Recently, there was great news in the medical community: the first post-launch prescription for implantable brain-computer interface systems (NEOs) was issued in Shanghai, and the world's first implantation surgery has been successfully completed!

Intraoperative tests showed that this system could collect EEG signals very stably and with high quality. Currently, the patient's postoperative vital signs are stable and recovery is good.

This means that brain-computer interfaces are no longer just cutting-edge laboratory experiments, but have truly become medical products. As long as the relevant criteria are met, patients can now go to the hospital for evaluation and use this technology to improve their lives.

| Brain-computer interfaces help patients "restart" their hands

In China, there are over 3.7 million spinal cord injury patients, many of whom suffer from hand paralysis and cannot even perform basic self-care activities like drinking water or eating. Conventional medications and rehabilitation methods often struggle to be effective.

Mr. Xu, who underwent surgery this time, was one of them. A car accident ten years ago severely damaged his neck and spinal cord, leaving his hands completely unable to grip.

This surgery brought Mr. Xu a completely new treatment solution—the NEO brain-computer interface system. Simply put, this system is like building a "wireless bridge" between the brain and the hand. It can directly capture motor commands sent by the brain and translate them into signals to external devices (such as pneumatic gloves), helping paralyzed hands regain gripping actions.

Precise surgery, less trauma:

To ensure absolute safety, the expert team at Huashan Hospital made thorough preparations before and during the operation: Precise positioning: Before surgery, MRI and cortical simulation were used to precisely locate the brain regions controlling hand movement. Minimally invasive implantation: During surgery, a navigation system is used to precisely place and secure the electrode sheets. Less trauma: Doctors emphasized that this surgery did not require opening the dura mater (the membrane surrounding the brain), so the trauma to the brain was greatly reduced.

Postoperative Recovery Plan: The More You Practice, the More Flexible You Become:

Intraoperative tests showed that the EEG signals collected by the device were very stable and of good quality, and Mr. Xu is currently in stable condition after surgery.

According to the rehabilitation plan, once the wound heals, the equipment will be powered on and debugged. The medical team also provides home guidance to help Mr. Xu undergo standardized rehabilitation training. With continued training, his hand function is expected to gradually recover.

｜从“拿证”到“开方”仅4个月

From obtaining the world's first marketing approval to issuing the world's first clinical prescription, the NEO brain-computer interface system took only four months. Behind this astonishing "China speed" is the seamless relay of national ministries, relevant Shanghai departments, and medical institutions, efficiently completing a series of complex tasks such as production, equipment admission, and patient screening:

Hospitals Lay the Groundwork: Bridging the "Last Mile" of Implementation As
the "first prescription" development site, Huashan Hospital affiliated with Fudan University has provided key scenarios for this cutting-edge technology to move into real diagnosis and treatment. The hospital not only quickly completed the medical insurance price registration, but also simultaneously advanced equipment admission, patient screening, and preoperative assessments, ultimately facilitating this historic surgery.

Regulatory Protection: Early Intervention, Green Light All the Way, The Rapid
Launch of Products Omitted to the Drug Administration Department's "Nanny-style" Service. Regulatory authorities have put services at the forefront by "early intervention, enterprise-specific policies, and full-process guidance," greatly accelerating the launch process of innovative products.

Standardized application: Ensuring clinical safety
Once products enter hospitals, safety and standardization become top priorities. Shanghai's health authorities have strengthened management of clinical trials and applications of brain-machine interfaces, not only increasing technological support but also formulating application standards and operating procedures to ensure the new technology is used safely and properly.

Cost Protection: Included in "Shanghai Huibao" to reduce patient burden
No matter how advanced the technology is, what matters is that patients can afford it. Currently, the NEO system has been incorporated into Shanghai's "Hu Hui Bao" program. In the future, the medical insurance department will continue to follow up, opening up online listing and settlement channels for consumables, and continuously improving payment policies based on clinical data, so that this technology truly benefits ordinary patients.

With the rollout of clinical applications, the advancement of standardized training, and the improvement of payment guarantees, this innovative technology is expected to enter more hospitals. This will not only bring new hope for spinal cord injury patients to improve their motor function and enhance self-care abilities, but also make Shanghai's goal to become the world's "pioneering hub for brain-machine interface innovation" even clearer.

Jingtai's Perspective | The first year of brain-computer interface commercialization has officially been established

It took only four months from approval to the first prescription issued for the NEO system, and it was quickly included in the "Shanghai Huibao" program, marking that brain-computer interfaces have completely crossed the "valley of death" from laboratory to clinical application.

For the capital market, this means brain-computer interfaces have evolved from a purely "long-term sci-fi concept" into a "substantive industry" with real orders, payers, and clinical data. This laid a solid valuation foundation for the entire sector, and the industry officially entered its first year of commercialization.

Focus on uncovering highly certain "water sellers" along the industry chain

In the highly complex interdisciplinary field of brain-computer interfaces, the threshold for developing complete systems is extremely high, but the "water sellers" along the upstream and downstream industry chain will be the first to realize their results.

It is recommended to focus on two main directions:

First, upstream core components and materials, such as high-precision flexible electrodes, biocompatible materials, and low-power wireless communication chips, are the "bottleneck" segments of brain-computer interface devices, leaving huge potential for domestic substitution;

Second, downstream providers of rehabilitation medical services and AI decoding algorithms. As the number of implanted patients increases, standardized postoperative rehabilitation training and continuous iteration of AI algorithms will generate sustained long-tail revenue.

Beware of "concept hype," focusing on "clinical rigid demand" and "payment closed loop"

The brain-computer interface sector is currently extremely popular, but investors need to remain clear-headed. Currently, the NEO system mainly targets 3.7 million spinal cord injury patients, a specific group of essential needs, and is not a cure-all.

When selecting targets, focus should be placed on whether the company's products truly address clinical pain points and whether they have already established a diversified payment closed loop like "Huhui Bao." Only companies that can effectively reduce the burden on patients and have the potential for large-scale promotion can stand out in the future industry reshuffle. For marginal targets that purely ride on the concept, firmly avoid them.