Panorama Science Secures Over RMB 100 Million in Pre-A Funding for Launch of Groundbreaking IVUS-OCT Integrated Intravascular Imaging System

VCBeat (WeChat ID: vcbeat) has learned that Panovision (Beijing) Scientific Technology Co., Ltd. (“Panovision”), a medical device company specializing in the research and development of cardiovascular and intravascular imaging technologies, has announced the completion of its Pre-A financing round, with an amount exceeding RMB 100 million.It is understood that this round of financing will provide strong support for product manufacturing, market expansion, and the development of next-generation products.

Panovision is a subsidiary of Hengsheng Medical Group, with its headquarters located in the Zhongguancun Science Park in Shunyi District, Beijing.Founder Mr. Zhao Xusheng previously served as the Chief Representative in China for American Optical Laboratory and introduced the first OCT system to China. Another company under his umbrella, Hengyi Medical, offers products such as “self-perfused drug-eluting balloons,” “self-perfused ultra-thin fully bioresorbable stents,” “drug-eluting stents,” and “balloon catheters,” along with accessories. Its product portfolio coverage ranks second only to MicroPort and Lepu Medical in China.。

Notably, the globally unique “self-perfused drug-eluting balloon,” with Professor Huo Yong, a renowned Chinese cardiovascular expert, serving as the principal investigator, is nearing completion of clinical enrollment. The self-perfused ultra-thin fully bioresorbable stent is expected to enter clinical trials in the fourth quarter of 2021. Coupled with the intravascular imaging technology that Hengsheng Medical Group plans to expand through this financing round, the Group will demonstrate its comprehensive international capabilities across the entire interventional “diagnosis + treatment” value chain in the future market.

Coronary atherosclerotic heart disease (hereinafter referred to as “coronary heart disease”) is one of the leading causes of death worldwide. According to relevant data, the total number of percutaneous coronary intervention (PCI) procedures in China reached 1.038 million in 2019, surpassing the United States to become the largest PCI market globally. With the deepening integration of precision medicine concepts, physicians are increasingly utilizing intravascular imaging techniques during PCI procedures, among which intravascular ultrasound (IVUS) and optical coherence tomography (OCT) are the most widely used.

Due to the different imaging principles of IVUS and OCT, these two technologies offer complementary advantages in coronary diagnosis; therefore, their combined use can significantly improve diagnostic accuracy. However, all currently marketed products are single-modality devices for either IVUS or OCT, requiring physicians to use two separate imaging catheters. This not only makes the procedure cumbersome and costly but also complicates image interpretation, posing substantial clinical risks.

The S1 Intravascular Imaging System, co-developed by Panovision, represents a breakthrough by integrating IVUS and OCT technologies. Its leading performance ensures that even the single-modality technical specifications of this “two-in-one” device surpass those of imported single-modality products. By enabling simultaneous IVUS and OCT imaging through a single catheter, the system greatly facilitates clinicians in selecting optimal treatment strategies and reduces the risks associated with PCI procedures for patients.

 Clinical Images of the 2-in-1 Product (Images Provided by the Company)

It is reported that the intravascular imaging system has been granted two approvals through the China Food and Drug Administration’s (CFDA) Green Channel for Special Examination of Innovative Medical Devices. The system has currently entered the clinical trial phase and is expected to obtain Chinese medical device registration, U.S. FDA clearance, and CE certification within 2020, paving the way for its global commercial launch. The device is also poised to become the world’s first practical “IVUS and OCT combined” intravascular imaging system.

Professor Yu Bo, Principal Investigator of the trial and President of the Second Affiliated Hospital of Harbin Medical University, stated, “The integrated IVUS and OCT device can acquire exceptionally clear images within patients, demonstrating excellent fusion performance. It can be described as the device with the best image fusion capability on the same plane and cross-section globally, playing a milestone role in interventional therapy. This also provides a new approach for precision medicine in future clinical practice.”

According to relevant reports from the Reportlinker database, the global market for cardiovascular imaging and interventional diagnostics—including technologies such as intracardiac echocardiography (ICE), intravascular ultrasound (IVUS), and optical coherence tomography (OCT)—is expected to maintain steady growth. The compound annual growth rate (CAGR) for this sector is projected to be approximately 6.4% through 2021, with the total global market size increasing from around USD 3.5 billion in 2016 to approximately USD 4.8 billion in 2021.

The future belongs to the era of precision medicine, requiring the identification of target vessel lesions through more advanced technologies and from diverse perspectives. Founder Zhao Xusheng stated that after completing the registration and market launch of the “two-in-one” product,Panovision has independently developed and co-developed a range of highly innovative, high-end cardiovascular interventional products, including an intelligent diagnostic system based on multimodal information fusion.“This undoubtedly represents a major innovation and transformation for the clinical application of cardiovascular disease in China.”