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In this paper, we present a fully integrated asynchronous step-down switched capacitor dc-dc conversion structure suitable for supporting ultra-low-power circuits commonly found in biomedical implants. The proposed converter uses a fully digital asynchronous state machine as the heart of the control circuitry to generate the drive signals. To minimize the switching losses, the asynchronous controller scales the switching frequency of the drive signals according to the loading conditions. It also turns on additional parallel switches when needed and has a backup synchronous drive mode. This circuit regulates load voltages from 300 mV to 1.1 V derived from a 1.2-V input voltage. A total of 350 pF on-chip capacitance was implemented to support a maximum of 230-μ W load power, while providing efficiency up to 80%. The circuit validating the proposed concepts was fabricated in 0.13- μm complementary metal-oxide semiconductor technology. Experimental test results confirm the expected functionality and performance of the proposed circuit.