Empowering Entrepreneurs to Innovate, Enabling Innovators to Advance – 2022 The 6th Future Healthcare 100 Summit

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Hearing the distant rumble of thunder, sensing the approaching tide of fury,

We remain in an era of profound transformation within the healthcare industry,

In this era, we are closer to our dreams than ever before,

"It is not the outstanding who dream, but those who are good at dreaming who are outstanding,"

And countless outstanding dreamers have come together, gathering strength and breaking through,

Forging a Golden Age!

In 2016, VB100 held the inaugural “2016 Eye of the Storm · Future Healthcare 100 Conference.” What began as an obscure event with just over 400 attendees has grown into a highly influential healthcare industry summit attracting more than 7,000 participants. Over the past six years, VB100 has focused on doing just one thing—Focusing on innovation and entrepreneurship in the future healthcare sector, becoming a pioneer in the future healthcare industryAs the initial and most steadfast companions of new entrepreneurs, we understand that only by excelling in our own endeavors can individuals secure a promising future, and only by standing together can we uphold the future of the industry.

Each year, VB100 organizes the “Future Healthcare 100 Conference” by starting with the annual questions that innovators in the healthcare industry care about, identifying deep practitioners in various sub-sectors of the healthcare industry, and presenting our observations and research on healthcare innovation, as well as our understanding of national conditions, market dynamics, and policies, in a professional and systematic manner through rankings, paying tribute to the pioneers of the industry.

VB100 is not merely an observer, recorder, and researcher of the industry, but also a participant, thinker, and builder.Through the "Top 100 Future Healthcare Conference," we connect innovative startups with government entities and capital, providing early-stage companies with a broader platform and greater opportunities.

In 2022, we will once again launch the "Top 100 Future Healthcare Conference."

Over the past year, internet founders such as Zhang Yiming and Huang Zheng have ventured into the life sciences sector, with investment hotspots increasingly shifting toward the healthcare industry;

The novel coronavirus continues to wreak havoc globally, making online healthcare solutions such as digital therapeutics and internet-based medical services a focal point across the entire industry;

In terms of medical devices, multiple surgical robots have achieved significant clinical progress, with some products already in clinical application;

A major reshuffle is underway in the internet insurance industry, where only products compliant with the filing regulations for online life and health insurance are permitted to be sold via the internet.

The integration of the healthcare industry with policy and market dynamics is becoming increasingly tight. While changes in business models and updates to brand channels are undoubtedly important, the most critical technological transformations are also continuously brewing.

So, compared with 2021, what changes will occur in the healthcare industry in 2022? How will policy changes affect the industry, and will these changes be beneficial or detrimental to its development?All these answers will be revealed at the “2022 · 6th Future Healthcare Top 100 Conference.”

2021This year, although volume-based procurement and national reimbursement drug price negotiations continue to profoundly impact the industry, the emphasis on innovation remains unchanged, and the market’s definition of innovation is steadily evolving.On July 2, 2021, the Center for Drug Evaluation (CDE) released a draft for comment on the “Guiding Principles for Clinical Development of Anticancer Drugs with a Focus on Clinical Value,” raising the bar for the clinical research of innovative drugs.

Following the release of the draft for public comment, the secondary market experienced a significant correction, propelling pharmaceutical companies into the next phase of innovation driven by the tide of the times. In an era dominated by generic drugs, “Me-too” was considered innovation;However, in this currentIn an era rife with “me-too” drugs, only “me-better” and “first-in-class” therapies that withstand rigorous scrutiny truly constitute innovation.

Early movers in innovation are already beginning to see returns.

In August 2021, RemeGen and Seagen entered into an exclusive global license agreement for the development and commercialization of RemeGen’s novel antibody-drug conjugate (ADC), disitamab vedotin. Under the agreement, RemeGen is eligible to receive total potential payments of up to $2.6 billion, comprising a $200 million upfront payment and milestone payments of up to $2.4 billion.

In September 2021, cadonilimab, independently developed and industrialized by Akeso, became the first PD-1-based bispecific antibody drug globally to submit a marketing application, and is poised to become the first bispecific antibody drug independently developed and marketed in China.

In December 2021, BeiGene and Novartis entered into a collaboration agreement. Under the terms, Novartis will pay up to $2.9 billion, plus 20–25% sales royalties, to secure the rights to BeiGene’s TIGIT antibody in the United States, Canada, multiple European countries, and Japan.

Beyond the rapid advances in macromolecular drugs over the past two years, breakthroughs have also been successively achieved in more cutting-edge fields of biotechnology.

In the field of cell therapy, China’s first cellular therapy product, Axicabtagene Ciloleucel Injection, was approved in August 2021, followed by the approval of Relmacabtagene Autoleucel Injection in September 2021. The successive approvals of these two CD19 CAR-T products have brought new hope to patients with hematologic malignancies in China.

In the field of gene therapy, in January 2021, Edigene’s Investigational New Drug (IND) application for ET-01, a CRISPR/Cas9 gene-editing therapeutic product targeting transfusion-dependent β-thalassemia, was approved by the Center for Drug Evaluation (CDE); in January 2022, Nuofo Therapeutics’ NR082 received IND clearance from the U.S. Food and Drug Administration (FDA), becoming the first domestically developed in vivo gene therapy for ophthalmic indications to obtain FDA approval for clinical trials in the United States.

In the field of nucleic acid therapeutics, Abogen Biosciences completed three rounds of financing totaling over $1.1 billion in 2021, setting a new record for the largest single pre-IPO fundraising amount in China’s biopharmaceutical sector and ranking first globally in biotechnology financing. Sirnaomics was listed on the Hong Kong Stock Exchange on December 30, 2021, becoming the first publicly traded company in China specializing in small nucleic acid drugs.

