Peiheart Secures Tens of Millions in Pre-A Funding Led by Lilly Asia Ventures to Advance Domestic AI-Powered Cardiovascular Imaging Platform

VCBeat has exclusively learned that Suzhou Peixin Technology Co., Ltd. (“Peixin Technology”), an emerging innovator in AI-powered medical imaging, has announced the completion of its Pre-A financing round, raising tens of millions of RMB.

This round of financing was led by Lilly Asia Ventures (LAV), with participation from the Suzhou Industrial Park Science and Technology Innovation Fund, while existing shareholder Jiasheng Fund continued its support. The funds raised will be used for team building, regulatory filings, and clinical trials.

Peixin Technology was established in September 2021 and is located in the 2.5 Industrial Park of Suzhou Industrial Park. It was incubated by the Institute of Interventional Medical Technology under the Suzhou Industrial Technology Research Institute. The company is primarily engaged in the research, development, and production of AI-powered decision support products for medical imaging, including AI systems for automatic mapping and image fusion of CT, ultrasound, and MRI scans, as well as AI platform systems for assisted diagnosis and surgical planning. Its first product, the “CardioVerse Heart Valve Analysis System,” has entered commercialization.

Valvular heart disease can cause severe structural and functional damage to the heart, leading to complications such as heart failure (HF), thereby threatening patients' lives. With population aging, its incidence is gradually increasing. In recent years, transcatheter interventional therapy has rapidly developed and gradually become the primary treatment modality for valvular heart disease.

Cardiac CT examination is an indispensable component of preoperative assessment for transcatheter aortic valve replacement (TAVR). The 2022 “Expert Consensus on Process Optimization for Transcatheter Aortic Valve Replacement (TAVR)” also explicitly states that preoperative imaging evaluation is a necessary step. Currently, preoperative CT planning for valve procedures in China is mostly conducted jointly by physicians and technical staff from valve manufacturers, resulting in a significant reliance on technical personnel. Although mature preoperative assistance products are available abroad, their purchase prices are prohibitively expensive, with single-machine licenses often costing hundreds of thousands of yuan. Furthermore, due to the constraints imposed by the Personal Information Protection Law, these foreign solutions fail to adequately address the needs in China.

Peixin Technology’s independently developed heart valve analysis system, “Zhixin” CardioVerse, effectively fills this gap.

“Zhixin” CardioVerse is a valve assessment and surgical planning system based on CT imaging data, designed to assist operators in evaluating procedural risks, guiding surgical strategies, ensuring the safety of TAVR procedures, improving success rates, and facilitating the broader adoption of TAVR techniques. Peixin Technology distinguishes itself through its unique approach to research and development as well as commercialization:

• First, “Zhixin” CardioVerse continuously gathered authentic feedback from frontline valve companies and clinicians throughout its R&D and iteration process, enabling high-frequency iterations based on this feedback to better align the product with the operational habits of Chinese physicians;

• Second, the system exhibits strong compatibility with various computer operating systems and hardware configurations, which can facilitate the widespread adoption of transcatheter valve procedures in primary care hospitals, thereby benefiting a larger population of patients with valvular heart disease;

• Third, the user-friendly interface caters to the needs of physicians at different levels by offering both a simple mode and an advanced mode, enabling primary-care physicians to quickly get started while meeting the flexible research requirements of senior clinicians.

• Fourth, it can be integrated with embedded hardware systems (such as CT, DSA, and surgical robots) to match intraoperative navigation systems, leveraging multimodal image fusion technology to optimize the workflow of valve surgery.

Yuan Jingxian, founder of Peixin Technology, told VCBeat that the company possesses a fully independent proprietary underlying codebase, with its products demonstrating exceptional scalability, reusability, and portability. Meanwhile, the company has an R&D team that combines extensive experience with youthful energy, enabling extremely rapid product iterations. “User-friendly products, exceptionally fast team response, and astonishing iteration speed” are the most frequent accolades the company receives.

Building on the successful application of its aortic valve module, Peixin Technology has accelerated R&D and product finalization for mitral, tricuspid, and pulmonary valves, as well as other areas within structural heart disease. Leveraging algorithm optimization and image fusion technology, the company has expanded its capabilities to assist in the diagnosis and early screening of valvular heart disease. Additionally, Peixin Technology plans to extend its applications into the neurointerventional field and cloud-based imaging systems, strategically laying out its “Smart Imaging” and “Smart Brain” product portfolio.

