Industry Trends

Fourth IPO Attempt! XIKANG Passes Hong Kong Stock Exchange Hearing, Total Loss of 737 Million Yuan in Three Years

On September 11, XIKANG passed the Hong Kong Stock Exchange (HKEX) listing hearing and is about to be listed on the Hong Kong Main Board, with China International Capital Corporation (CICC) as the sole sponsor. Prior to this, XIKANG had submitted its prospectus to the HKEX three times—in May 2021, February 2022, and November 2022—all of which expired without progress. Established in 2011, XIKANG participated in the construction of "Ningbo Cloud Hospital," China’s first city-based cloud hospital platform, in 2014, and built a cloud hospital network that connects the government, medical institutions, patients, and insurance companies, promoting the delivery of various internet-based medical services such as online hospital services, telemedicine services, smart family doctor services, and internet-based home nursing care.

The First Data Product of the National Health and Medical Big Data Center (Northern) Completed Transaction!

In early August, the first "Population Epidemiology Analysis Report" data product in China, developed by the National Health Medical Big Data Center (Northern), was launched on the Shandong Data Trading Platform and recently completed an in-venue transaction. The collaborator was Professor Zhao Wei's team, Taishan Scholars of Shandong University.

AI Large Model Applications: A Comparison Between the US and China to Identify Key Factors Behind Low Penetration in China's Medical Industry

Recently, the International Think Tank of Titanium Media released the "2023 AI Large Model Application: A Comparative Study Between China and the US" report. The report points out that both China and the US are sparing no effort in the layout of large models. However, large models are just side dishes; to truly serve the industry, the main course is needed — that is, applications that combine with actual business scenarios and have a self-consistent business model.

Director Yanhong Guo of the National Health Commission: Anti-corruption Should Not Undermine the Enthusiasm of Medical Staff to Participate in Regular Academic Conferences

On September 9, at the China Hospital Dean Forum held in Nanjing, Guo Yanhong, Director of the Medical Emergency Department of the National Health Commission, delivered a speech on the theme of "Maintaining a Steady Policy Tone and Advancing the Concentrated Rectification of Pharmaceutical Corruption." In her speech, she emphasized that the anti-corruption efforts should achieve "focused breakthroughs and combine correction with construction," centering on two "key" aspects. The campaign should distinguish between the vast majority in the pharmaceutical industry who work hard and selflessly contribute, and must not confuse the legitimate income of medical staff. It should also avoid undermining the enthusiasm of medical personnel to participate in regular academic conferences, and must not arbitrarily exaggerate the scope of the concentrated rectification efforts.

More than 100 AI medical devices to enter the research and testing phase this year, with insufficient computing power urgently needing expansion!

Hubei Artificial Intelligence Medical Device Supercomputing Platform, China's First Medical Device Supercomputing Platform, Provides Computational Power Services for Product R&D and Production. After Two Years of Operation, It Has Provided Over 180,000 Hours of Computational Power to 15 Organizations and Enterprises. Recently, the Hubei Pharmaceutical Regulatory System's Theme Education Research Team Found During Their Investigation of Platform Usage That Some Enterprises Reported a Reduction in Computing Speed When Running Multiple Projects Recently. Zhang Yiwen, a Testing Engineer at the Information Technology Research Center of Hubei Medical Device Institute, Introduced That Over 100 AI Products Are Entering the Research and Testing Phase This Year, with Growth Accelerating Rapidly. The Increasing Computational Demands from Enterprises Have Led to Insufficient Computational Resources.

China's First AI Open Innovation Platform in the Medical Testing Industry Launched

On September 12, the Artificial Intelligence Open Innovation Platform for Clinical Testing and Pathological Diagnosis, constructed by KingMed Diagnostics, officially went online. This platform provides services to startups, medical research institutions, individual developers, industry experts, and other users through the sharing of computing power, algorithms, data, and models. It meets developers' full-process needs from data training to AI application deployment, including data processing, development training, model management, and online deployment.

A grassroots medical institution fined nearly 100,000 yuan for conducting internet-based medical services

According to the Foshan Chancheng District Health Supervision Institute, two patients from Jiangsu filed a complaint. Both claimed they had consulted and received treatment via WeChat, online payment, and mail-order medication from a traditional Chinese medicine clinic within Chancheng District. In accordance with relevant regulations of the "Regulations on the Prevention and Handling of Medical Disputes" and the "Regulations on the Administration of Medical Institutions," the TCM clinic was given the following administrative penalties: 1. Warning; 2. A fine of RMB 85,000; 3. Ordered to cease all TCM medical practice activities.

