Ande Medical Intelligence Secures $258M National AI Healthcare Project Amid IPO Filing: Pioneering Clinical-Grade Diagnostic AI
2020 was undoubtedly a breakthrough year for the medical AI industry. Within just seven months, several AI-based imaging software products successively obtained Class III medical device certifications from the National Medical Products Administration (NMPA). BioMind was among them; in June, this AI company secured China’s first NMPA Class III certification for “AI-assisted imaging diagnosis.”
In August, BioMind, as a consortium member, won the bid for the only national-level medical artificial intelligence public platform project under the Ministry of Industry and Information Technology (MIIT)—the “Public Service Platform for AI-Assisted Diagnosis in Healthcare.” The winning bid amount reached RMB 168 million. Other consortium members jointly undertaking this national-level project include Huawei, China Mobile, Chinese PLA General Hospital (301 Hospital), Beijing Tiantan Hospital, Peking University First Hospital, Beijing Tongren Hospital, Peking University Cancer Hospital, The First Affiliated Hospital of Zhengzhou University, and National Institutes for Food and Drug Control.
“Industry insiders stated, ‘This powerhouse alliance of top-tier players underscores the nation’s resolve to advance artificial intelligence in healthcare and serve the people.’”
In fact, a closer look at the development journey of BioMind reveals the underlying logic behind each of its steps.
In December 2019, in accordance with the "Notice of the General Office of the Ministry of Industry and Information Technology on Issuing the List of Selected Units for Unveiling Key Tasks in Industrial Innovation of New-Generation Artificial Intelligence" (Gongxin Ting Ke Han [2019] No. 284), BioMind, as a selected unit, undertook technological breakthroughs for the "Medical Imaging Computer-Aided Diagnosis System" project. It is reported that BioMind ranked first in this selection process.
During the 2020 COVID-19 pandemic, BioMind, Beijing Tiantan Hospital, and the Chinese PLA General Hospital undertook a special key research task assigned by the Ministry of Industry and Information Technology (MIIT) titled “AI-Assisted Diagnosis of CT Images for Novel Coronavirus Pneumonia” (Document No. 66 [2020] of the Department of Science and Technology). After 16 consecutive days and nights of intensive effort, they rapidly developed the BioMind AI Qualitative Auxiliary Diagnostic System for CT Imaging of “COVID-19” Pneumonia. In recognition of its outstanding contributions to epidemic prevention and control, BioMind was honored as an “MIIT-Commended Unit for COVID-19 Prevention and Control in 2020.”
This July, in the national “Evaluation of AI-Assisted Diagnostic Products for Pneumonia Imaging” organized by the Ministry of Industry and Information Technology (MIIT), BioMind stood out among the 17 medical AI companies participating in the evaluation across China and received commendation.
At the same time, after fierce competition, BioMind, as a member of the consortium, successfully won the bid for the only national-level medical artificial intelligence platform project under the Ministry of Industry and Information Technology—the “Public Service Platform for AI-Assisted Diagnosis in the Healthcare Industry.” Other consortium members participating in this national-level project include Huawei, China Mobile, Chinese PLA General Hospital (301 Hospital), Beijing Tiantan Hospital, Peking University First Hospital, Beijing Tongren Hospital, Peking University Cancer Hospital, The First Affiliated Hospital of Zhengzhou University, and the National Institutes for Food and Drug Control.
The winning bid document states: “The lead and participating hospitals in this project are at the forefront of global medical excellence in disciplines such as cardiology and pulmonology, neurology, ophthalmology, vascular medicine, orthopedics, and oncology. Meanwhile, BioMind, Huawei, and China Mobile are benchmark enterprises in the fields of medical artificial intelligence, cloud computing, chip design, and network communications, respectively.”
In this national-level project, BioMind is required to assume multiple roles in the fields of AI and big data: jointly developing deep learning frameworks and next-generation neural network algorithms with Huawei Technologies Co., Ltd. based on multimodal biomedical data; leading the construction of the platform’s cybersecurity system; spearheading the research and development of medical AI application products; participating in the formulation of national and industry standards (drafts) for AI in healthcare; and contributing to the establishment of a clinical performance evaluation index system for AI-enabled healthcare products.
It is evident that, in this national-level initiative, the state is committed to leveraging artificial intelligence technologies to promote the equity and accessibility of medical resources across China, thereby enhancing the health and well-being of its population.
Not only do the member units of the consortium focus on selecting the most prominent cases in specialized disease areas, but they also have clear divisions of labor: The Chinese PLA General Hospital leads the development of AI-based screening and auxiliary diagnostic systems for heart, vascular, pulmonary, and breast conditions; Beijing Tiantan Hospital leads in brain tumors, cerebrovascular diseases, and stroke; Peking University First Hospital leads in kidney and prostate diseases; Peking University Cancer Hospital leads in gastrointestinal oncology; Beijing Tongren Hospital leads in diseases of the eyes, ears, nose, and throat; and The First Affiliated Hospital of Zhengzhou University leads in hematology, orthopedics, and uterine diseases.