Suzhou Peixin Technology Co., Ltd. was able to complete the development and commercialization of its core products within just one and a half years, thanks to the full-cycle incubation provided by the Institute of Interventional Medical Technology under the Suzhou Industrial Technology Research Institute.

The Institute of Interventional Medical Technology, Suzhou Industrial Technology Research Institute, was jointly established by four parties: the Suzhou Industrial Technology Research Institute, the Administrative Committee of Suzhou Industrial Park, Peijia Medical, and the founding team. Focusing on interventional medicine as its core field, the institute invests in and integrates medical resources with disruptive innovative technologies worldwide, and organizes activities related to life science exploration, industrial incubation, and investment operations.

It effectively connects with government bodies, industry associations, universities, research institutes, and enterprises to foster deep collaboration. Leveraging these partnerships, it rapidly responds to the full-chain innovation needs of projects—from talent team assembly, core technology R&D, and project design development to clinical trials and manufacturing—providing incubated companies with one-stop services from 0 to 1.

“Peixin Technology’s products follow a dual-track approach, with R&D and commercialization proceeding in parallel and undergoing simultaneous validation.” Yuan Jingxian told VCBeat that, in addition to providing foundational financial support, assisting in team building, and facilitating industrial synergy, Peijia Medical, as a co-establishing partner of the research institute, has been fully involved in the R&D and optimization of “Zhixin” CardioVerse from the perspective of the end-user since the inception of its development. This involvement has helped Peixin Medical adopt an “end-in-mind” R&D strategy, providing feedback for optimization during the validation process to ensure the product strongly aligns with clinical needs.

With the incubation support of the Institute of Interventional Medical Technology at Suzhou Industrial Technology Research Institute, Peixin Medical achieved the R&D and commercialization of “Zhi Xin” CardioVerse in just 1.5 years.

It is reported that the company’s TAVR module, which features fully independent intellectual property rights, has entered the commercialization phase. Hundreds of units have been installed and authorized across China, with deployments in nearly 100 hospitals. Through collaborations with multiple valve manufacturers, the company has initially achieved domestic substitution in this field.

Regarding the securing of this round of financing,Yuan Jingxian, Founder of Peixin MedicalHe stated, “We are deeply grateful to the Institute of Medical Technology under the Suzhou Industrial Technology Research Institute for its comprehensive incubation support, which has enabled our company to accelerate rapidly in product development and commercialization. It is a great honor for Peixin Technology to have Lilly Asia Ventures (LAV) lead this round of financing. We also extend our appreciation to the Suzhou Industrial Park Science and Technology Innovation Fund for their recognition, and to our existing shareholder, Jiasheng Fund, for their continued support. The proceeds from this financing round will be used to expand Peixin Technology’s R&D team, conduct clinical studies, and submit applications for medical device registration certificates. With the collaboration and support of our most reliable partners, we are confident that Peixin Technology will forge a path that combines product innovation with commercial viability.”

Lilly Asia Ventures (LAV)China has millions of patients with valvular heart disease, and surgical planning is an essential tool for transcatheter valve replacement or repair procedures. The market for related tools is monopolized by imported products, which have not yet obtained registration certificates from the National Medical Products Administration (NMPA) and can currently only be used for research purposes. Cardioverse, independently developed by Peixin, is the most promising domestic alternative to imported valvular surgery planning tools. With comprehensive resource support and dedicated incubation from Peijia Medical and the Institute of Interventional Medical Technology, it has made rapid progress, and its first product has already begun commercialization. We are highly optimistic about the Peixin team and look forward to the company continuing to develop more innovative products that benefit both physicians and patients.

Mr. Zhao Dongliang, Founder of Jiasheng Fund“Peixin Technology is an emerging innovator in China’s AI medical imaging sector. As its angel investor and a co-investor in this round, Jiasheng Fund is honored to have accompanied, witnessed, and supported its growth. We firmly believe that the Peixin Technology team will continue to uphold its strong entrepreneurial and innovative spirit, leading Peixin Technology to become a leading enterprise in the field of AI medical imaging and achieving even more remarkable accomplishments.”

