LingNao Tech Secures Multi-Million RMB Angel Funding to Advance Integrated Solutions for Brain and Mental Disorder Research, Diagnosis, and Treatment

Recently, VCBeat learned that Hangzhou Lingnao Technology Co., Ltd. (hereinafter referred to as "Lingnao Technology"), which aims to provide comprehensive services for the research, detection, and treatment of brain and mental illnesses, has completed an angel round of financing worth millions of RMB under the innovative equity structure of the “West Lake Plan.”

This round of financing was led by Zhejiang University Innovation Technology Research Institute Co., Ltd. ("ZJU Innovation Institute" for short), and completed by Hangzhou New Vision Yuxiu Jiuzhi Equity Investment, a market-oriented investment fund jointly initiated by ZJU Innovation Institute and Zijin Harbor Capital.This round of investment will mainly be used for the iterative optimization and market promotion of the company's first research-grade product, the "High Spatiotemporal Resolution Miniature Brain Calcium Imaging Microscopy System," as well as the development and registration of the clinical product, the "Functional Brain Spectroscopy Imaging ADHD Detection Product."

The human brain is regarded by many scientists as "the most complex object in the known universe," and understanding the brain is one of the longest and most meaningful journeys in the process of human evolution.

Facing the challenge of understanding the brain, establishing a brain function atlas with neuronal precision is like having a "dynamic navigation map" for mental illnesses. This is highly significant and helpful in comprehending the structure and material basis of brain functions, advancing brain science, and improving clinical diagnosis and treatment methods for brain diseases.

According to authoritative data published in The Lancet Psychiatry in 2019, the lifetime prevalence of various neuropsychiatric disorders in China is as high as 16.6%, with tens of millions of people affected by depression-related conditions, yet the treatment rate does not exceed 1%. The market size for antipsychotic drugs exceeds 20.9 billion yuan, while the markets for in vivo imaging detection equipment and third-party pharmaceutical testing for mental disorders both surpass 5 billion yuan each. These sectors are projected to maintain a high growth rate of over 15% within the next five years, indicating vast market potential in the research and treatment of mental and brain-related diseases.

Targeting this field, Lingnao Technology was established at the end of 2021.The project was jointly launched by teams including the National Key Laboratory of Brain-Machine Intelligence, the Frontier Science Center for Brain and Brain-Machine Fusion of the Ministry of Education, and the School of Brain Science and Brain Medicine at Zhejiang University.Design suggestions were provided by a cross-disciplinary research team of medicine, industry, and engineering, with the product team completing the project development. The project was jointly incubated by the Zhejiang Zhejiang University West Investment Brain-Machine Intelligence Research Center and West Investment Qizhen Brain-Machine Intelligence Industry Operation Co., Ltd.Lingnao Technology provides solutions for the research, detection, and treatment of brain and mental illnesses, fully supporting China's major national science and technology innovation project "Brain Science and Brain-like Research" under the 2030 initiative.

With the mission of "providing professional solutions for brain exploration," the company is dedicated to offering professional brain imaging equipment, technical development solutions, and data support services for scientific research, pathological testing, and clinical treatment in the field of brain and mental disorders.FocusBuild a systematic digital healthcare solution in the field of brain science, featuring "advanced research instruments + clinical diagnostic equipment + data support services," to contribute innovative solutions for the neurological and mental health of the Chinese population.

Currently, the company has completed the research and development as well as small-scale mass production of products or prototype models, including the "High Spatiotemporal Resolution Miniature Brain Calcium Imaging Microscopy System" and the "Portable Functional Brain Spectroscopy Imaging ADHD Detection Product."

Brain science research can be mainly divided into three parts: "Brain Exploration," "Brain Protection," and "Brain Creation." Among these, "Brain Exploration" refers to exploring the structure, function, and working principles of the brain, understanding the brain's thoughts and ideas, learning about the brain's working paradigms, and decrypting the root of intelligence, forming the foundation of brain science research.

To fully understand brain mechanisms and accurately diagnose brain diseases, traditional biochemical indicators such as blood, body fluids, and cerebrospinal fluid cannot provide sufficient information. It is necessary to dynamically analyze the structure and function of neural networks, relying on advanced imaging instruments to obtain high-resolution real-time information on brain activity. Therefore, there is a significant market demand for brain imaging-related equipment.

Imaging-related equipment of this kind has mainly been large-scale devices, which are not only expensive but also often only suitable for analyzing targets such as ex vivo samples and pathological sections or for imaging laboratory animals in a physically fixed state, limiting the acquisition of real data under free behavior.

