Stairmed, located in Waigaoqiao, announced the completion of a 350 million yuan (US$48.21 million) Series B financing round.
The funds will be used to accelerate clinical trials of products, research and development of next-generation technologies, and the construction of a medical-grade MEMS production base, providing strong support for the commercialization of brain-computer interface technology.
This financing round is the largest in the history of China's implantable brain-computer interface industry. As an important strategic move in cultivating leading regional industries, Stairmed's production and manufacturing base signed an agreement in 2023 to settle in the Waigaoqiao XIN Development Service Industry Innovation Development Demonstration Zone.
Zhao Zhengtuo, the founder of Stairmed, said that in the short term, Stairmed will develop a range of products such as language function reconstruction, artificial hearing, facial paralysis repair, and spinal cord injury repair to meet clinical demands. In the long term, the company is developing a next-generation brain-computer interface system with thousands of channels, aiming to achieve a disruptive improvement in human-machine interaction efficiency.
Currently, Stairmed has partnered with several top domestic hospitals to conduct over 50 brain-computer interface-related clinical studies, achieving significant clinical results and establishing the world's largest flexible electrode human single-cell dataset.
As a service industry innovation development demonstration zone recognized by the Shanghai Development and Reform Commission, Waigaoqiao has attracted numerous biopharmaceutical companies. In addition to Stairmed, multinational companies and leading domestic companies such as Ortho Clinical Diagnostics, Amgen, and Radiometer have established headquarters here.
Their business scope covers multiple segments of the biopharmaceutical industry chain, including R&D, manufacturing, sales, technical services, and medical equipment leasing and related services. A series of pioneering policies, such as the medical device registrant system, are also being implemented in the bonded area.
