This paper describes a novel system for recovering power and providing full-duplex communication over an AC-coupled 4-wire lead between active implantable devices. The target application requires a single Chest Device be connected to a Brain Implant consisting of multiple identical optrodes that record neural activity and provide closed loop optical stimulation. The interface is integrated within each optrode SoC allowing full-duplex and fully-differential communication based on Manchester encoding. The system features a head-to-chest uplink data rate (1.6 Mbps) that is higher than that of the chest-to-head downlink (100kbps) superimposed on a power carrier. On-chip power management provides an unregulated 5 V DC supply with up to 2.5 mA output current for stimulation, and a regulated 3.3 V with 60 dB PSRR for recording and logic circuits. The circuit has been implemented in a 0.35 μm CMOS technology, occupying 1.4 mm 2 silicon area, and requiring a 62.2 μA average current consumption.