Currently, there are still few devices available globally for high-resolution brain imaging in free-behavior scenarios, and they have various shortcomings in resolution, motion resistance, and other aspects. The Chinese market is almost entirely dominated by expensive imported equipment.

Lingnao Technology, with its team members' extensive research experience, decades of technical accumulation, interdisciplinary collaboration in medicine, industry, and academia, as well as a firsthand understanding of the shortcomings of cutting-edge equipment in brain science research,Independently developed "High Spatiotemporal Resolution Miniature Brain Calcium Imaging Microscope System MiniFM1," focusing on product upgrades in terms of market demand, key performance parameters, manufacturing costs, and more, with the aim of achieving full domestic production replacement.

It is reported that the product has won the silver award at the National Entrepreneurship Invention Exhibition, with all technical indicators surpassing international standards, such as breaking through the limits of detail observation scale (no higher than 2μm) and dynamic monitoring speed (no more than 60fps) of existing commercial equipment.

In terms of optical design, Lingnao Technology adopts advanced optical system design techniques, systematically correcting various imaging aberrations to achieve high-quality optical focusing and microscopy, with a physical resolution as high as 1.2 μm, far surpassing similar foreign products. In terms of circuit hardware, it innovates high-bandwidth acquisition and transmission solutions, with a full-frame rate of up to 60fps, and a maximum of 120fps, which can be used for real-time dynamic monitoring of neurotransmitter release. In terms of system design, it employs a highly integrated and miniaturized design scheme, with wearable components weighing no more than 2.9g, capable of being worn on the heads of freely moving laboratory animals. In terms of data support services, it has developed a series of deep learning and machine learning algorithms for image quality enhancement and big data analysis, processing, and mining.

The gradual development and progress of wearable micro dual-color brain imaging systems, wearable micro optogenetics + calcium imaging systems, and large-field-of-view micro-mesoscopic imaging systems, along with multi-faceted product detail optimizations, enable the series of products to achieve dynamic/static synchronous imaging, dual-dynamic imaging, and synchronous modulation imaging, among others. The "High Spatiotemporal Resolution Micro Brain Calcium Imaging Microscopy System MiniFM1" can clearly capture neuronal activity information in any brain region, quickly obtain neurodynamic detection results, and the acquired imaging is closest to the actual imaging of a biological brain.

Currently, the "High Spatiotemporal Resolution Miniature Brain Calcium Imaging Microscope System MiniFM1" has achieved mass production.Next, the company will fully leverage its product advantages and resource channel strengths,Targeting higher education institutions, research institutes, hospitals, and biopharmaceutical R&D enterprises primarily focused on neuroscience and brain science research, we aim to promote product implementation, break the monopoly of imported foreign equipment, and truly achieve domestically produced alternatives.

In addition to basic scientific research equipment, Lingnao Technology has developed a portable brain function imaging device for clinical detection of ADHD, addressing the pain points in clinical diagnosis and treatment of brain diseases., and has already been validated for device capability in clinical trials. Portable brain function imaging devices have the advantages of being non-invasive, real-time, continuous, portable, and low-cost, making them suitable for prolonged brain function monitoring during physical activity.Experiments show that the diagnostic accuracy of this device has surpassed traditional scale-based diagnostic methods.

Lingnao Technology CEO Zean Wu told VCBeat"Brain function imaging equipment can detect patients' attention control abilities, thereby enabling automatic diagnosis of conditions like ADHD using artificial intelligence models. As the scale of clinical data collection expands and clinical data for different indications increases, the diagnostic accuracy of the equipment can be further improved, and the equipment's diagnostic applications can be extended to other psychiatric disorder indications."

In the future, Lingnao Technology will focus on the research and treatment of mental and brain diseases, revolving around its core products. Based on the intersection of medicine, industry, and engineering, and utilizing optical deep-brain imaging technology, the company will continue to develop products and services, providing comprehensive technical support in the field of brain and mental disorders, illuminating more areas of the brain function map.