BioMind is responsible for the research and development of AI applications in the aforementioned disease areas. In fact, BioMind has long been dedicated to a strategy combining “breadth and depth,” focusing intently on addressing genuine clinical needs. It has developed medical AI applications that are suitable for various clinical scenarios, effectively alleviate physicians’ challenges, and deliver true clinical value.
In terms of in-depth R&D, taking neurological disorders as an example, BioMind has pioneered the global implementation of AI-assisted diagnosis for CT/MRI imaging of neurological conditions. It covers more than 60 diseases, including brain tumors, small vessel disease, and stroke, with a diagnostic accuracy rate exceeding 90%, and surpassing 96% for certain conditions. This October, at the International Conference on Cerebrovascular Diseases—The 6th Academic Annual Meeting of the Chinese Stroke Association and the Tiantan International Conference on Cerebrovascular Diseases—BioMind unveiled another major breakthrough: the “BioMind AI-Assisted Diagnostic System for Intracranial Aneurysms.” Its performance metrics, such as specificity and accuracy, are superior to those of other top-tier international products in the same category.
In terms of breadth, BioMind has already achieved widespread clinical implementation in the field of AI-assisted medical diagnosis, covering multiple body regions and a wide variety of diseases. Its suite of applications includes: AI for neurological imaging (such as brain tumors, cerebral small vessel disease, and stroke); pulmonary diseases (including auxiliary diagnosis for pneumonia classification, tuberculosis, and lung cancer); cardiovascular and cerebrovascular conditions via CTA/CTP/MRP; cardiac MRI; and breast MRI. These solutions collectively provide precise AI-assisted diagnosis across multiple body parts—including the head, neck, heart, blood vessels, and breasts—and for a diverse range of pathologies.
Meanwhile, BioMind has also developed the BioMind Clinical Decision Support System for Cerebrovascular Diseases, providing auxiliary decision-making support across the entire process of diagnosis, treatment, and prognosis. This system enables physicians to make scientific and rational clinical decisions from patient admission to discharge, guided by standardized diagnostic and treatment guidelines and real-time updates of patient data.
Accordingly, BioMind leverages dimensions such as “disease type + disease course” to implement practical applications in AI-assisted diagnosis and treatment decision-making. By meeting the growing needs of primary healthcare institutions, it promotes the development of national AI-assisted diagnostic systems, enhances the quality of primary medical services, facilitates the downward flow of high-quality medical resources to the grassroots level, and supports tiered diagnosis and treatment as well as the Healthy China initiative.
In June this year, BioMind obtained the Class III certification from the NMPA. This is the first medical AI software in China approved by the Drug Administration under the name “Image-Assisted Diagnosis.”
In the second half of 2020, several medical AI companies successively obtained Class III certifications from the NMPA. However, based on the approved product names disclosed—such as “Assisted Detection,” “Assisted Triage,” and “Computational Software”—the Class III certification approved for BioMind was uniquely named “Imaging-Assisted Diagnosis.”
The first Class III medical device approval for “AI-assisted imaging diagnosis” was granted to BioMind’s “Tianyi Zhi” MRI-based computer-aided diagnosis software for intracranial tumors, developed by Beijing Ande Yizhi Technology Co., Ltd. (BioMind). Regarding how the software truly delivers on its “assisted diagnosis” capabilities, Wu Zhenzhou, Chief Technology Officer at BioMind, stated that the software goes beyond early disease screening to provide further precise diagnostic assessments. For instance, it enables accurate classification and diagnosis of brain tumors (such as meningiomas, vestibular schwannomas, medulloblastomas, and gliomas) and automatically generates a structured report, thereby helping physicians make rapid diagnoses, improve work efficiency, and enhance diagnostic accuracy.
Robust product capabilities have enabled BioMind to successfully penetrate the international market. As early as 2018, BioMind obtained product certifications in more than ten countries and regions, including the EU CE marking and Singapore, with its products sold to Germany, Poland, Luxembourg, Singapore, and other countries and regions.
This may offer some industry insights. In recent years, as national policies have become increasingly supportive of AI-enabled medical products, the commercialization prospects for medical AI have grown clearer. “Sellers” can now legally enter the market and sell their products, but whether “buyers” are willing to pay ultimately depends on whether the products offered by “sellers” truly meet their needs.
In other words, for medical AI products, obtaining a Class III certification is merely the first step toward commercialization; demonstrating genuine clinical value is the key.
With the continued advancement of approvals for Class III medical AI devices, it is easy to envision that more players will secure market entry tickets in the future. However, who will ultimately prevail remains to be seen, as the market will reveal the answer based on value.