Latest Policy Release

National Healthcare Security Administration: All Coordinated Regions to Launch Intelligent Supervision Subsystem by the End of the Year, Extending Intelligent Monitoring to Hospitals

《The Notice on Further Advancing the Intelligent Review and Monitoring of Medical Security Funds points out that by the end of 2023, all coordinated regions in China should have the intelligent supervision subsystem online. The data from intelligent review and monitoring must be accurately uploaded to the national medical security information platform. Comprehensive intelligent review by the handling agencies should be carried out to standardize the service behaviors of designated medical institutions. The coordination between agreement-based handling and administrative supervision, as well as between handling verification and administrative law enforcement, should be strengthened. This aims to initially achieve an integrated "single network" for intelligent monitoring across China.

MIIT Launches Brain-Computer Interface and General Artificial Intelligence Challenge with Over Ten Tasks Targeting the Medical Industry!

On September 13, the Ministry of Industry and Information Technology (MIIT) issued the "Notice of the General Office of the Ministry of Industry and Information Technology on Organizing and Carrying Out the 2023 Future Industry Innovation Task Challenge." The notice stated that through the form of a challenge, it will focus on four key directions—metaverse, humanoid robots, brain-computer interfaces, and general artificial intelligence—and concentrate on innovative tasks such as core foundations, key products, public support, and demonstration applications. The aim is to identify and cultivate a group of leading organizations that possess key core technologies and have strong innovation capabilities, to break through a number of landmark technical products, and to accelerate the implementation and application of new technologies and products.

Beijing: Targeting Future Life Health and Medical Needs, Building a Source for Future Industries‍Highland

On September 8, Beijing issued the "Beijing Implementation Plan for Promoting the Innovation and Development of Future Industries." The plan points out that it aims to create a highland for future industry innovation in six major fields. Among them, to meet the future needs of life health and medical care, the focus will be on developing sub-sectors such as gene technology, cell therapy and regenerative medicine, brain science and brain-computer interfaces, and synthetic biology in regions like Haidian, Shijingshan, Tongzhou, Changping, Daxing, Pinggu, Miyun, and the Economic-Technological Development Area.

Hangzhou Issues Implementation Plan for Authorized Operation of Public Data, with Healthcare Scenarios as Key Focus!

On September 8, the General Office of the Hangzhou Municipal People's Government issued the "Hangzhou Public Data Authorized Operation Implementation Plan (Trial)," proposing to promote the compliant and efficient circulation and use of public data under the premise of protecting state secrets, personal information, trade secrets, confidential business information, and ensuring public safety. This initiative aims to help build a model city for China’s national data element comprehensive pilot zone and reshape Hangzhou as the "Number One City of China’s Digital Economy."

Wuhan Medical Institution Layout Plan Released: A Large Number of Medical Institutions to Be Built Within 3 Years

Recently, the Wuhan Municipal Health Commission and the Municipal Development and Reform Commission jointly released the "Wuhan Medical Institution Establishment Plan (2023-2025)" (hereinafter referred to as the "Plan") to guide the access of medical institutions, continuously optimize the allocation of medical resources across the city, and improve the efficiency of medical resource utilization. The Plan specifies the detailed requirements for the establishment of medical institutions in Wuhan from five aspects: institutional setup, department and treatment subject setup, bed allocation, personnel allocation, and equipment allocation.

The National Health Commission Issues Document: Strictly Prohibit Issuing Revenue-Generation Targets to Departments, and Strictly Control the Unordered Expansion of Public Hospitals

Following the release of the key tasks for the second half of the year on deepening medical reform by the National Health Commission, six departments in Sichuan Province—the Provincial Health Commission, the Provincial Development and Reform Commission, the Finance Department, the Human Resources and Social Security Department, the Provincial Medical Insurance Bureau, and the Provincial Drug Administration—jointly issued the "Recent Key Tasks for Deepening Healthcare System Reform in Sichuan Province" (hereinafter referred to as the "Tasks"). The Tasks include 20 items divided into six sections, such as enhancing primary healthcare service capabilities, advancing pilot reforms with the "three-medical" linkage, and expanding and strengthening the health workforce. The Tasks propose that Sichuan will accelerate the construction of the fifth batch of national regional medical centers, strive to establish a national medical center, and introduce setting standards for provincial regional medical centers specializing in cardiovascular diseases, critical care, and other fields, ensuring standardized progress in building provincial medical centers and regional medical centers.