Tao Shanshan, Head of Investment Department I at Leader Venture Capital“It stated: ‘Since its establishment, Suzhou Peixin Technology Co., Ltd. has strategically built a robust product pipeline featuring fully independent intellectual property rights in analytical systems, computer-aided diagnosis platforms, and surgical planning solutions. The company is among the domestic frontrunners in preoperative TAVR modeling and AI applications, and it stands out as one of the few enterprises engaging in deep collaboration with valve manufacturers. Suzhou Industrial Park Leader Venture Capital Co., Ltd. holds strong confidence in Peixin Technology’s products and entrepreneurial team. Furthermore, this partnership further enhances the medical device industry ecosystem within the Suzhou Industrial Park and boosts regional innovation capabilities.’”

Mr. Zhang Xin, Director of the Institute of Interventional Medical Technology, Suzhou Industrial Technology Research Institute“As the incubator of Peixin Technology, we have witnessed its founding team grow from just two individuals to its current scale, and observed the entire journey of their product from prototype to commercialization. This achievement is attributable not only to the innovation and relentless efforts of the entrepreneurial team, but also to the step-by-step assistance and support provided by the Institute. We hope that Peixin Technology will continue to move forward steadily and firmly in the future.”

Lilly Asia Ventures (LAV) is a premier venture capital fund dedicated to investing in the life sciences and healthcare sectors. Headquartered in Shanghai, China, it maintains offices in Hong Kong, China, and Silicon Valley, USA. The firm’s long-term vision is to build exceptional companies that combat diseases and improve human health through breakthrough products, and to serve as a trusted partner for outstanding entrepreneurs seeking smart capital.

Suzhou Jiasheng Venture Capital Partnership (Limited Partnership) (hereinafter referred to as “Jiasheng Fund”) is a private equity investment fund registered with the Asset Management Association of China, and its manager is Suzhou Jiasheng Venture Capital Management Co., Ltd.

Jiasheng Fund focuses on interventional medical projects as its core investment sector, identifying, investing in, and integrating medical resources with disruptive innovative technologies worldwide. It conducts activities such as life science technology exploration, industry incubation, and investment operations. By leveraging capital, industry expertise, and operational services, and balancing both hardware and software resources, the fund provides end-to-end empowerment for projects, facilitating their transformation from technology to products and ultimately to commercial commodities.

Established in December 2012, Leader Venture Capital is wholly owned by the Enterprise Development Service Center of Suzhou Industrial Park, with a registered capital of RMB 367.5 million. Its managed funds include the SIP Science and Technology Innovation Fund and the Leader Yuanrui Fintech Fund, among others, with total assets under management reaching RMB 2 billion. As the largest policy-oriented angel investment institution in Suzhou Industrial Park, it has played an active role in supporting the park’s efforts to attract high-end talent, accelerate corporate growth, and foster a vibrant ecosystem for technological innovation.

The Suzhou Industrial Park Science and Technology Innovation Fund was jointly established by the Finance and Audit Bureau of Suzhou Industrial Park as the Limited Partner (LP) and Suzhou Industrial Park Leader Venture Capital Co., Ltd. as the General Partner (GP). With a total size of RMB 1.5 billion for its first phase, the fund focuses on key strategic emerging industries such as biopharmaceuticals, nanotechnology applications, and artificial intelligence. It adopts a combination of direct investment and grant-linked investment to support technology-based and innovative enterprises within the park in scaling up, optimizing operations, and strengthening competitiveness.

Suzhou Industrial Technology Research Institute of Interventional Medical Technology (hereinafter referred to as the “Institute”) was jointly established by four parties: Suzhou Industrial Technology Research Institute, Suzhou Industrial Park Administrative Committee, Peijia Medical Technology (Suzhou) Co., Ltd. (hereinafter referred to as “Peijia Medical”), and the founding team. Focusing on interventional medicine as its core domain, the Institute identifies, invests in, and integrates medical resources with disruptive innovative technologies worldwide, and organizes activities related to life science exploration, industrial incubation, and investment operations. It places particular emphasis on areas such as medical intelligence, biomaterials, valve repair technology, next-generation neurointerventional devices, and atrial fibrillation ablation technology.