As the medical and healthcare technology innovation platform under Zhejiang University Holding Group, we steadfastly adhere to the mission of "aggregating high-end elements, building a technology innovation platform, and nurturing high-growth technology enterprises." Internally, we collaborate with outstanding research teams and scientific achievements from the broader Zhejiang University network. Externally, we align with the development trends of technological innovation, meet market demands, and strengthen collaborative cooperation with relevant units in the technology industry sector of Zhejiang University Holding Group. We have incubated and participated in the investment of a number of high-growth technology enterprises, using technological innovation to serve society and benefit the people. Hangzhou New Vision Yuxiu Jiuzhi Equity Investment Fund is an investment platform for early-stage projects at Zhejiang University, jointly established by Zhejiang University Innovation Academy, Zijin Harbor Capital, Zhejiang University Jiuzhi, and Hangzhou Cultural Investment.

Zijin Harbor Capital was founded in 2014. Its main founders have an average of about 20 years of experience in investment and enterprise management, along with a strong engineering and technical background, forming a management team that empowers through investment. The Zijin Harbor team advocates for an international perspective and currently focuses on international hard technology investments through its Hong Kong-based fund. The company manages funds totaling 5 billion yuan, with investment areas covering integrated circuits, intelligent manufacturing, healthcare, new materials, TMT, artificial intelligence, and more.

The company manages more than 30 funds with a management scale of 5 billion yuan. It has successfully completed investments in nearly 70 high-quality enterprises, including JPT (SH688025), Aite Network Energy (SH600510), Sunwin Technology (SZ300745), Harbour BioMed (02142.HK), MicroPort Medical (02235.HK), Sunkang Medicine, Hengrui Yuanzheng, Nurotron, Bu Rui Technology, Xinhai Biotech, Ruihua Pharmaceutical, Yuanshing Genes, Rouling Technology, Taiyan Semiconductor, Qi'er Machinery, Elephant Acoustics, Wood Wang Technology, Neighbor Hub, Betali, China Suxin, Bohua New Energy, and Yonglian Technology. The investment areas cover integrated circuits, intelligent manufacturing, healthcare, new materials, TMT, artificial intelligence, and more.

The Brain-Machine Intelligence Research Center was officially registered and established on May 29, 2020. Based on the principle of complementary advantages and exploring new market-oriented paths for industry-university-research collaboration between the People's Government of Xihu District, Hangzhou City, and Zhejiang University, the center was jointly funded by Zhejiang University Holdings Group and Xihu Investment Group. Led by Academician Wu Zhaohui and Duan Shumin of the Chinese Academy of Sciences, and relying on the talent pool of Zhejiang University, the center collaborates with high-level research institutions and top innovative talents both domestically and internationally, actively undertaking the strategic national needs of "China Brain Project."

The center is committed to becoming a research and development base for key technologies and prototype products of brain-computer intelligence that fully covers photoelectric, magnetic, and acoustic fields, achieving productization and industrialization in the field of brain-computer intelligence. It aims to establish an innovation system that ranges from cutting-edge basic theoretical research to industrial incubation and industrial clustering, promoting high-quality economic development in the region.

Hangzhou Xitou Qizhen Brain-Machine Intelligence Industry Operation Co., Ltd. was established based on the "Comprehensive Strategic Cooperation Agreement between the People's Government of Xihu District, Hangzhou City and Zhejiang University" signed by the People's Government of Xihu District, Hangzhou City and Zhejiang University. Under the principle of complementary advantages and exploring new market-oriented paths for industry-university-research collaboration, the two parties jointly funded its establishment. The company actively promotes the construction of a national-level brain-machine research platform, while setting up a brain-machine intelligence industry investment fund. It exclusively handles the patents and achievements transformation of the research center, realizing an innovation system that spans from cutting-edge basic theoretical research to industrial cultivation, incubation, and industrial clustering, forming aggregation effects, ecological effects, and wealth effects.

The company has built China's first brain-computer intelligence industry park — the Xitou Qizhen Brain-Computer Intelligence Science and Innovation Center — in Building 1 of Yunmanli, Xihu District, Hangzhou. Currently, 12 brain-computer intelligence related enterprises, including Zhentai Technology and Yining Healthcare, have registered in the park, with a total registered capital exceeding 100 million yuan. In the future, more upstream and downstream enterprises in the brain-computer intelligence industry chain will be introduced to form an agglomeration effect of the brain-computer intelligence industry in the park. At the same time, the industrial park is also the Zhejiang University-Xitou Brain-Computer Intelligence Industry Incubation Base. The park officially opened in December 2021 and will host the project company of Zhejiang University’s Brain-Computer Intelligence Research Center as its initial incubation base. The park will focus on nurturing brain-computer intelligence startups with Zhejiang University’s intellectual property and talent background, contributing to the high-quality economic development of Xihu District.