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During the past decades, research has progressed on the biomedical implantable electronic devices that require power and data communication through wireless inductive links. In this paper, we present a fully integrated binary phase-shift keying (BPSK) demodulator, which is based on a hard-limited COSTAS loop topology, dedicated to such implantable medical devices. The experimental results of the proposed demodulator show a data transmission rate of 1.12 Mbps, less than 0.7 mW consumption under a supply voltage of 1.8 V, and silicon area of 0.2 mm2 in the Taiwan Semiconductor Manufacturing Company (TSMC) CMOS 0.18-μm technology. The transmitter satisfies the requirement of applications relative to high forward-transferring data rate, such as cortical stimulation. Moreover, the employment of BPSK demodulation along with a passive modulation method allows full-duplex data communication between an external controller and the implantable device, which may improve the controllability and observability of the overall implanted system.