In the field of AI-driven drug discovery, total financing in China’s AI pharmaceutical sector exceeded RMB 8 billion in 2021. As a cross-disciplinary domain with substantial market potential, AI-enabled drug R&D has attracted significant investment from both the TMT (Technology, Media, and Telecom) and healthcare sectors. Breakthroughs in biotechnology and declining costs have accelerated the accumulation of big data in biomedicine, creating favorable conditions for the application of AI in this field. Over the next few years, as AI-driven drug discovery undergoes further validation, we expect to see milestone deliveries from AI pharmaceutical companies and more investigational projects advancing into clinical stages.

The biopharmaceutical industry is standing at a new inflection point driven by emerging technologies. Relatively mature sectors form the cornerstone of industrial development, while new technologies will become the new growth engines for the industry in the coming years.

The development of the industry has also brought new opportunities, with more active exploration of new technologies and novel drug modalities. Differentiation is replacing homogenization, and the pace of internationalization is accelerating. Against the backdrop of domestic substitution, the biopharmaceutical supply chain is being continuously refined, nurturing future pharmaceutical enterprises within China’s ecosystem that will change the world.

In recent years, the medical device industry has been significantly impacted by volume-based procurement (VBP) and DRG/DIP payment reforms. Coronary stents subject to VBP have already entered clinical use. In September 2021, the centralized procurement of orthopedic artificial joints was opened in Tianjin. High-value consumables in other sectors are also gradually being included in the centralized procurement process.However, national centralized procurement policies for high-value medical consumables are expected to ease, and as device prices decline, overall market penetration will increase.

Medical Device Companies in the Primary and Secondary MarketsRemained active. In 2021, financing in the medical device sector further increased in both volume and scale.By the end of 2021, the number of financing deals exceeding RMB 100 million reached 137, a 78% increase from 77 in 2020. Transactions surpassing RMB 500 million also rose to 17, marking a 55% growth.

In the primary market, the surgical robotics sector has remained the hottest track in medical devices for two consecutive years, leading in both the number of financing deals and the total amount raised.

The Hong Kong Stock Exchange also welcomed its first surgical robotics company: MicroPort MedBot, with a market capitalization exceeding RMB 50 billion, making it the highest-valued IPO in the medical device industry.

In terms of product commercialization, Weimai Medical’s interventional surgical robot performed a PCI procedure at Beijing Anzhen Hospital, marking the first percutaneous coronary intervention completed by a domestically developed and independently innovated vascular interventional robot in China. In the laparoscopic surgery sector, Shandong Weigao’s “Laparoscopic Endoscopic Surgical Equipment” received approval from the National Medical Products Administration (NMPA) on October 27, 2021, becoming the first laparoscopic surgical robot approved for market entry in China. MicroPort’s Toumai surgical robot, Jingfeng Medical’s MP surgical system, and Kangduo’s laparoscopic surgical robot have all completed clinical trial enrollment. In the orthopedic surgery sector, the first fully intelligent domestic orthopedic surgical robot integrating navigation and surgical manipulation, developed and manufactured by Xinjunte, has received regulatory approval. Meanwhile, joint replacement robots from Yuanhua Intelligence, Jianjia, and MicroPort Robotics have entered the clinical trial stage. Products from multiple companies have advanced into clinical trials.

In terms of payment, the industry has also seen significant positive developments.In April 2021, the Shanghai Healthcare Security Administration included surgical robots in Shanghai’s medical insurance coverage; in August, Beijing added Tinavi’s orthopedic surgical robot to its Class A medical insurance reimbursement list, allowing patients to receive 100% full reimbursement.

The coming years will witness the large-scale clinical adoption of domestically produced surgical robots in China. The surgical robotics sector is entering a golden age of development. Beyond laparoscopic and orthopedic surgical robots, companies have already begun R&D efforts in vascular intervention, pulmonary intervention, and TAVR (Transcatheter Aortic Valve Replacement) surgical robots.

As population aging intensifies, the strong unmet demand in the cardiovascular sector has driven its sustained rapid growth.In 2021, as one of the earliest industries impacted by centralized volume-based procurement, the sector witnessed an accelerated process of survival of the fittest, with resources and market share becoming increasingly concentrated. Technologically, innovation has expanded from transcatheter aortic valve replacement (TAVR) to comprehensive competition across mitral and tricuspid valve interventions.

Transcatheter Mitral Valve (TMV) repair is regarded as the “crown jewel” in the field of interventional valve therapy. In China, there is intense interest in mitral valve interventions. Dejin Medical’s transfemoral transcatheter mitral valve clip, DragonFly™, and Hanyu Medical’s interventional device for mitral regurgitation, ValveClamp, have both entered clinical trial phases.

In the field of mitral valve replacement products, MicroPort’s MitraFix and Nuomai Medical’s Mithos have both entered the product registration application phase. Their technological standards are at the international forefront, with market launch expected within the next 1–2 years.

Medical imaging, as a basis for diagnosis and treatment, has always been a hot field. With technological iterations, leading companies are flocking to enter the imaging sector.In the AI sector, the medical imaging track has long evolved from “single-product” offerings to a stage driven by “big data and artificial intelligence,” with technology remaining the core competitiveness of enterprises.

Last year, AI medical imaging companies such as Shukun Technology, NanoVision, Argus Medical, Vmai Medical, and Yueying Technology all secured financing exceeding RMB 100 million. On the last day of 2021, United Imaging Healthcare submitted its prospectus to the STAR Market, poised to lead a wave of IPOs in the medical imaging equipment sector.

However, AI-powered medical imaging is still far from being able to replace human expertise within the closed-loop diagnostic process in healthcare. For companies seeking further growth, the key lies in enhancing the clinical value of AI imaging solutions.