"

Qiming Venture Partners was founded in 2006. Currently, Qiming Venture Partners manages 11 USD funds and 7 RMB funds, with total managed assets under management reaching 9.5 billion USD. Since its establishment, it has focused on investing in outstanding early-stage and growth-stage enterprises in the Technology and Consumer (T&C), and Healthcare industries. To date, Qiming Venture Partners has invested in more than 580 rapidly growing innovative companies, of which over 210 have gone public on exchanges such as the New York Stock Exchange, NASDAQ, Hong Kong Stock Exchange, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through mergers and acquisitions. More than 80 of these companies have become unicorns or super unicorns recognized within their respective industries.

OrbiMed, as the world's largest investment company focused on the biomedicine field, is committed to seeking and supporting biomedicine and life science enterprises that can promote human health. OrbiMed manages a total net asset value of approximately 19 billion US dollars and has been dedicated to investing in the global biomedicine sector for over thirty years. Its investment projects cover areas such as biopharmaceuticals, life sciences, medical devices, medical services, and diagnostics, with investment stages spanning from start-ups, growth phases, maturity phases, to post-IPO. OrbiMed’s investment team consists of more than 100 outstanding professionals globally, with expertise in life sciences, pharmaceuticals, finance, and law.

Lilly Asia Ventures (LAV) is a premier venture capital fund focused on investments in the life sciences and healthcare industries. Headquartered in Shanghai, China, with offices in Hong Kong, China, and Silicon Valley, USA, our long-term vision is to build great companies that develop breakthrough products to conquer diseases and improve human health, while becoming a trusted partner for outstanding entrepreneurs seeking smart capital.

Fountainbridge Capital is a domestic new-sharp dual-currency venture capital fund, focusing on original innovation opportunities in the fields of technology and new consumption. Since its establishment in 2019, Fountainbridge Capital has adhered to the investment philosophy of creating long-term value, persisted in an investment framework of in-depth industry research, and concentrated on early-stage and deep innovation. Centering around cutting-edge technology directions such as semiconductors, biotechnology, biomedicine, and innovative consumption, Fountainbridge Capital has continuously invested in dozens of innovative enterprises, with 90% being their first-round institutional investors. Fountainbridge Capital provides comprehensive support to invested enterprises in terms of professional talent, key resources, and development strategies, continuously building a technological industry ecosystem and has already accompanied multiple enterprises to become industry leaders.