Investment and Financing Dynamics

Shenzhen Shengqiang Technology Co.,Ltd Completes Over 100 Million Yuan in Series B Financing

Shenzhen Shengqiang Technology Co., Ltd. is a provider of integrated digital intelligent pathology solutions, focusing on offering wide-area network and local-area network intelligent solutions as well as artificial intelligence solutions for pathology. By utilizing advanced algorithms, image recognition technology, and extensive clinical data sample validation, the company delivers rapid and accurate analysis of pathological images, thereby assisting pathologists in improving diagnostic efficiency. Recently, Shenzhen Shengqiang Technology completed an over 100-million-yuan Series B financing round, exclusively invested by SDIC Capital. The funds from this round will be used for team expansion, accelerating clinical validation, and commercial promotion.

WECARE MEDICAL Completes Tens of Millions in Pre-A Round Financing

WECARE MEDICAL was founded in 2021, focusing on the research, development, and sales of products for disease diagnosis, monitoring, and treatment in the field of brain science. Recently, WECARE MEDICAL announced that it had completed a Pre-A round of financing worth tens of millions of RMB several months ago, led by Noyou Capital, with follow-up investment from the existing shareholder, renowned angel investor Mr. Ye Huahua, and Dian Shi Capital serving as the exclusive financial advisor. The funds raised from this round will be used to advance the development of non-invasive deep brain stimulation neuromodulation products based on Temporal Interference (TI) technology, expand the pipeline of brain science diagnostic and therapeutic products, upgrade and iterate the Biovital digital health general technology platform, and build production, sales, and marketing teams.

LanJia MedicalCompleted Tens of Millions in Series A Financing

Shanghai Lanjia Medical Technology Co., Ltd. is a research and production company specializing in intelligent full airway management tools. It oversees business operations management across China and has established a research and development center for intelligent airway management tools, focusing on the R&D of airway management hardware. Additionally, it has set up an AI laboratory responsible for developing imaging algorithms, big data analytics, and acoustic detection software. Recently, Lanjia Medical completed its Series A financing round worth tens of millions of yuan, with investments from Zhangjiagang Shazhou Sci-Tech Investment Partnership (Limited Partnership) and Phoenix Technology.

Inceptive Secures $100 Million in Strategic Investment

Inceptive is an AI biotechnology provider whose core innovation is using state-of-the-art artificial intelligence to create "biological software," which is regarded as a means of encoding executable instructions within human cells. Recently, Inceptive secured $100 million in funding from investors NVIDIA and Andreessen Horowitz.

Tribun Health Secures €15 Million in Series B Funding

Tribun Health is a digital pathology service provider that enables pathologists to efficiently analyze and interpret histological and cytological samples by leveraging artificial intelligence technology and digital laboratory workflows, leading to faster and more accurate diagnoses, ultimately improving patient outcomes.

Recently, Tribun Health raised 15 million euros in its Series B financing round. This round was led by Fonds Patient Autonome, managed by Bpifrance, with other new investors including Owkin, Vivalto Family, and LBO France.

Noetik Secures $14 Million in Seed Funding

Noetik is an AI-native biotechnology service provider that has built a multimodal tissue analysis platform, combining self-supervised learning with spatial biology to address fundamental questions in cancer immunology. Recently, Noetik raised $14 million in seed funding. This round was led by DCVC, with participation from Zetta Venture Partners, 11.2 Capital, Catalio Capital Management, Epic Ventures, Intermountain Ventures, North South Ventures, Chau Khuong, CJNV BioVentures, Enveda founder and CEO Viswa Colluru, Hummingbird Nomads Fund, Recursion CEO Chris Gibson, and Recursion CFO Michael Secora.

Scala Biodesign Secures $5.5 Million in Seed Funding

Scala Biodesign is a biotechnology service provider that has researched and developed an algorithm for redesigning natural proteins, known as PROSS. The variants generated by this algorithm can improve half-life and thermal stability. Recently, Scala Biodesign announced that it has raised $5.5 million in seed funding. This round of financing was led by TLV Partners, an Israeli venture capital firm.

