Tag: 博睿康

2 articles

Market Moves

Neuracle has sold 13 brain implants at a listed RMB 475,000 each since July

Neuracle Technology (Shanghai) (博睿康), maker of China's first approved invasive brain-computer interface, has sold 13 NEO-ONE SCI implant systems and implanted 8 since its first commercial sale in July 2026, with more than 70 more in firm and intended orders. The system is listed at RMB 475,000 per set on procurement platforms in 27 provinces and is not covered by any basic medical insurance catalogue. Neuracle made the figures public on 29 September 2026 in its answers to the Shanghai Stock Exchange's first round of questions on its STAR Market listing application, 110 days after the application was accepted. First-half 2026 revenue was RMB 46.3 million, almost all from its non-invasive business and none from the implant, with a net loss of RMB 65.5 million. No listing committee meeting has been scheduled. None of the best-known Western developers of implanted BCIs, Neuralink, Synchron, Precision Neuroscience, Paradromics and Blackrock Neurotech, is publicly listed.

Oct 1

Market Moves

Three Chinese BCI operators are in the IPO queue at once

Three Chinese brain-computer interface operators are simultaneously moving through IPO processes on two exchanges. Neuracle Medical Technology (博睿康技术(上海)股份有限公司) is the leader: its Shanghai STAR Market prospectus was accepted 11 June 2026 with a planned RMB 2.5 billion (~US$345M) raise. Neuracle received China's first commercial invasive BCI approval from NMPA in March 2026 (NEO-ONE SCI for spinal cord injury). BrainCo (强脑科技) filed a confidential Hong Kong Exchange application in January 2026 (joint sponsors CICC and UBS), with the September 2026 pricing calendar showing no imminent hearing. Arfysica Innovation (术理创新), led by female founder Wang Wei, registered STAR Market pre-IPO tutoring in early September 2026 with Huatai United Securities, entering the pipeline three months behind Neuracle at the earliest stage. Neuracle's disclosed prospectus reveals RMB 108 million 2025 revenue, all from non-invasive EEG systems, with the NEO invasive product still at zero commercial revenue and 32 patients implanted by end-2025.

Sep 14