Medical Informationization Project Bidding

Datong District Universal Health Information Platform and Digital Medical Community Construction Information Service Project

Potential bidders for the Datong District Universal Health Information Platform and Digital Medical Consortium Construction Information Service Project should log in to the Heilongjiang Provincial Government Procurement Management Platform (http://hljcg.hlj.gov.cn/)Obtain the tender documents and submit the bid documents before 09:00 on October 7, 2023 (Beijing Time). Budget amount: 35 million yuan.

Southern Sichuan and Western Chongqing Intelligent Medical Care Data Center and Disaster Recovery Server Room Project

Potential bidders for the Southern Sichuan and Western Chongqing Smart Medical Care Data Center and Disaster Recovery Server Room Project should obtain the tender documents from the Sichuan Provincial Government Procurement Integrated Platform's electronic trading system, and submit the bidding documents before 10:00 AM (Beijing Time) on October 8, 2023. Budget amount: 14,134,329.66 yuan.

Nanhua County Medical Consortium Smart Healthcare Construction Project

Potential bidders for the Nanhua County Medical Consortium Smart Healthcare Construction Project should obtain the tender documents from the Yunnan Public Resources Trading Information Network (select "Chuxiong Prefecture") and submit the tender documents before 09:00 (Beijing Time) on 2023-10-12. Budget amount: 13 million yuan.

Performance Assessment Homepage Reporting System and Medical Insurance Intelligent Supervision Quality Control Review System of Horqin Left Wing Rear Banner People's Hospital

Potential suppliers for the procurement project of the homepage reporting system for public hospital performance appraisal and the quality control review system for medical insurance intelligent supervision should obtain the procurement documents from the Inner Mongolia Autonomous Region Government Procurement Website and submit their response documents before 10:30 AM (Beijing Time) on September 26, 2023. Budget amount: 1.53 million yuan.

Zhalantun People's Hospital Medical Insurance DIP Service Management Information System

Potential suppliers for the procurement project of the Medical Insurance DIP Service Management Information System should obtain the procurement documents from the Inner Mongolia Autonomous Region Government Procurement Website and submit the corresponding documents before 09:00 (Beijing Time) on September 22, 2023. Budget amount: 12.8 million yuan.

Medical Record Homepage Quality Control, DIP Management, and Medical Insurance Review System of Ningde Hospital Affiliated to Ningde Normal University

Potential bidders for the homepage quality control, DIP management, and medical insurance review system of Ningde Hospital affiliated with Ningde Normal University should obtain the procurement documents from the Fujian Government Procurement Network (zfcg.czt.fujian.gov.cn) and submit their tender documents before 09:00:00 on October 8, 2023 (Beijing Time). Budget amount: 1 million yuan.

Technological Frontier

World's First! Chinese Scientists Successfully Grow Human Mid-term Kidneys in Pigs!

According toLatest news from the Guangzhou Institutes of Biomedicine and Health, Chinese Academy of Sciences: The institute published an article on the 7th in an internationally authoritative academic journal.Cell Stem Cell(Cell Stem Cell) published a cover research paper,Research Team Successfully Cultivates Human Kidneys in Pigs for 28 Days, Marking the World's First Reported Case of Humanized Functional Organ Xenogenesis

Searching for Sperm: AI May Become a Powerful Tool to Solve Male Infertility

Recently, a healthy sperm recognition system developed by a team led by biomedical engineer Vasilescu from the University of Technology Sydney (UTS) is preparing to enter the clinical validation stage. Dr. Vasilescu said that this artificial intelligence system, named "Search Sperm," can find healthy sperm in tissue samples of patients with severe infertility, and it is 1,000 times faster than any rigorously trained doctor.

Human Brain Organoids Accurately Simulate Autism, Bringing Hope for Treating the Most Complex Brain Disorders

To open the "black box" of autism research, the Institute of Molecular Biotechnology (IMBA) of the Austrian Academy of Sciences and ETH Zurich in Switzerland jointly developed a technology to screen key transcriptional regulatory genes associated with autism. This technology is considered to mark the beginning of an era of complex, efficient, and convenient genetic screening in human tissues.

In a newly developed system called "CHOOSE" (CRISPR-Human Organoid scRNA Sequencing), each cell in brain organoids carries at most one specific gene mutation. Researchers can track the impact of each mutation at the single-cell level and map the developmental trajectory of each cell.

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